Phu Tho Evaluation of production and business enterprises related to FTAs

DNHN - On May 31, the Department of Industry and Trade – the Standing agency of the Provincial Board of International Economic Integration presided over a workshop to solicit feedback and assess production and business enterprises in fields related to Trade

During the period from 2020 to 2022, enterprises in the province of Phu Tho took advantage of opportunities and effectively exploited FTA agreements, with the average rate of export growth under FTA agreements reaching 51.02 percent. In 2022, exports under FTAs reached over 11,000,000,000 USD, a 30% increase from 2021.

The average growth rate of imports reached 56%, with materials for export processing, electronic components, cotton textile materials, fibers, and textile yarns constituting the majority of imports. Since then, the FTAs have significantly boosted the province's exports, aiding in the diversification of export markets and products.

The opinions at the workshop centered on several issues: Clarifying the import and export situation of enterprises by industry group; analyzing the advantages and characteristics of each market under the FTAs; evaluating more clearly advantageous products with export potential; synthesizing and analyzing the difficulties and problems of enterprises related to the implementation of FTAs; specifying the opportunities, challenges, and capacity to benefit of enterprises implementing the FTA Agreement; analyzing the context in the nascent market.

The objective of the workshop is to ensure that the evaluation of enterprises engaged in production and business in FTA-related fields is accurate and close to reality, in service of the Provincial People's Committee's direction and administration.

P.V