Tridge summary
The Vietnam-EU Free Trade Agreement (EVFTA), effective from Aug 1, will likely boost Vietnam's rice exports in the second half of this year, with the EU committing to an annual quota of 80,000 tonnes to Vietnam. This is due to the reduced tariffs and conditions set by the EU. The Ministry of Agriculture and Rural Development (MARD) and the Ministry of Industry and Trade (MoIT) are working on a draft decree to guide the certification process for rice categories exported to the EU. The agriculture sector expects to see a significant increase in exports of key products like rice, sugar, pork, forest products, and cattle and poultry meat by 2025. However, local farmers and businesses in the agriculture sector need to improve production capacity and product quality, find export markets, and build brands for agricultural products.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
HANOI (Vietnam News/ANN): Rice quotas for Vietnam under the EVFTA are expected to push Vietnam's rice exports up from the second half of this year, according to the Ministry of Industry and Trade (MoIT). Under the Vietnam-EU Free Trade Agreement (EVFTA) effective from Aug 1, the EU pledges to provide an annual rice quota of 80,000 tonnes to Vietnam Tran Thanh Hai, deputy director of MoIT’s Import and Export Department, said that in 2019, Vietnam had a modest value at US$10.7 million from rice exports to the EU because of high import tariffs in this market. At present, the EU’s import tariffs for Vietnamese rice is 175 euros ($198) per tonne of milled rice, 65 euros per tonne of broken rice and 211 euros per tonne of paddy. "The rice quotas of 80,000 tonnes to Vietnam according to the commitments in the EVFTA is an opportunity for Vietnam to enhance its rice exports to this market, which has annual demand of about 2.5 million tonnes of rice," Hai told the Hai quan (Customs) ...
Source: The Star
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