Trade counselor advises firms on ways to optimise EVFTA

June 14, 2020 | 09:19

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Vietnamese Trade Counsellor to Germany Bui Vuong Anh has outlined important notes for domestic enterprises to make the most of the EU-Vietnam Free Trade Agreement (EVFTA).

trade counselor advises firms on ways to optimise evfta

Vietnamese Trade Counsellor to Germany Bui Vuong Anh. (Photo: VNA)

The Vietnamese National Assembly's ratification of the EVFTA marked a fairly good start but it is more important for Vietnamese companies to explore ways to optimise benefits from the trade deal to boost exports to Germany, according to Anh.

The EVFTA supplements the World Trade Organisation (WTO), Anh told the Vietnam News Agency's correspondents, adding that Vietnam and Germany have basically completed required procedures to set up a joint committee for economic cooperation this year.

Germany plays a vital part in the EU and it is a major importer of most of Vietnam’s key products shipped to the EU, he said.

Germany has become one of Vietnam’s leading trade partner in recent years, with the two-way trade exceeding 15 billion USD in 2019, of which exports to Germany hitting nearly 11 billion USD.

The trade counselor urged domestic producers to enhance productivity and use of advanced technology in production while adding values for their products and meeting Germany’s health and food safety requirements.

They should bring into full play the special mechanism from both the EVFTA and the Vietnam – Germany joint committee for economic cooperation to gain broader access to the German as well as EU markets, he added.

VNA

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