Nearly 1 billion USD of Vietnamese goods has been reduced by EU tax thanks to EVFTA

After more than 2 months of implementing EVFTA, the Ministry of Industry and Trade has granted 24,000 sets of C / O (certificates of origin) with a turnover of nearly $ 1 billion to enjoy EU tariff preferences.
The information was shared by Deputy Minister of Industry and Trade Tran Quoc Khanh at the Conference on Evaluation of the Implementation of Rules of Origin in the Free Trade Agreement between Europe (EU) and Vietnam (EVFTA) by the Ministry of Industry and Trade held on October 17 in Ho Chi Minh City.

According to Deputy Minister Tran Quoc Khanh, the EVFTA effect has a great meaning to both Vietnam and the EU, especially in the context of the Covid-19 epidemic which is seriously affecting the world economy.

Fresh coconut batches exported from Vietnam to EU enjoy preferential tariff of 0%

The initial results of EVFTA implementation were very positive, the total value of Vietnam's exports to the EU market in August 2020 reached US $ 3.77 billion, up 2.9% over the same period last year. In September, reaching 3.54 billion USD, up 7.9%. As of October 12, after more than 2 months of implementing EVFTA, about 24,000 C / O sets have been granted with a turnover of nearly 1 billion USD to 28 EU countries (the UK is still implementing EVFTA until the end of 2020-PV).

"The amount of C / O issued under the EVFTA is much larger than the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). In the midst of the EU countries being heavily influenced by Covid-19, purchasing power. decline, negative GDP growth, Vietnam's exports to the EU increase is a remarkable effort "- Deputy Minister Tran Quoc Khanh assessed.

Source: https://nld.com.vn/kinh-te/hon-1-ti-usd-hang-viet-nam-da-duoc-eu-giam-thue-nho-evfta-2020101714473999.htm