Vietnam-EU trade rises by 14.8% in 2021

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European Union (EU)-Vietnam trade rose by 14.8 per cent in 2021 to $63.6 billion despite the influence of the COVID-19 pandemic. In accordance to the ministry of business and trade (MoIT), Vietnam exported $45.8 billion value of products to the EU previous year, up by 14.2 for every cent yr on year (YoY), although importing $17.9 billion well worth of goods from the market, a increase of 16.5 per cent.

The ministry attributed the success to the EU-Vietnam Totally free Trade Agreement (EVFTA), which took outcome more than a year in the past, according to Vietnamese media studies.

The export earnings of items utilizing the EU certification of origin reached about $7.8 billion. A fifth of neighborhood enterprises have taken export tax incentives from the EVFTA with that certification. For shipments to the EU well worth considerably less than €6,000, regional enterprises are authorized to self-certify origin. This

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