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Impact of the EU–Vietnam Free Trade Agreement (EVFTA) on the Export of Vietnam’s Textile and Garment to the EU Market

In: Economic and Political Aspects of EU-Asian Relations

Author

Listed:
  • Anh Tuan Nguyen

    (Vietnam National University of Agriculture)

  • Ha Viet Thi Le

    (VNU University of Economics and Business)

Abstract

The study was carried out to evaluate the effect of the Vietnam–EU Free Trade Agreement (EVFTA) on Vietnam’s exports of textiles and garments to the EU market. The World Bank provided data for the study, which also included import tariff reduction possibilities to 0% when the Agreement takes effect. The study used a combination of qualitative research methods and quantitative analytic methods utilizing the SMART method. The analysis’s findings show that Vietnam is exporting more textiles and garments to the EU. The study’s finding shows that the EVFTA promotes Vietnam’s textile and garment industries to export their goods to the EU market, especially the 10 major export groups of textile and garment products in Vietnam which account for up to 82.39% of the total trade creation effect and 81.17% of the trade diversion effect. With up to 59.5% of the overall impact, the trade diversion effect is more substantial than the trade creation impact is 40.5%. The study suggests several policy recommendations based on the findings to encourage Vietnam’s future exports of textiles and garments to the EU.

Suggested Citation

  • Anh Tuan Nguyen & Ha Viet Thi Le, 2024. "Impact of the EU–Vietnam Free Trade Agreement (EVFTA) on the Export of Vietnam’s Textile and Garment to the EU Market," Springer Books, in: Truc Le Nguyen & An Thinh Nguyen & Ewa Ślęzak-Belowska & Marcin Salamaga (ed.), Economic and Political Aspects of EU-Asian Relations, pages 117-142, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-8945-4_8
    DOI: 10.1007/978-981-99-8945-4_8
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