Seminar seeks sustainable export in context of FTAs implementation

Illustrative image (Photo: VNA)

A seminar has been recently held in Hanoi to discuss developing sustainable export in the context of free trade agreements (FTAs) implementation.

Speaking at the event, Deputy Director of the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency Le Hoang Tai said under the impact of the COVID-19 pandemic over the past two years, the agency has actively used modern technology and launched digital transformation in trade promotion activities.

In order to help firms penetrate markets effectively, the agency and the Vietnamese trade offices abroad held over 60 sessions to offer consultancy to them, especially those related to capacity and technological transfer, he added.

Vuong Duc Anh, Chief of the Office of the Vietnam National Textile and Garment Group (Vinatex)’s Board of Directors, said in 2020 when COVID-19 broke out, Vietnam surpassed Bangladesh to become the second biggest exporter of apparel, only behind China.

Though its exports hit 40 billion USD in 2021 and profit reached a record of nearly 1.5 trillion VND, the sector has yet to make the best use of FTAs due to rules of origin and self-sufficiency of materials.

Between now and 2025, Vinatex targets becoming a one-stop supplier of yarn, fabric and end-products for knitwear, especially green products to meet demand of big retailers.

Illustrative image (Photo: VNA)

Vice President and General Secretary of the Vietnam Leather, Footwear and Handbag Association Phan Thi Thanh Xuan said the rate of domestically made products in the sector now reaches 55%. The figure is expected to increase to 70-80% in the near future.

Economist Le Quoc Phong said the State should issue policies to improve export in terms of quality and added value, raise the rate of domestically-made items, use technological advances, and enhance the competitiveness of exporters.

Tai called for attention to human resources training, not only in production but also in trade to achieve sustainable and more effective exports./.

VNA