Quang Ninh has been proactively integrating into the international economy in terms of implementing and effectively exploiting Free Trade Agreements (FTAs) to support businesses in "opening up" to export markets around the world.
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| Vina New Tarps Vietnam Co., Ltd. in Cai Lan Industrial Park, Ha Long City, Quang Ninh actively takes advantage of FTAs for export. (Source: BQN) |
Vietnam currently has 16 FTAs in effect, with more than 60 partners, most of which are large economies, covering all continents, accounting for nearly 90% of global Gross Domestic Product (GDP). The FTAs have contributed to making Vietnam one of the world's top 20 countries in terms of international trade scale with high and stable growth rates and continuously achieving record trade surpluses.
Proactive business
Taking advantage of great opportunities from FTAs, in recent times, Quang Ninh province has increased the number of conferences, seminars and training courses with the participation of senior experts from the Central Government; actively implemented programs to promote trade, investment, tourism, and brand building; and developed e-commerce to enhance trading capabilities, search for and expand markets.
Quang Ninh also actively coordinates with Vietnamese representative agencies abroad and foreign diplomatic agencies in Vietnam with the business community and relevant agencies at home and abroad to expand export markets, promote trade, tourism and attract investment; support the protection of the interests of enterprises and consumers of the province in international economic, trade and investment disputes.
Some businesses and traders in the area have been interested and proactively sought out information or, through the support of the Department of Industry and Trade of Quang Ninh province, received new information about the negotiation and signing processes of Vietnam's free trade agreements, the roadmap for tax reduction according to signed FTAs...
From there, effectively take advantage of the benefits that FTAs bring, seek cooperation opportunities in production and export with new partners, especially high-end potential markets such as Japan, Korea, the US, Europe...
According to the representative of Tuan Hung Import-Export Trading Company, the company's goods when imported into member countries of the agreement all enjoy tax incentives due to Vietnam's participation in FTAs, contributing to increasing product competitiveness.
The representative of Quang Ninh Seafood Import-Export Joint Stock Company also realized that through the FTA, the commitment to deeply reduce taxes on many items in export activities has been implemented, which is very beneficial for businesses in the import-export sector, especially in the international market.
"The FTA has made a very positive contribution to the overall success of the company's export activities. The company continues to fully implement the export requirements in implementing the FTA, to enjoy the incentives that the agreement brings," said a representative of Quang Ninh Seafood Import-Export Joint Stock Company.
Or Vina New Tapra Company Limited said that the business has taken advantage of FTA incentives to export products to major markets such as Europe, America, and Asia.
The representative of this company commented that the FTA has opened up many incentives for Vietnamese exports to the EU market. This is an advantage for businesses to compete with Chinese tarpaulin companies on tariffs in the new situation.
"We always try to improve product quality and working environment for workers to meet the strict requirements of the European market," Vina New Tapra Company Limited shared.
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| Import-export activities at Cai Lan Port, Quang Ninh. (Source: BQN) |
Grasping market signals, increasing opportunities from FTAs
Leaders of the Quang Ninh Province Business Association said that in the context of the current global economic recession, a decline in export orders is inevitable. Therefore, to ensure the export growth target, economic experts said that businesses must grasp market signals well and especially take advantage of opportunities from the FTAs that Vietnam has signed.
On the Quang Ninh side, the province has determined that promoting propaganda and dissemination of content and policies on FTAs is very important so that state management agencies as well as businesses and people can promptly grasp and apply them flexibly and effectively.
Accordingly, departments, branches and localities pay attention to the work of propagating and disseminating the policy contents of new-generation FTAs to cadres, civil servants, public employees, organizations and enterprises in the province, especially about new-generation FTAs that Vietnam has signed such as: Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), FTA between Vietnam - European Union (EVFTA), FTA between Vietnam - United Kingdom (UKVFTA)...
The province also strengthens measures and mechanisms to encourage and guide foreign-invested enterprises to connect with domestic enterprises, contributing to the formation and development of supply chains.
Currently, many products of the province are deeply processed and meet export standards to European, American and Japanese markets, such as: oyster floss, Pacific shrimp; turmeric; candles... Thereby, contributing to the economic development of the province.
In the first quarter of 2024 alone, the export turnover of enterprises in the province is estimated to reach 791 million USD, an increase of 17.42% over the same period in 2023, an increase of 1.2% compared to the growth scenario.
In the coming time, Quang Ninh will continue to deploy and implement the FTA plans that Vietnam has signed; review and evaluate the roadmap for implementing current international economic integration commitments and the impact on each industry and sector to adjust the industry development strategy accordingly, promptly grasp emerging issues and propose solutions.
The province also strengthens support measures, enhances competitiveness, develops brands for industries and businesses; removes difficulties and policy obstacles to develop domestic raw materials to help businesses meet rules of origin, and better utilize opportunities brought about by FTAs, especially new-generation FTAs.
At the same time, focus on innovating the form and content of propaganda and dissemination of FTAs and coordinate with the Ministry of Industry and Trade to receive, operate, upgrade and develop the Vietnam Free Trade Agreement Electronic Information Portal (FTAP), to connect businesses with state management agencies in the process of implementing FTAs and support businesses during the integration period.
Source: https://baoquocte.vn/fta-doi-canh-cho-doanh-nghiep-quang-ninh-bay-xa-277116.html
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