A conference on the promotion of the Vietnam-Germany trade through optimising the EU-Vietnam Free Trade Agreement (EVFTA) will be virtually held by the Vietnam Chamber of Commerce and Industry and the Friedrich Naumann Foundation for Freedom (FNF) on December 14.
The event aims to provide necessary information to enable businesses to optimise the EVFTA to increase export to Germany.
According to the General Department of Vietnam Customs, in the third quarter of this year, trade between Vietnam and the EU reached 13.6 billion USD, down 2.9 percent over the second quarter but rising 4.4 percent year on year. In the first nine months of 2021, the figure hit 41.3 billion USD, a year on year increase of 13.4 percent. In the period, Vietnam enjoyed trade surplus of 16.41 billion USD.
Trade between Vietnam and the EU is expected to recover in the last quarter of the year. Experts held that in the fourth quarter and 2022, the EU’s import of Vietnamese goods will continue to rise.
Germany is currently one of the most important partners of Vietnam in the EU with two-way trade rising over 80 percent in a decade. The EVFTA is hoped to help Vietnam further tap this potential market.
However, experts advised that Vietnamese businesses should equip themselves with knowledge and full information of the choosy market, while optimising advantages from the EVFTA.
The conference expects the participation of the Vietnam Import-Export Agency representatives who will report the impacts of the deal on the Vietnam-Germany trade relations and the optimisation of preferential tariff from the agreement, as well as regulations regarding goods origin for exports to the German market.
On the occasion, a business handbook on tapping advantages from the EVFTA to increase import-export activities between Vietnam and Germany will be introduced.