Q1 exports rise as Vietnam takes advantage of FTAs: Official

Vietnam has been making good use of advantages of the international economic integration process, helping to increase the country’s exports by 22 percent year-on-year and imports by 26 percent in the first quarter of 2021, said Tran Thanh Hai, Deputy Director of the Agency of Foreign Trade under the Ministry of Industry and Trade.
Q1 exports rise as Vietnam takes advantage of FTAs: Official hinh anh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Vietnam has been making good use of advantages of the international economic integration process, helping to increase the country’s exports by 22 percent year-on-year and imports by 26 percent in the first quarter of 2021, said Tran Thanh Hai, Deputy Director of the Agency of Foreign Trade under the Ministry of Industry and Trade.

Talking to the press, Hai said the EU-Vietnam Free Trade Agreement (EVFTA), the UK-Vietnam Free Trade Agreement (UKVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have become effective, and the Regional Comprehensive Economic Partnership (RCEP) is about to come into effect.

For the EU market, several Vietnamese commodities have enjoyed incentives of the EU’s Generalised System of Preferences (GSP) for years.

However, for the long term, taking advantage of opportunities brought about by the EVFTA is a sustainable and equal preference. Specially, for the commodities that Vietnam has advantage, they can enjoy preferences on origins combined in the EVFTA, Hai said.

He advised enterprises to bring into full play advantages of the agreement by understanding the advantages for their commodities and then change their production process and material supply to meet requirements of origin.

Looking back on the import-export figures in the first quarter, Hai said, electronic products, electric appliances and furniture are the most benefitted as increasing demand from the European and North American markets.

However, such products as garment and textiles and footwear are facing difficulties caused by the disruption of the supply chains.

Hai also proposed businesses take the initiative and make good preparations to deal with any possible instable factors.

During January – March, Vietnam’s import-export turnover is estimated at 152.65 billion USD, up 24.1 percent year-on-year./.
News

Hoi An enters top 15 cities in Asia

The ancient town of Hoi An in the central province of Quang Nam has entered the top 15 cities in Asia selected by Travel+Leisure’s World's Best Awards 2021.

Photos of endemic birds in Vietnam on display

A photo exhibition featuring the life of endemic birds in Vietnam, particularly red-crowned cranes, has been introduced in Hanoi. Entitled “Moment of Nature”, the exhibition is aimed at delivering a message of protecting the natural environment.

Fishermen pull in nets in Da Nang city

Fishermen in the central city of Da Nang catch fish by tying ropes to their waists, walking backwards and using all of their strength to pull in fishing nets.

Pristine Lieng Nung waterfall in Dak Nong province

Located in Gia Nghia city, Dak Nong province, Lieng Nung waterfall, formed by the flow of Dak Nia stream which runs through N’Jrieng village, shows the wild beauty of the mountains and forests.