Experts at the conference (Photo: VNA)Huynh Minh Vu, Deputy Director of the Ho Chi Minh City Centreof International Integration Support (CIIS), underlined that the EU is one ofthe most important trade partners of Vietnam and stressed that import policies of the union willhave a certain impact on Vietnamese exporters.
The CBAM, a policy of the European Green Deal (EGD), isexpected to help the EU reduce carbon emission by at least 55% by 2030 comparedto 1990. It is forecast to directly affect the goods supply chain ofbusinesses.
Do Huu Hung from the Europe-America Market Department under the Ministry ofIndustry and Trade said that the CBAM will impact Vietnam’s exports, initially steel andcement. At the same time, it is currently impossible to tell whether the EUwill expand the group of products applying the CBAM mechanism or not, he said, adding this mechanism, therefore is also a trendthat businesses need to consider from the beginning in the process of designingtheir production strategies.
The official held that in order to adapt to the common global trends,including the CBAM, sectors with export products should be clearly aware ofregulations and requirements of import markets. He advised businesses to greenup their production by investing more on clean technologies and power sufficientsolutions.
Businesses and stakeholders should coordinate with and conduct dialogues with theEU to ensure the CBAM is implemented in a fair and equal manner, he stated.
Dang Bui Khue, Training Manager at Bureau Veritas Vietnam, saidthat although so far only the EU has announced the CBAM, the greening up ofproduction is an indispensable requirement to protect the living environmentand maintain sustainable development.
As Vietnam has announced the commitment to net-zero emission by 2050, strengthened the replacement of fossil fuels with renewable anddeveloped green industry, sustainable agriculture and circular economy,businesses should actively build their own quality management system andrenovate their management and production process, he underlined.
Khue held that the application of taxes on carbon-intensiveproducts will prompt enterprises to speed up green transition but also motivatethem to join the carbon credit market, a promising market that will helpfirms create more added values./.
VNA
