FTAs generate opportunities, challenges to Vietnam’s agriculture
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) will create opportunities for Vietnam to boost agricultural exports and improve the capacity of the domestic farming sector, heard a conference in Hanoi on June 26.
Hanoi (VNA) – The Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) will createopportunities for Vietnam to boost agricultural exports and improve thecapacity of the domestic farming sector, heard a conference in Hanoi on June26.
Apartfrom opportunities, the two deals will create remarkable challenges to thecountry’s agriculture, said Minister of Industry and Trade Tran Tuan Anh, citingthe EVFTA with tax commitments and regulations on product origin as an example.
EchoingAnh’s views, Minister of Agriculture and Rural Development Nguyen Xuan Cuongsaid Vietnam will have to engage in a competition with other member countriesof the two deals like Canada, Australia and New Zealand which also havepotential for agricultural development.
Oneof the biggest problems is the small scale of the agricultural production, hesaid, explaining that Vietnam has only 8.6 million farming households and 10million ha of arable land, but has to compete with countries with greater landresources.
Giventhis, the minister suggested mobilising faming households to participate incooperatives and join hands with businesses in this sphere.
Besides,products must fulfill standards and requirements set by both domestic andforeign markets, he said, noting that the work requires joint efforts of the Government,State, businesses and farmers.
Healso lauded the adaptability of the Vietnamese economy and the domesticagricultural sector in particular, which has been demonstrated through theimplementation of 12 free trade agreements.
Otherparticipants at the event said that Vietnam will find it hard to use thenon-tariff barrier as a protective measure due to its limited legal capacityand scientific evidence.
Meanwhile,the domestic agricultural sector will face a fiercer competition with foreignproducts which are expected to flood the Vietnamese market following thereduction of the tax barriers as committed in the agreements, he said.
Besides,regulations on food safety and hygiene, and technical standards in pickymarkets like Japan and EU countries will also challenge the sector.
TheEVFTA and the EU-Vietnam Investment Promotion Agreement (EVIPA) are scheduledto be signed in Hanoi on June 30.
Vietnamhas, to date, engaged in a total of 16 FTAs, both bilaterally andmultilaterally.-VNA
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With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
At the conference (Photo: VNA) 
