If Vietnam businesses want to take full advantage of the EU-Vietnam Free Trade Agreement (EVFTA) tariff reductions, they need to focus on complying with the rules of origin said Claudio Dordi at a seminar on September 25 in Ho Chi Minh City.
Dordi, who is the Chief Technical Advisor of the EU-MUTRAP Project in Vietnam, said those rules must be complied with and require the development of supply chains and distribution channels in the EU.
In addition, Dordi stressed Vietnam, as a nation, should concentrate on enhancing its national image for making quality products with proper attention to producing them in an eco-friendly, hygienic and safe manner.
Textile and Garment Institute Director Nguyen Van Thong in turn echoed Dordi’s views and underscored the importance of complying with the rules of origin to receive the benefits of tariff reductions.
Thong said clothing and footwear manufacturers have plenty of time to prepare for the implementation of the EVFTA and they should go the extra mile to ensure they strictly comply with EU regulations, technical criteria, product safety and origin of products.
The EVFTA is expected to take effect in late 2017 or early 2018. Vietnam has agreed to liberalise 65% of import duties on EU exports from the day the deal comes into effect, and gradually eliminate the rest over a 10-year period.
EU duties will be eliminated over a seven-year period. Some EU foods and beverages will only enter the Vietnamese market tariff-free after seven years.
VOV
