EVFTA helps boost Vietnam’s cashew nut export to France
Vietnam should fully tap benefits from tariff reduction and exemption brought by the EU – Vietnam Free Trade Agreement (EVFTA) to promote cashew nut export to France, said insiders.
Hanoi (VNA) – Vietnam should fully tap benefits from tariff reduction and exemption brought by the EU – Vietnam Free TradeAgreement (EVFTA) to promote cashew nut export to France, said insiders.
The tax rate for Vietnamese cashew products imported into the EU was cut down to0% after the EVFTA took effect on August 1, 2020, creating a significantcompetitive advantage for this commodity.
This reduction is very important because before having the EVFTA, the tarifffor Vietnamese cashew nuts ranged from 7% to 12%.
Vietnamese Trade Counselor in France Vu Anh Son said the agreement is a good tool helping Vietnam expand its cashew export to the EU in general and France in particular.
According to Vietnamese Trade Office in France, in2019-2020, Vietnam's cashew market share in France decreased from 61% to 46%.At supermarkets and hypermarkets, there were almost no Vietnamese-branded cashewproducts because the domestic enterprises mainly focused on wholesale, notretail.
Experts have warned that Vietnamese cashew nuts have faced competition in theEU market.
Export firms are advised to ensure regulations on origin and food safety, consultlawyers about relevant to laws, and update latest information related to ordersand transactions to avoid risks.
DangHoang Giang, Secretary General of the Vietnam Cashew Association (Vinacas) has recommended theMinistry of Industry and Trade take measures to conretise cooperationagreements through FTAs, especially EVFTA, thus maximizing profits for local exporters.
Trade promotion agencies should provide more information and forecasts of consumptiontrends in EU markets, including France; and support Vinacas to expand trade partnerships with EU importers,Giang said.
Vietnam aims to earn 3.8 billion USD fromexporting cashew nuts this year, an increase of 200 million USD year-on-year.
The EU is now Vietnam’s second-largestcashew export market, accounting for 23% of the volume and 22% of the value.
Last year, Vietnam shipped 135,000 tonnes of cashew nuts worth 816 million USD tothe EU, up 16.5% in volume and 7.9% in value compared to 2020./.
The target of 3.8 billion USD in export revenue of cashew nuts for this year set by the Ministry of Agriculture and Rural Development (MARD) is quite feasible given the forecast on high demand for the product in the time to come, according to experts.
Vietnam shipped a total of 105,000 tonnes of cashew nuts abroad in Q1, earning 630 million USD, down 6.7 percent in volume and 5 percent in value compared to those in the same period of last year, according to the General Department of Vietnam Customs.
The last of the 35 cashew nut containers, the original documents of which were claimed by Vietnamese exporters to be missing because of a suspected scam, have been ultimately released under an Italian court rule.
Vietnam exported over 206,000 tonnes of cashew nuts worth 1.19 billion USD in the first five months of 2022, down 7.81% in volume and 6.81% in value, the Vietnam Cashew Association (VINACAS) reported.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
Processing cashew nuts for export (Photo: VNA) 
