Workers at a furniture manufacturing company in Bình Định Province. The UK – Việt Nam Free Trade Agreement is one the key drivers of growth in timber and wood product exports to the UK. — VNA/VNS Photo
HANOI: Thanks to advantages from free trade agreements (FTAs), the Central Highlands province of Gia Lai has achieved its export turnover target of US$750mil two months earlier than planned.
The province’s agricultural products account for more than 83% of total export turnover, forestry products and other products account for 15%.
Moreover, the province will continue to develop key export products such as coffee, pepper, cashew nuts and rubber latex.
In addition, the province will also promote the expansion of potential products such as roasted coffee, instant coffee, canned fruit and fruit juice to markets that have signed FTAs with Vietnam such as the Comprehensive and Progressive Trans-Pacific Partnership, Vietnam-European Union (EU) Free Trade Agreement and the UK-Vietnam Free Trade Agreement.
In addition, the provincial agencies and import-export enterprises have also quickly adjusted export strategies to comply with new regulations of demanding markets such as the EU.
The EU has now officially issued the EU Deforestation Regulation which applies to seven groups of imported goods into the market.
Vietnam has three main affected industries: wood, rubber and coffee. — Viet Nam News/ANN
