EVFTA promises fresh opportunities for SMEs
![]() |
At the event (Photo: VOV)
The remark was highlighted at a workshop jointly held by the Ministry of Industry and Trade (MoIT) and the EU Delegation to Vietnam in Ho Chi Minh City on July 30.
According to the EU Delegation to Vietnam, cooperation bonds between both sides, including trade exchanges, have seen many thriving developments in the past years. The EU-Vietnam Free Trade Agreement (EVFTA), which was inked by both sides on June 30, will help to bolster the sustainability of bilateral cooperation.
Europe now represents the third largest market for Vietnamese exports and ranks fifth among countries and territories making foreign direct investment projects in Vietnam, situated only behind East Asian countries.
The EVFTA prescribes specific requirements and standards for imported goods to be implemented by small and medium - sized enterprises (SMEs). Indeed, these requirements are quite familiar to large exporters which make regular shipments to the trading bloc.
The trade deal is thought to pose a range of challenges to local businesses, especially SMEs, in standardizing their production processes in conformity with labour regulations and standards set for goods imported into the bloc.
Workshop attendees warned that agricultural enterprises must make more concerted efforts to improve the overall quality of farm produce and foodstuff as these items have yet to gain a firm foothold within the European market.
They urged local businesses to actively update EVFTA - related information prior to the implementation of the trade pact. Special attention should be paid to clarifying specific chapters and terms stipulated in the agreement.
Nguyen Son Tra, an official from the MoIT’s Multilateral Trade Policy Department, noted that firms must be more proactive in mastering the commitments which Vietnam and the EU have made in the EVFTA.
Companies also need to alter their way of doing business and view EVFTA challenges as a driving force for them to increase their own innovation and product quality, in a bid to better meet the EU’s requirements on imports.
Related News

In the first 15 days of 2025, total import-export turnover reached more than US$34 billion
09:58 | 06/02/2025 Import-Export

Highlights of imports and exports in 2024
20:30 | 25/01/2025 Import-Export

Vietnam-China trade hits record of US$200 billion
16:45 | 19/01/2025 Import-Export

Complying with regulations of each market for smooth fruit and vegetable exports
13:06 | 09/01/2025 Import-Export
Latest News

Sustainable fashion presents promising niche market for textile manufacturers
08:22 | 10/02/2025 Import-Export

VN's car industry to diversify supply chain
15:33 | 07/02/2025 Import-Export

Exports of agro-forestry-aquatic products down nearly 5 per cent in January
15:32 | 07/02/2025 Import-Export

Thailand reviews anti-dumping tax on Vietnamese steel
14:15 | 06/02/2025 Import-Export
More News

Pangasius fetch record price in early 2025
14:06 | 05/02/2025 Import-Export

Việt Nam and India trade reached $15 billion in 2024
14:05 | 05/02/2025 Import-Export

Việt Nam's port firms thrive in 2024
14:04 | 05/02/2025 Import-Export

Software exporter looks to new pace of growth
07:58 | 04/02/2025 Import-Export

Việt Nam's exports to EU see impressive recovery in 2024
07:56 | 04/02/2025 Import-Export

Việt Nam–CPTPP trade turnover exceeds $100 billion
14:28 | 03/02/2025 Import-Export

E-commerce, a game changer for textile manufacturers
19:04 | 01/02/2025 Import-Export

China remains the largest market for Việt Nam’s cassava and cassava products
20:57 | 31/01/2025 Import-Export

Hải Phòng seaport system strives to handle 112 million tonnes of cargo this year
20:54 | 30/01/2025 Import-Export
Your care

Sustainable fashion presents promising niche market for textile manufacturers
08:22 | 10/02/2025 Import-Export

VN's car industry to diversify supply chain
15:33 | 07/02/2025 Import-Export

Exports of agro-forestry-aquatic products down nearly 5 per cent in January
15:32 | 07/02/2025 Import-Export

Thailand reviews anti-dumping tax on Vietnamese steel
14:15 | 06/02/2025 Import-Export

In the first 15 days of 2025, total import-export turnover reached more than US$34 billion
09:58 | 06/02/2025 Import-Export