(Illustration: baochinhphu.vn)

Chief of the Vietnam Chamber of Commerce and Industry’s WTO and Integration Center, Nguyen Thi Thu Trang, said, “We saw a turning point just 5 months after the deal was signed, our exports to the EU increased by 3.8% instead of a 5.9% decrease earlier. During that first 5 months, Vietnamese businesses benefiting from tariff privileges under the EVFTA was nearly 15%, much higher than in other free trade agreements between the ASEAN and Australia, New Zealand or India, while doubling that under the CPTPP. This has proved a significant benefit from the deal.”

Trang said that a gradual adaptation to new standards in the EVFTA will accelerate international integration and maximize business benefit from the deal.