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The Impact of the Vietnam-EU Free Trade Agreement (EVFTA) on Vietnam’s Textile and Garment Exports

In: Economic and Political Aspects of EU-Asian Relations

Author

Listed:
  • Ngoc Huong Quynh Pham

    (VNU University of Economics and Business, Vietnam National University)

  • Thu Cuc Ly

    (Faculty of Economics, Hanoi Industrial Textile Garment University)

  • Van Phuong Nguyen

    (VNU University of Economics and Business, Vietnam National University)

Abstract

This article analyzes the impact of the Vietnam-EU Free Trade Agreement (EVFTA) on Vietnam’s textile and garment exports to the European Union market after three years of implementation. The results indicate that despite being affected by global economic and political uncertainties as well as the COVID-19 pandemic. The EVFTA continues to have positive effects on Vietnam’s textile and garment export turnover, employment opportunities, competitive advantages, and attraction of investment in the textile and garment industry. However, Vietnam also faces numerous challenges, including compliance with product origin regulations, technical barriers, epidemiological hygiene measures, trade defense measures, and competitive pressure from other countries. Therefore, this article proposes two groups of policy solutions from the Government to seize opportunities and address difficulties and challenges, further boosting Vietnam’s textile and garment exports to the European Union market.

Suggested Citation

  • Ngoc Huong Quynh Pham & Thu Cuc Ly & Van Phuong Nguyen, 2024. "The Impact of the Vietnam-EU Free Trade Agreement (EVFTA) on Vietnam’s Textile and Garment Exports," Springer Books, in: Truc Le Nguyen & An Thinh Nguyen & Ewa Ślęzak-Belowska & Marcin Salamaga (ed.), Economic and Political Aspects of EU-Asian Relations, pages 209-224, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-8945-4_13
    DOI: 10.1007/978-981-99-8945-4_13
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