(PLO)- Vietnamese businesses need to improve their readiness level, proactively learn about labor requirements to take advantage of market opportunities, ensure strict compliance with EU import standards and regulations, America.
On October 17, in Hanoi, the Central Institute for Economic Management (CIEM) organized a seminar “Opportunities and challenges for Vietnamese businesses and export supply chains”.
In recent years, Vietnam has achieved many important achievements in economic development, including the important role of world economic integration, actively participating in the network of FTAs (Free Trade Agreements). “new generation”).
To date, Vietnam has participated in and is negotiating 17 FTAs, of which 4 agreements contain labor commitments and are classified as “new generation”.
Speaking at the conference, Dr. Dang Duc Anh, Deputy Director of the Central Institute for Economic Management (CIEM), said that the implemented FTAs allow Vietnamese exports to enjoy preferential tax rates when accessing markets in over 50 countries, including most of the largest trading partners, accounting for over 70% of total export turnover.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Free Trade Agreement between Vietnam and the European Union (EU) – EVFTA are considered new generation FTAs, in line with the trend. development of modern trade. The “new” nature of these agreements includes a high degree of liberalization for trade and investment, advanced trade rules, and non-traditional commitments.
Thanks to that, FTAs not only open up potential trade opportunities with developed economies but also make an important contribution to promoting the process of institutional reform, perfecting the legal framework and trade enforcement. – investment in our country.
Mr. Duong Duc Anh said that new generation FTAs contain many regulations regulating domestic trade policies of member countries and pay special attention to the goal of sustainable development. This is reflected in regulations that do not fall into the commercial category (environment, labor…) but will be bound to be implemented.
For example, CPTPP and EVFTA do not set new requirements compared to common international standards on labor and the environment. Member states are obliged to participate in specific international treaties that have been widely recognized internationally in this field.
Domestically, to implement non-traditional commitments, specifically in the field of labor, Vietnam has been internalizing international labor standards and gradually implementing them in practice.
“Along with mechanisms to promote the implementation of FTAs, recently, Vietnam’s major trading partners such as the EU and the US have also strengthened the implementation of sustainable development commitments through the Law on Appraisal of Supply Chain Responsibility , requiring businesses in their country to be responsible for monitoring the supply chain.
To be able to access these markets, businesses participating in the global supply chain will have to demonstrate compliance with sustainable development standards, including international labor standards,” Mr. Duc Anh noted.
Sharing at the conference, Dr. Nguyen Minh Thao, Head of the Business Environment and Competitiveness Research Department (CIEM), said that VN-EAEU’s labor commitment is at the lowest level, higher than EVFTA/ UKVFTA and the highest level commitment is CPTPP. The US market’s requirements on international labor standards are equivalent to CPTPP commitments.
To effectively exploit FTAs and enhance the position of Vietnamese enterprises, Ms. Thao proposed that state management agencies need to reform according to international practices, internalize commitments and effectively implement them. , including labor commitments.
Along with that, it is necessary to reform and improve the business environment in the direction of ensuring business freedom, business safety, reducing compliance costs, and encouraging creativity.
Ms. Thao acknowledged that we need to improve the capacity of domestic enterprises and create breakthroughs in attracting quality FDI from member countries participating in the FTA; At the same time, support businesses to implement conditions as committed and reduce costs of compliance with trade barriers.
In addition, businesses need to improve their level of readiness and proactively learn about labor requirements to take advantage of market opportunities; Ensuring strict compliance with import standards and regulations of the EU, CPTPP countries, the US,…
Businesses connect with each other to promote cooperation, specialization, create production and export chains, and diversify markets.
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MINH TRUC
