EVFTA brings benefits, challenges to apparel sector
The garment-textile sector will gain significant benefits but, at the same time, face several challenges brought about by the EU-Vietnam Free Trade Agreement (EVFTA) once it takes effect, experts said at an online conference on August 2.
Hanoi (VNA) – The garment-textile sector will gainsignificant benefits but, at the same time, face several challenges broughtabout by the EU-Vietnam Free Trade Agreement (EVFTA) once it takes effect,experts said at an online conference on August 2.
Luong Hoang Thai, Director of the Ministry of Industry andTrade (MoIT)’s Multilateral Trade Policy Department, highlighted the potentialadvantage.
He said that all tariff imposed on garment-textile productswill gradually go down to zero percent, with 77 percent of the goods seeingtheir tariff immediately eliminated right after the pact comes into force.
The EU is the top apparel importer in the world and thesecond biggest import market of Vietnam’s garment-textile products, he added.
Nguyen Thi Thu Trang, director of the World TradeOrganisation (WTO) Integration Centre at the Vietnam Chamber of Commerce andIndustry (VCCI), said the sector’s shipments to EU reeled in 5.6 billion USD inrevenue.
She said the figure was high but accounted for only 2.02 percentof the bloc’s total value of garment and textile imports, adding that thismeans room for growth remains extensive.
Chairman of the Vietnam Textile & Apparel Association (VITAS)Vu Duc Giang pointed to a shortage of supplies, as the sector needs to meet theagreement’s requirements for product origin.
He also spoke about difficulties facing firms that want toinvest in fabric dying but are being rejected by localities over environmentalconcerns.
Giang told local authorities not to worry and explained thatforeign partners have strict requirements for environmental protection andwastewater treatment technologies in the world have reached an advanced level.
He asked the MoIT to announce at an early date a list oftariff lines applied for different types of garment-textile products.
The VITAS will organise workshops to update relevantinformation for businesses in the sector.-VNA
Vietnamese businesses are having high hopes for bigger market shares in the European Union (EU) thanks to the bilateral free trade agreement (EVFTA) signed recently.
The EU-Vietnam free trade agreement (EVFTA) is expected to bring great opportunities for exporters of Vietnam and the Mekong Delta region in particular. However, insiders have advised Vietnamese firms to improve their products’ quality to overcome barriers in the choosy EU market.
The EU-Vietnam Free Trade Agreement (EVFTA) not only opens the door wide for Vietnam's agro-forestry-aquaculture exports, but also promotes the country's agricultural sector to improve its competitiveness, according to experts.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Illustrative photo (Source: VNA) 
