Nearly 5 billion USD of exports to EU benefit from EVFTA

A shrimp processing factory (Photo: VNA)

Hanoi (VNA) – Almost 5 billion USDworth of Vietnamese goods exported to the EU has benefited from preferentialtariffs under the EU-Vietnam Free Trade Agreement (EVFTA), according to theMinistry of Industry and Trade (MoIT).

The MoIT said efforts to capitalise on FTAs haveresulted in significant outcomes, helping to achieve fast and sustainableexport and gradually reduce the dependence on single or certain markets.

Certificates of origin have been used to helpabout 32 – 34 percent of annual export revenue benefit from preferentialtreatment under FTAs, showing that Vietnamese businesses and goods areincreasingly tapping into concessionary tariffs in the markets having FTAs withthe country, it added.

The MoIT noted from August 1, 2020, when theEVFTA took effect, to April 4 this year, authorised agencies and organisationsin Vietnam granted about 127,300 sets of the certificate of origin form EUR 1for nearly 4.8 billion USD of exports to the 27 EU countries.

Besides, enterprises shipping goods to the EUalso conducted self-certification of origin for more than 10.88 million USDworth of commodities to utilise preferential tariffs.

The beneficiary items were mainly footwear,aquatic products, textile-garment, farm produce, and electronic products, theMoIT said./.

VNA