EVFTA promises fresh opportunities for SMEs

The EU-Vietnam Free Trade Agreement is expected to bring about a slew of new opportunities for small and medium-sized enterprises when the pact comes into force with the elimination of tariff lines and other obstacles facing Vietnamese exports to the European market.
evfta promises fresh opportunities for smes hinh 0
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.

VOV

Other News

SBV raises short-term capital lending cap to 40%

SBV raises short-term capital lending cap to 40%

The new circular will help credit institutions have more room to provide capital to businesses and investment projects to support high economic growth in the next few years, while increasing flexibility in the SBV’s monetary policy management.

Business confidence in Vietnam rebounds strongly: UOB

Business confidence in Vietnam rebounds strongly: UOB

The study found that 85% of Vietnamese enterprises reported positive business sentiment, a sharp increase from 48% in 2025, when business confidence was weighed down by uncertainties surrounding US tariff policies and related trade developments.

Bac Ninh seeks high-quality foreign investment for sustainable growth

Bac Ninh seeks high-quality foreign investment for sustainable growth

According to Vice Chairman of the provincial People’s Committee Pham Van Thinh, the province aims to maintain stable and sustainable growth, improve the competitiveness of both the economy and local businesses, and make better use of free trade agreements (FTAs) to expand and diversify export markets.

Green building trend flourishes in Ho Chi Minh City's real estate landscape

Green building trend flourishes in Ho Chi Minh City's real estate landscape

The International Finance Corporation (IFC) highlighted the city's dominance in green-certified building floor space in Vietnam, reflecting the rapid expansion of the green building market with 780 completed green buildings encompassing over 18.69 million sq.m by 2025, predominantly certified by EDGE and LEED.

UK supports Vietnam in wind power and green finance development

UK supports Vietnam in wind power and green finance development

The United Kingdom officially announced two new climate cooperation initiatives to support Vietnam in its energy transition and green growth journey. These programs focus on offshore wind power development and the creation of a sustainable green financial ecosystem.

Ample room remains for Vietnam–India logistics cooperation

Ample room remains for Vietnam–India logistics cooperation

The GTTCI expert noted that alongside logistics and integrated warehousing, e-commerce is expected to be a particularly high-growth sector in the coming years. He described it as a multi-billion-dollar market with significant untapped opportunities for cooperation between Vietnam and India.

Exports gain momentum from high-tech growth drivers

Exports gain momentum from high-tech growth drivers

According to the Ministry of Industry and Trade, Vietnam’s exports reached 215.66 billion USD in the first five months of 2026, up 19.5% year-on-year. Twenty-six export items generated more than 1 billion USD in revenue each, including seven with turnover exceeding 10 billion USD.

Vietnam–China crossings see spike in ASEAN fresh produce

Vietnam–China crossings see spike in ASEAN fresh produce

Since the start of the summer harvest season, China's two major border gates with Vietnam, Youyi Guan in Pingxiang and Beilun 2 Bridge in Dongxing, have entered their peak period for handling imports of fresh agricultural and seafood products from member states of the Association of Southeast Asian Nations (ASEAN).

Cargo handling operations at Berths 3 and 4 of the Hai Phong International Gateway Port. (Photo: VNA)

AI reshapes logistics, raising bar for workforce skills

According to the Vietnam Logistics Business Association (VLA), the logistics sector will require around 2.2 million workers by 2030, including 1.6 million employees for logistics service providers and nearly 600,000 personnel supporting logistics operations in manufacturing and trading enterprises.

Robust dispute resolution framework key to Vietnam's IFC ambitions

Robust dispute resolution framework key to Vietnam's IFC ambitions

The development strategy for VIFC-HCMC envisions a comprehensive financial ecosystem encompassing green finance, carbon credits, financial technology (fintech), blockchain technology, digital assets, digital banking and other innovative business models. These highly internationalised sectors involve complex cross-border transactions and sophisticated legal structures.