At the conference "UKVFTA Agreement - Green and Fair Trade with Vietnam" co-organized by the Ministry of Industry and Trade and the Embassy of the United Kingdom of Great Britain and Northern Ireland (UK) in Vietnam, on July 7 /3, Deputy Minister of Industry and Trade Dang Hoang An commented that green trade is an opportunity to create environmentally friendly goods and services, an opportunity for goods to adapt to increasingly high standards related to the environment. related to environmental protection and combating climate change.

According to Deputy Minister Dang Hoang An, the Vietnam - UK Free Trade Agreement (UKVFTA), in addition to a roadmap for deep tariff reduction, also creates clear advantages for many products with strengths of the two countries to penetrate. each other's markets.

Especially with commitments related to sustainable development, the Agreement is also an important framework for cooperative activities on green and fair trade, an important global development trend to meet the requirements. about sustainable development.

Vietnam is in the process of transition to implement international commitments on sustainable development, energy saving and climate commitments. For businesses, this is also an opportunity to create environmentally friendly goods and services, an opportunity for goods to adapt to increasingly high standards related to environmental protection and climate change. climate change.

Mr. Nguyen Canh Cuong, Vietnam Trade Counselor in the UK, said that Vietnamese businesses see new opportunities in green trade with the UK.

That is the prospect of exporting iron and steel products produced using non-carbonization technology. Because the UK is at the forefront of converting steel production to this technology. Vietnamese steel businesses benefit from the Decarbonization Program within the framework of cooperation between the UK and ASEAN countries to promote steel production that uses less energy and reduces emissions.

Besides, there is an opportunity to export household products and energy-saving equipment such as freezers, washing machines, light bulbs...

Opportunity to export environmentally friendly products, products made from natural materials including bamboo, and insulation products made from recycled materials are in great demand in the construction industry of the United Kingdom. UK.

Another is the opportunity to export organic foods grown without using chemicals... a trend that British consumers are in high demand for while Vietnamese businesses have many advantages to meet.

Not only does Vietnam have advantages, Mr. Cuong also believes that British businesses also have many opportunities to cooperate with Vietnamese businesses in their strong areas. Typically, renewable energy, sustainable agricultural production, waste management, carbon reduction in the transportation sector... These are areas where British businesses have strengths and can provide technology to Vietnam. Nam in reducing greenhouse gas emissions, saving water, managing waste, especially plastic waste...

In particular, green finance is a leading issue in green trade development. According to Mr. Cuong, some Vietnamese businesses are looking for loans from the UK for renewable energy projects. The UK can support Vietnamese businesses through green bonds aimed at sustainable development.

The opportunity to develop green commercial products into the UK market is huge, but it is also a challenge for Vietnamese businesses.

Mr. Harry Rawicz Szczerbo, Head of Trade and Investment, British Embassy in Vietnam, said that the UK has been the world's leading country in building environmental protection and deflation policies. emissions and sustainable development, including Green and Fair Trade Policies.

With the goal of promoting free trade and transforming it into an effective tool for creating green, sustainable and efficient value, bringing benefits to both developed and developing countries, the UK joins Work with partners around the world to break down trade barriers in environmentally beneficial goods and services, ensuring free trade that accelerates the adoption of green technologies worldwide.

Since the UK exited the European Union, the country has been building its own set of trade rules and regulations, in accordance with the "Global Britain" policy. In particular, promote green and fair trade policies, in parallel with negotiating, signing and implementing a series of trade agreements with partners around the world, including UKVFTA.

Deputy Minister Dang Hoang An assessed that green trade is an opportunity to create environmentally friendly goods and services, and an opportunity for goods to adapt to increasingly high standards related to environmental protection. and combat climate change. This is also a "green criterion" for exports to the UK market.

However, Deputy Minister An noted that the process of achieving the carbon neutrality goal will shift the comparative advantage of exports from labor- and energy-intensive fields to fields that apply advanced technology. greener, greener. This awareness is very important, Vietnamese businesses must clearly understand this issue.

According to Ms. Nguyen Khanh Ngoc, Deputy Director of the Europe - America Market Department (Ministry of Industry and Trade), in the coming time, with new environmental standards, Vietnamese goods need to meet. Vietnamese businesses must grasp green trends, innovate technology, improve capacity, and aim for green production. Pursuing a product greening strategy will help customers in foreign markets have more sympathy for businesses' products, creating a competitive advantage.

Green credit is an initiative and mechanism to encourage green investment in the UK. Vietnamese businesses that want to access loans from investment funds and British banks must meet a set of green criteria, then they will be given priority in lending or credit guarantees.

"Vietnamese businesses must be aware and understand this set of standards, and the plan must be convincing to show that the project is applying technology to reduce environmental emissions," Mr. Cuong said.

Minh Toan