Experts have recommended the acceleration of green transformation for businesses to help them avoid being excluded from the value chains as green consumption is becoming a trend across all segments and markets.
Ngo Chung Khanh, Deputy Director of the Multilateral Trade Policy Department under the Ministry of Industry and Trade (MoIT), said with complementary goods, two-way trade has seen impressive growth after three years of implementing the EU-Vietnam Free Trade Agreement (EVFTA). Many key export items of Vietnam recorded positive growth such as apparel, footwear and agro-aquatic products.
However, from the third year of the EVFTA implementation, these advantages and results have been somewhat affected by the EU’s increased application of higher standards and stricter requirements for quality, especially in the fields of environment and sustainable development, known as “green standards” for imported goods.
To maintain sustainable exports, Vietnamese businesses are forced to shift towards green production using modern technologies to ensure the supply of clean and green products and join the sustainable supply chains more deeply.
Vice Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Jean Jacques Bouflet advised Vietnamese enterprises to ensure green standards by following stricter environment regulations, invest heavily in research and development, upgrade infrastructure, improve logistics capability and invest in workforce training.
A quick survey showed that nearly 70% of Vietnamese firms are aware of the EU’s “From farm to table” green strategy for agricultural and food products. Nearly 80% of respondents know the EU Deforestation Regulation (EUDR) while around 60% of apparel makers become aware of the bloc’s textile strategy.
Deputy Director of the MoIT’s Domestic Market Department Le Viet Nga said the MoIT has developed an action plan for the National Green Growth Strategy for the 2021-2030 period with a vision until 2050, as directed by the Prime Minister. Its subordinate units have been assigned to work on this initiative.
According to Deputy Minister of Industry and Trade Do Thang Hai, the international supply chain connectivity (Outsourcing) activities from September 13-15 in Ho Chi Minh City helped firms deeply join the global production and supply chains, facilitating connections between distribution channels, foreign importers, domestic manufacturers and exporters. As a result, many contracts were signed and numerous transactions were initiated.
The MoIT also helped 120 companies join the ASEAN-China Expo (CAEXPO) in Nanning, China, where the Vietnamese exhibition area was the second largest, just after the host country. It has been actively promoting exports through cross-border e-commerce and improving the efficiency of customs clearance at border gates.
In the coming time, the MoIT will continue working with ministries, agencies, localities and firms to step up business activities, including exports, Hai said.
