New-generation FTAs ​​have a positive impact on import and export.

The Ministry of Industry and Trade recently issued Document No. 5545/BCT-DB dated August 16, 2023, on the results of the implementation of the Comprehensive and Progressive Trans -Pacific Partnership Agreement (CPTPP), the European Union-Vietnam Free Trade Agreement (EVFTA), and the Vietnam-UK Free Trade Agreement (UKVFTA) by ministries, sectors, and localities in 2022.

New-generation FTAs ​​have a positive impact on Vietnam's exports, imports, and investment activities.

The Ministry of Industry and Trade affirms that new-generation FTAs, including CPTPP, EVFTA, and UKVFTA, have a positive impact on Vietnam's export and import activities and investment attraction.

For example, under the CPTPP Agreement, in 2022, trade turnover between Vietnam and CPTPP countries reached US$104.5 billion, an increase of 14.3% compared to 2021. Of this, Vietnam's exports to CPTPP countries reached US$53.6 billion, an increase of 17.3% compared to 2021. Vietnam's imports to CPTPP countries reached US$50.9 billion, an increase of 11.3% compared to 2021.

Notably, Vietnam's exports to 8 out of 10 CPTPP member countries showed positive growth, with some markets like Brunei experiencing increases of up to 163%. While Mexico and Peru recorded declines in growth (Mexico down 0.5% and Peru down 5.5%), Canada, the largest market, still saw growth of nearly 20.1%.

Regarding the EVFTA agreement, in 2022, trade between Vietnam and the member countries of the European Union (EU) reached US$62.24 billion, an increase of 9.2% compared to 2021.

On the export side, Vietnam's exports to EU countries reached US$46.8 billion, an increase of 16.7% compared to 2021. Imports from EVFTA countries reached US$15.4 billion, a decrease of 8.6% compared to 2021.

Exports to the EU under the EVFTA Certificate of Origin (EUR.1 form) reached US$12.1 billion, accounting for 25.9% of total exports to the EU, an increase of 49.4% compared to 2021.

Regarding the UKVFTA agreement, in 2022, trade between Vietnam and the United Kingdom reached US$6.8 billion, an increase of 3.3% compared to 2021. Vietnam's exports to the United Kingdom reached US$6.1 billion, an increase of 5.2% compared to 2021, while imports from the United Kingdom reached US$771 million, a decrease of 9.8% compared to 2021.

Exports to the United Kingdom under the EUR.1 Certificate of Origin reached US$1.4 billion, accounting for 23.5% of total exports to the UK. Many important Vietnamese products exported to the UK continue to show positive utilization rates.

In addition, the dissemination of information, enhancement of competitiveness, and development of human resources regarding the CPTPP, EVFTA, and UKVFTA agreements have been implemented by ministries, sectors, and localities, yielding positive results.

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