According to the Ministry of Industry and Trade, among the 15 FTAs that Vietnam is implementing, three new generation FTAs, CPTPP, EVFTA and UKVFTA, bring many advantages to Vietnamese businesses. These new trade agreements have created a lot of space for domestic businesses to access and diversify export markets, avoiding excessive dependence on the markets of East Asian countries.

Over the past three years, these free trade agreements have helped import and export turnover grow strongly. Specifically, CPTPP helps export turnover to member countries increase by 18.1% in 2021 compared to 2020. EVFTA helps two-way trade between Vietnam and the EU in 2021 increase by 14.5% compared to 2020. 2020.

Notably, in 2022, trade turnover between European Union (EU) member countries will reach 62.24 billion USD, an increase of 9.2% compared to 2021.

Vietnam's export turnover to EU countries reached 46.8 billion USD, up 16.7% compared to 2021. Import turnover from EVFTA countries reached 15.4 billion USD, down 8.6% compared to 2021. 2021.

Export turnover to the EU according to C/O form according to EVFTA (form EUR.1) reached 12.1 billion USD, accounting for 25.9% of overall exports to the EU, an increase of 49.4% compared to 2021. Many aspects Vietnam's important products exported to the EU continue to have a positive utilization rate. For example, seafood reached 82.9%, an increase of 29.5% compared to 2021. Vegetables reached 72.6%, an increase of 34.2%; footwear reached 99.5%, an increase of 49.7%; textile and garment reached 15.7%, increased by 43.4%; Wood and wood products reached 14.2%, increased 85.2%...

The main export markets are the Netherlands, accounting for 22.3%, Germany accounting for 19.2%, Italy accounting for 9.5%, Belgium accounting for 8.5%, France accounting for 7.9%...

On the contrary, imports from the EU recorded a decrease compared to 2021. Many important imported items from the EU such as computers, electronic products and components decreased by 8.6%, machinery and equipment decreased by 8.6%. decreased by 15.9%, pharmaceuticals decreased by 4.5%, chemical products decreased by 1.7%, textile and garment raw materials, leather and footwear decreased by 21.4%, machinery and equipment decreased by 15.9%. The main import markets in the EU are Germany (accounting for 23.5%), Ireland (accounting for 21.7%), Italy accounting for 11.6%, France accounting for 10.6%...

Vietnam's trade surplus with EU countries in 2022 reaches 31.4 billion USD, an increase of 35.1% compared to 2021. However, although the trade surplus is the second largest, only after the United States, the The weight of the EU market in Vietnam's total export and import turnover is still not high, 12.6% and 4.3% respectively.

On the local side, among the provinces reporting import and export data, 49/63 provinces and cities have generated export activities with EVFTA countries, an increase of 11 provinces compared to 2021. Localities have trade exchanges with the largest EVFTA countries being Ho Chi Minh City, followed by Bac Ninh province, Thai Nguyen province and Hanoi City. Items exported from localities to EVFTA countries include many computers, electronic products, components, phones and components, and footwear; machinery, equipment, tools and other spare parts.

Despite taking advantage of opportunities from the EVFTA, there are still many factors preventing businesses from benefiting from this Agreement, such as: lack of information, limited competitiveness, low capital and technology resources. . At the same time, businesses' lack of brand positioning in these FTA markets also makes it difficult for them to take advantage of opportunities.

To take advantage of all the opportunities from the FTA, experts recommend that businesses must update new information; guide and train the team on how to approach FTA; ready to improve products and processes to meet regulations of international markets and qualify to benefit from trade agreements. Besides, businesses must select export products and build corporate and product brands. Currently, the EU is Vietnam's key export market and to export to this market, businesses need to produce high quality products. When Vietnamese enterprises' products have brands in the EU market, it will help businesses develop sustainably and have the opportunity to spread to other markets around the world.

Minh Toan