RCEP - Opportunities for Exports

Thai Nguyen is making a strong breakthrough on the regional economic map by effectively leveraging opportunities from the Regional Comprehensive Economic Partnership (RCEP). Key industries and high-tech projects are contributing to enhancing export capacity, while simultaneously promoting infrastructure development, training high-quality human resources, and expanding markets, creating new impetus for sustainable growth.

Thanks to strategic industrial projects, Thai Nguyen has transformed key products such as telephones, electronic components, solar energy modules, and textiles into export-oriented "boosts." (In the photo: Production of electronic components for export at Yen Binh Industrial Park. Photo: Provided)

A vast market, a golden opportunity.

RCEP opens up a vast market and a "golden" opportunity for Thai Nguyen to enhance its competitiveness and promote rapid and sustainable economic growth. With 15 member countries including ASEAN nations, China, Japan, South Korea, Australia, and New Zealand, this agreement accounts for nearly 30% of the global population and GDP, creating conditions for Thai Nguyen businesses to access markets with high purchasing power, high production standards, and a stable trade environment.

Mr. Nguyen Van Tho, Director of the Department of Industry and Trade of Thai Nguyen province, said: Immediately after the Prime Minister approved the Plan for implementing the Agreement (January 4, 2022), the Department advised the Provincial People's Committee to issue Plan No. 50/KH-UBND (March 28, 2022) clearly assigning tasks to each unit. Along with that, trade connection programs, guidance on origin certification, and investment promotion have been implemented synchronously, helping businesses proactively improve products, enhance competitiveness, and maximize the benefits from RCEP.

Joining RCEP has become a major boost for key industries in Thai Nguyen, especially the high-tech sector.

A newly constructed PVC flooring factory, now operational in Song Cong II Industrial Park, contributes to increasing industrial production value and boosting exports in the province.

The province has attracted many large-scale projects, creating a solid foundation for deeper participation in the global supply chain. Notable examples include the Samsung Thai Nguyen High-Tech Complex, Samsung Electro-Mechanics Vietnam, Vietnam High-End Shirt Fabric Factory, Dongwha Vietnam MDF, Hansol Vietnam, Ket Vina II Factory, along with numerous research and production projects for electronic components, PVC flooring panels, etc.

RCEP is a free trade agreement (FTA) between the 10 ASEAN countries and 5 partners: China, South Korea, Japan, Australia, and New Zealand. The agreement accounts for approximately 30% of global GDP. Signed in November 2020 and effective from January 1, 2022, RCEP creates the world's largest free trade area and is expected to eliminate up to 90% of tariffs within 20 years between its members.

RCEP encompasses various areas such as trade in goods and services, investment, intellectual property, e-commerce, and customs procedures. A key highlight of this agreement is the harmonization of rules of origin, which facilitates supply chains in the region.

Thanks to strategic industrial projects, Thai Nguyen has transformed key products such as telephones, electronic components, solar energy modules, and textiles into export drivers, boosting export turnover and enhancing the province's position on the regional and international economic map.

Local businesses are increasingly proactively participating in global supply chains, focusing on improving management capacity, productivity, and innovation in product development, thereby affirming the "Made in Thai Nguyen" brand in the international market.

Workers at Vietnam Misaki Co., Ltd. (Thanh Binh Industrial Park) focus on producing and completing orders of agricultural products for export to the Japanese market. Photo: Provided.

Mr. Ha Hung Yen, Administrative Manager of Chung Jye Bac Kan Shoe Manufacturing Co., Ltd. - Vietnam, shared: The company was established on January 8, 2024, in Huyen Tung Industrial Cluster, with an investment of 25 million USD and a production capacity of 10 million pairs of shoes and sandals per year. The factory has commenced operations, with the main markets being Taiwan (China) and Southeast Asian countries. This project effectively utilizes tariff preferences and supply chains from RCEP member countries, helping to enhance competitiveness and expand international markets.

Benefits from the RCEP Agreement:

- Many import and export items enjoy tax rates of 0-5%, reducing export costs.

- Vietnamese goods are recognized as having their origin verified, allowing them to benefit from preferential tariffs from RCEP countries.

- Direct access to 15 member countries, including ASEAN, China, Japan, South Korea, Australia, and New Zealand.

- Facilitate the movement of raw materials, components, and intermediate products between member countries.

- Encourage businesses to improve quality, innovate technology, and meet international standards.

Similarly, Ngoc Minh Production, Trading and Service Co., Ltd. (Cam Giang commune) has taken advantage of RCEP to connect export orders for refined wood directly to China and South Korea. According to Mr. Mai Duy Toan, Director of the company, this is an important step that helps local businesses expand their market share, contributing to bringing Thai Nguyen wood products further into the international market.

Besides its strong industrial sector, Thai Nguyen also leverages its local agricultural advantages. Characteristic products such as tea, vermicelli, turmeric, and apricots are gradually conquering markets within the RCEP bloc, contributing to economic diversification, creating a balance between modern industry and traditional agriculture, and aiming for sustainable and harmonious development. The province is also developing a strategy to promote OCOP products and accelerating the standardization of production processes so that agricultural products can participate more deeply in the regional value chain.

"Leverage" for businesses

Processing minerals for export is one of Thai Nguyen province's strengths.

Beyond simply attracting investment, Thai Nguyen province is actively promoting administrative reforms, simplifying import and export procedures, and supporting businesses in accessing international market information. Simultaneously, the province is focusing on training high-quality human resources, improving foreign language skills, international trade knowledge, and modern production technology, helping businesses confidently integrate and maximize the benefits of RCEP.

According to the Department of Industry and Trade of Thai Nguyen province, in the first 10 months of 2025, the total value of imports and exports of the province is estimated to reach 42.6 billion USD; the value of goods exports alone reached 25.9 billion USD, an increase of 7.3% compared to the same period in 2024.

Of this total, exports to RCEP countries reached US$5.7 billion, accounting for 23.4% of total exports, with key items including mobile phones, tablets, electronic components, solar energy modules, textiles, plastics, and processed wood. Conversely, imports from the RCEP region reached US$13.7 billion, accounting for 88.4% of total imports, mainly machinery, components, supplies, and raw materials for production.

The import and export situation in Thai Nguyen province during the first 10 months of 2025:

- Total import and export turnover: 42.6 billion USD

- Goods exports: US$25.9 billion, an increase of 7.3% compared to the same period in 2024.

- Exports to RCEP: $5.7 billion (accounting for 23.4%)

Main products: Mobile phones, tablets, laptops, electronic components, solar energy modules, textiles, plastics, wood.

- Imports of goods: Approximately $16.7 billion

- Imports from RCEP: $13.7 billion (accounting for 88.4%)

Main products: Machinery, electronic components, metal materials, plastics, fabrics, optical products, paper packaging.

These figures affirm Thai Nguyen's solid progress in expanding its market, enhancing product value, and deeply integrating into the regional supply chain. In particular, the stable growth year after year demonstrates the province's ability to quickly adapt to regional economic fluctuations, especially after RCEP officially came into effect.

Textiles and garments are one of the key export industries of Thai Nguyen province, playing an important role in trade relations with RCEP member countries.

However, opportunities always come with challenges. Businesses still face difficulties regarding technical standards, high logistics costs, limited human resources, and a lack of market information. To overcome these challenges, the Department of Industry and Trade is coordinating with ministries, agencies, and Vietnamese trade offices abroad to support businesses in building brands, connecting trade, promoting investment, and expanding exports.

Mr. Nguyen Ba Hai, Deputy Director of the Center for Investment Promotion and Trade Development (Ministry of Industry and Trade), emphasized: With its advantageous location, infrastructure, and human resources, Thai Nguyen is becoming a bright spot in attracting international investment. We will continue to accompany and support businesses in expanding their markets, especially in Japan, South Korea, and China - important partners in the RCEP bloc.

With the support of central agencies, local authorities, and the business community, Thai Nguyen is facing a golden opportunity to break through and affirm its position as a new bright spot in international economic integration. Effectively utilizing RCEP will not only help expand export markets but also create momentum for industry, agriculture, services, and logistics infrastructure – fundamental elements for Thai Nguyen's dynamic development, confident integration, and steady progress on the path to sustainable growth.

Source: https://baothainguyen.vn/kinh-te/202511/rcep-co-hoi-cho-xuat-khau-dbe168d/