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| Vietnam's seafood exports to the Americas market have increased significantly since the CPTPP took effect. |
Exports to CPTPP bloc increased sharply
In 2021, Vietnam's export turnover to CPTPP member countries will reach about 45.7 billion USD, up 18.1% compared to 2020.
If we consider the markets of CPTPP member countries in the Americas (including Mexico, Peru, Chile and Canada), in 2021, Vietnam's exports to all four countries will have high growth, with a turnover of about 13.7 billion USD, an increase of about 31.2% compared to 2020. Vietnam's trade surplus with this group of countries amounted to about 10.39 billion USD.
In the first eight months of 2022, export turnover to the CPTPP bloc reached 41 billion USD, up 38.7% over the same period in 2021, nearly equal to the whole year 2021 export turnover to this region ($ 45.4 billion). . Trade surplus recorded 6 billion USD.
According to statistics of the Ministry of Industry and Trade and the General Department of Customs, in the nine months of 2022, Vietnam's export turnover to the Americas reached 99.98 billion USD, up 22% over the same period. In which, the markets with large turnover are the US, Mexico, Canada, Peru, Chile, Brazil...
The most impressive is the sharp increase in exports in some CPTPP member countries that Vietnam has not previously signed a free trade agreement (FTA).
Specifically, with Canada, in 2021, Vietnam's exports to this market are about 5.3 billion USD, an increase of about 75% compared to before the CPTPP took effect. With Mexico, exports reached 4.6 billion USD, up more than 100% compared to the time before this agreement took effect.
Vietnam's key export industries such as seafood, footwear, etc. are taking advantage of the CPTPP to effectively accelerate exports.
At the Seminar Leveraging the CPTPP to boost exports to the Americas, Ms. Le Hang, Communications Director - Vietnam Association of Seafood Exporters and Producers, said that 10 member markets in the CPTPP bloc are currently trading. accounting for over 25% of Vietnam's total seafood export turnover and most of the members have committed to bring the tariff to 0% within 3 years.
In the fourth year of implementation of the CPTPP, the market share of Vietnamese seafood in some markets in the bloc has clearly changed, especially those in Latin America. For example, before the CPTPP, Canada accounted for 2.7% of Vietnam's total seafood export value, up to this point, the figure is 3.7%.
“The CPTPP is used more by Vietnamese enterprises than the EVFTA. Because with the EVFTA block, there are barriers such as yellow cards, IUU ..., while the CPTPP is completely open to Vietnamese seafood enterprises," emphasized Ms. Hang.
Similarly, the leather and footwear industry also received a positive effect. Previously, leather and footwear exports to this block market accounted for 10% of total export turnover, but thanks to the CPTPP, it has increased to 14%, creating many positive changes.
Joining the CPTPP, the requirements on rules of origin have created a driving force to promote the development of domestic raw materials and production chains. In the past time, the supply chain of raw materials has been "invested" more in Vietnam, thanks to that, the percentage of export goods granted preferential C/O is very high.
FTA advantage won't last
Nguyen Thi Thu Trang, Director of the Center for WTO and Integration of the Vietnam Confederation of Trade and Industry (VCCI), emphasized that the CPTPP is the first high-standard new generation FTA that Vietnam has implemented with a degree of freedom. The level of member countries in the CPTPP committed to opening the goods market for each other is the highest among the previous agreements.
The CPTPP is a help to Vietnam's goods to "attack" the American market. The results of exports to four American markets in the CPTPP bloc clearly show this.
In particular, with the CPTPP, Vietnam has a great advantage to exploit for exports to the Americas compared to many Asian countries that do not have FTAs with countries in this region.
However, countries continue to negotiate FTAs with ASEAN. For example, in the near future, the Canada-ASEAN FTA will be restarted. Thus, in the future, Vietnamese goods will no longer have a unique advantage in this area. Not to mention, some countries are also planning to join the CPTPP.
“The FTA advantage is still one of Vietnam's advantages in the North American market, but it won't last too long. Therefore, Vietnamese businesses must quickly take advantage of the CPTPP in the most optimal way," noted Ms. Trang.
According to trade experts, in 2022, FTAs, including the CPTPP, will continue to open up advantages in tariff incentives, creating incentives to attract investment to increase production capacity, thereby helping businesses Exporting enterprises become more professional in the international arena.
Ms. Vo Hong Anh, Deputy Director of the European - American Market Department (Ministry of Industry and Trade), analyzed that the textile and garment and footwear groups have a 10 - 20% tariff advantage compared to direct competitors. . This is a clear advantage that businesses need to fully exploit and take advantage of to promote exports to these markets.
For example, Canada committed to eliminate tariffs to 0% after 3 years of CPTPP taking effect for the textile and garment industry. In the first nine months of 2022, Vietnam's textile and garment export turnover to Canada has grown by 50% over the same period.
With the group of seafood products, each CPTPP country offers a separate tariff commitment schedule, applicable to goods imported from the remaining member countries. In particular, Canada and Chile committed to eliminate taxes as soon as the CPTPP took effect for all Vietnam's seafood tariff lines, so Vietnamese businesses are also exploiting very well. Particularly in Canada, Vietnam is the largest exporter of shrimp and basa fish.
