Paving the way for Vietnamese goods to reach the US market

After 2 years of implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), it shows the great impact of the Agreement on the development of the export market of Vietnamese goods to member countries of the Americas region. The CPTPP has been and is becoming a driving force to pave the way for Vietnamese goods to enter the American market, which is still very new and potential.

In 2020, despite being heavily affected by the COVID-19 pandemic, Vietnam's export turnover to the Americas region still achieved many encouraging results and became a bright spot in trade exchanges between Vietnam and countries around the world.

Following the report of the Ministry of Industry and Trade, in 2020, the total import-export turnover between Vietnam and the Americas will reach nearly 111.5 billion USD, up 16% compared to 2019; in which, exports reached 89.7 billion USD, up 21.7% and accounting for 31.7% of total exports of Vietnam.

In the two countries that have ratified the CPTPP Agreement, Canada and Mexico, Vietnam's export turnover in these two markets has grown strongly, reaching a turnover of $4.4 billion, up 45% and 3, respectively. 17 billion USD, up 41% over the same period in 2018.

Continuing the growth momentum, in the first 3 months of 2021, Vietnam's exports to CPTPP partners in the Americas also grew positively. Statistics show that in the first quarter of 2021, exports to Canada increased by 15% to $ 1.13 billion, exports to Chile increased by 12% to $ 321 million, Mexico increased by 17% to $ 931 million and Peru by 35%. reached 134 million USD…

At the seminar "CPTPP - An opportunity to expand the American market for Vietnamese exports" taking place on the morning of April 27, Deputy Minister of Industry and Trade Do Thang Hai said that the above figures have become dynamics. efforts to expand the road for Vietnamese goods to the American markets, which are still very new and potential.

However, to penetrate deeper into this market, Ms. Huong noted that Vietnamese businesses need to be more proactive in learning about the CPTPP. In addition, businesses need to learn more deeply about preferential import tax; compliance with rules of origin, stored procedures, proof of origin. Vietnamese businesses must continue to use e-commerce platforms to exchange, connect and cooperate with Canadian businesses in the context of the COVID-19 epidemic. For the US market, Mr. Dustin Daugherty, North American Business Development Manager Dezan Shira & Associates said that Vietnamese businesses need to pay attention to the rules of origin of goods, the value content of the domestic market, regulations related to calculation, the principle of accumulation…

It is not easy for Vietnamese businesses to bring goods to the US market and take advantage of incentives. Because not simply shipping goods to Mexico, Canada ... will receive the tax incentives that the US market stipulates with very specific items, not simply packing items but creating added value, just exported to the US to enjoy preferential treatment. Therefore, enterprises must carefully analyze the rules of origin, determine the level of difficulty and profit value after analyzing the costs and benefits...

Dustin Daugherty also said that there is currently no specific statement on the future of the CPTPP with the US, however, Vietnam can take advantage of the opportunities in the CPTPP to have a "detour" to the US market based on The company has a serious investment to add value to the product.

Deputy Minister Do Thang Hai said that, besides exploiting the CPTPP market, businesses can also study the possibility of taking advantage of the incentives, economic links and available infrastructure of other countries' CPTPP members, thereby bringing Vietnamese goods to penetrate and expand to other markets in the Americas.

"The Americas are a potential region and have economic links through free trade agreements with close ties with each other. For example, the North American Free Trade Agreement (USMCA, including the United States of America). , Canada, Mexico with nearly 500 million people, GDP reaching 21 trillion USD); South American common market (MERCOSUR, including countries: Brazil, Argentina, Uruguay, Paraguay with 265 million people, GDP reaching 2.4 trillion USD; Union bloc Pacific Alliance (AP, including Mexico, Chile, Colombia, Peru with 230 million people, GDP reaching 2.1 trillion USD) ... If making good use of these economic linkage mechanisms and trade incentives, Vietnamese businesses can find business opportunities, diversify products and export markets," said Deputy Minister Do Thang Hai.

Phan Trang - baochinhphu.vn

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