Exporters urged to early adapt to European Green Deal
To gain a firm foothold in the European market, Vietnamese enterprises have been advised to soon adapt to the European Green Deal (EGD) to meet new requirements of this choosy market.
Workers at Garment 10 Joint Stock Company. (Photo: VNA)
Hanoi (VNA) – To gain a firmfoothold in the European market, Vietnamese enterprises have been advised to soon adaptto the European Green Deal (EGD) to meet new requirements of this choosy market.
According to the Vietnam Chamber ofCommerce and Industry (VCCI)’s Centre for WTO and International Trade, in thefirst 10 months of 2023, Vietnam’s export value to the EU surpassed 36 billionUSD.
To achieve sustainable export, it isnecessary to have appropriate preparations and be ready to comply with the EGD,which is an urgent requirement for Vietnamese manufacturers and exporters inthe coming time, according to experts.
However, a recent survey by the VCCI showedthat 88-93% of respondents have never heard or have only briefly heard aboutthe deal.
The EGD, launched in 2020, is a package ofpolicy initiatives aiming to set the EU on the path to a green transition, withthe ultimate goal of reaching climate neutrality by 2050.
In fact, since the enforcement of this deal,there have been many green policies that have directly affected foreign goods importedinto this region as well as production and export of products fromVietnam to this market.
Accordingly, Vietnam’s exports forecast tobe most impacted by the green transition process in the EU in the coming timeinclude electric and electronic products, machinery, equipment andcomponents, farm produce, aquatic products, wood and wooden products, iron andsteel, garments, and footwear.
Illustrative image (Photo: VNA)
VCCI Vice President Nguyen Quang Vinh saidthat as regulations on the EGD are diverse, without a common roadmap, Vietnamesebusinesses need to proactively learn about and understand the regulations andpolicies which have affected the industries and products so as to have thoroughpreparations and suitable transition.
Some economists advised businesses themselves to identify difficulties andchallenges facing their products caused by EGD regulations so as to accuratelygrasp and regularly update specific EU green policies related to each type ofexport to gradually adapt to and ensure compliance with mandatory requirements.
They also stressed the need for the Stateto issue policies to support enterprises in green industrial development, and thoseto attract more investment./.
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Workers at Garment 10 Joint Stock Company. (Photo: VNA) 
Illustrative image (Photo: VNA) 
