The ministry attributed the results to the EU-Vietnam Free Trade Agreement (EVFTA), which took effect more than a year ago, according to Vietnamese media reports.
The export revenue of products using the EU certificate of origin reached about $7.8 billion. A fifth of local enterprises have taken export tax incentives from the EVFTA with that certificate. For shipments to the EU worth less than €6,000, local enterprises are allowed to self-certify origin. This helps ensure smaller businesses do not have to spend time applying for such certification, while still being able to enjoy tax incentives.
ALCHEMPro News Desk (DS)
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