Processing pangasius for export at Sao Mai Group’s factory in An Giang Province. (Photo: Vũ Sinh/TTXVN)
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In the wave of global economic integration, Free Trade Agreements (FTAs) have become the “golden key” unlocking global markets for Vietnamese goods.
Amid the unpredictable fluctuations of the world economy, effectively leveraging FTAs is not just an opportunity but a critical strategy to enhance competitiveness and solidify Vietnam’s position on the global stage.
FTAs as Catalysts for Competitive Edge
As the global economy faces unprecedented volatility, the quest for new markets has become more urgent than ever. For years, Vietnam has pursued a strategy of diversifying markets, products, and distribution channels to maintain and strengthen its position in international trade. A cornerstone of this strategy is the effective implementation of signed FTAs. Through these agreements, Vietnam gains access to potential markets with preferential tariffs, enhances its competitive edge, improves product quality, and integrates more deeply into the global value chain.
Notably, new-generation FTAs such as CPTPP, EVFTA, and RCEP have delivered exceptional benefits.
Mr. Nguyễn Văn Hội, Director of the Institute for Strategy and Policy Research in Industry and Trade, emphasizes: “These FTAs not only boost traditional trade but also expand into non-traditional areas like environment, labor, and transparency, setting higher standards for businesses.” This highlights that FTAs are not merely trade tools but catalysts for institutional reform and national competitiveness.
With 17 signed FTAs, Vietnam has achieved impressive export milestones. These agreements have not only reduced production costs but also refined policies and expanded opportunities for foreign investors.
Mr. Vũ Bá Phú, Director of the Trade Promotion Agency under the Ministry of Industry and Trade, shares: “This year’s export-import targets set by the Government for the industry are ambitious yet promising, aiming for a 12% increase in total export turnover and a trade surplus of approximately 30 billion USD.”
Rice packaging line for export in An Giang Province. (Photo: Hồng Đạt/TTXVN)
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In reality, the trade landscape for the first eight months of 2025 has shown promising signs, with total import-export turnover nearing 600 billion USD, a 16.3% increase compared to the same period last year. This momentum is crucial as the economy enters the 2026-2030 phase with sustainable growth goals.
Challenges from Stringent Standards
The Free Trade Agreement between Vietnam and the European Union (EVFTA), effective since August 2020, has been a significant boost for Vietnamese exports to the EU—a high-purchasing-power market with stringent standards.
Mr. Trần Ngọc Quân, Trade Counselor in Belgium and the EU, affirms: “EVFTA has provided Vietnam with a substantial advantage, offering businesses the chance to diversify markets and increase their presence in Europe.” Since the agreement’s implementation, two-way trade between Vietnam and the EU has surged from 55.4 billion USD in 2020 to 68.3 billion USD in 2024, demonstrating the agreement’s clear impact on key export sectors.
However, opportunities come with challenges. Mr. Trần Ngọc Quân also warns that Vietnamese businesses will face tighter food safety inspections and safeguard measures on steel and alloys.
Ms. Nguyễn Thị Hoàng Thúy, Trade Counselor in Sweden, stresses: “In the long term, as Europe returns to sustainable development, only businesses meeting green standards and practicing responsible production will maintain their position. This is a mandatory condition, no longer a choice.” These stringent requirements pose a complex challenge for Vietnamese businesses, requiring them to meet high standards while competing with international rivals.
To sustain advantages and expand market share in the EU, Vietnam needs a cohesive strategy. On the policy front, enhanced coordination with industry associations, stricter origin management to prevent circumvention, and maximum utilization of EVFTA and other FTA mechanisms are essential.
Experts also advise businesses to innovate products and services, upgrade management capabilities, adopt digital technology, and build strong brands. Specifically, improving export quality, increasing localization rates, innovating technology, and establishing sustainable supply chains are critical for enhancing competitiveness.
Additionally, transitioning to green, sustainable production models is imperative. Businesses must invest in processing, packaging, and traceability technologies to meet the EU’s stringent standards from the outset. Equally important is addressing food safety warnings to maintain market trust.
FTAs, particularly EVFTA, have opened vast opportunities for Vietnamese exports but also present challenges requiring flexibility and creativity from both the government and businesses. Effectively leveraging these agreements not only helps Vietnamese goods reach further but also enhances national prestige and drives sustainable economic development. The integration journey is never easy, but with unity and determination, Vietnam can turn challenges into opportunities to assert its global position.
Hồng Kiều
– 10:48 19/09/2025
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