Vietnamese firms urged to quickly adapt to EU Deforestation Regulation
The Vietnam Trade Promotion Agency under the Ministry of Industry and Trade (MoIT) noted that under the regulation on deforestation-free supply chains, issued in June 2023, the EU will not import or consume the products and goods coming from deforestation or forest degradation. Businesses must prove that their products are not from land deforested or subject to forest degradation after December 31, 2020.
A worker extracts rubber latex in the Dong Phu rubber plantation of the Vietnam Rubber Group. Rubber is among the commodities targeted by the EUDR. (Photo: VNA) |
The EUDR targets the commodities with a major impact on deforestation such as coffee, cocoa, soybean, palm oil, cattle, timber and wood products, and rubber. Among them, Vietnam has three considerably affected by this regulation, namely timber, rubber, and coffee, which enjoy over 2.5 billion USD in export revenue to the EU.
Hoang Thanh, a representative of the EU Delegation to Vietnam, noted the EUDR will be applied to large enterprises from December 31, 2024, and to small and medium ones (SMEs) from June 30, 2025. Only the products meeting both the conditions of non-deforestation and legality can enter the EU market or be exported from the EU.
Mentioning challenges from the EUDR, Dinh Sy Minh Lang, a representative of the MoIT’s European-American Market Department, said origin tracing and EUDR certification procedures may inflate export costs, posing risks to SMEs. Vietnamese goods will encounter great competition as rivals have better preparedness for EUDR compliance.
The difficulty in identifying legal farming zones will affect the results of assessing and classifying country- and production zone-based risks. The control of input materials in coffee, timber, and rubber supply chains is relatively hard due to multiple layers of traders, he pointed out.
Experts held that as the time for implementing the EUDR and many other stringent rules of the EU is approaching, enterprises should act immediately to adjust their production activities. Adherence to the EUDR will generate numerous opportunities for enterprises, including improving their competitiveness since those with sustainable supply chains and quality material sources are priorities of European partners.
Thanh went on to say that the EU will assist Southeast Asian countries, including Vietnam, in building capacity, raising awareness, and sharing information about EUDR requirements.
The Vietnam Rubber Association proposed the Ministry of Agriculture and Rural Development issue technical guidance for the target sectors so that they can make timely response plans. It also suggested State agencies devise measures for supporting businesses to adapt to the EUDR, especially in terms of positioning data and origin tracing.
Echoing the view, Assoc. Prof. Dr Nguyen Thuong Lang from the National Economics University perceived that authorities should give more detailed instructions to enterprises, open a support website, or establish groups of related companies and parties to provide updates on the EUDR and other green standards of the EU.
It is also necessary to issue detailed policies and guidance, set up a question-and-answer unit to quickly meet information demand, and conduct surveys to assess their capacity to give appropriate assistance, he added.
See also
Deputy PM meets with Vice-President of European Commission
08:59 | 22/10/2024 Vietnam and EU
Vietnam treasures cooperative ties with EU and its members: PM
09:38 | 11/10/2024 Vietnam and EU
France becomes first EU country to have comprehensive strategic partnership with Vietnam
09:07 | 08/10/2024 Vietnam and EU
Top leader’s France visit a milestone in bilateral ties
08:46 | 08/10/2024 Vietnam and EU
Vietnam, France boost cooperation in public services, administrative modernisation
09:49 | 06/10/2024 Vietnam and EU
Party official works with National Secretary of French Socialist Party for International Relations
17:53 | 05/10/2024 Vietnam and EU
See more news
Ireland wants to bolster cooperation with Vietnam: Ambassador
14:38 | 30/09/2024 Vietnam and EU
PM welcomes Danish group's expansion in Việt Nam
08:50 | 24/09/2024 Vietnam and EU
Vietnam, Italy look to boost relations to next level
09:06 | 12/09/2024 Vietnam and EU
Vietnam, Spain seek to enhance cooperation in cadre training
08:59 | 30/08/2024 Vietnam and EU
EVFTA facilitates Vietnamese businesses’ participation in global supply chains
11:07 | 28/08/2024 Vietnam and EU
Czech Republic considers Vietnam among top partners, markets: official
17:04 | 23/08/2024 Vietnam and EU
EU considers Vietnam among leading important partners in region: EC Vice President
13:05 | 31/07/2024 Vietnam and EU
EU, Việt Nam enhance ties through new strategies and initiatives
09:12 | 31/07/2024 Vietnam and EU
Italy values strategic partnership with Vietnam
14:54 | 29/07/2024 Vietnam and EU
Vietnamese Trade Counselor in Switzerland: FTA negotiations to increase investment cooperation opportunities
11:44 | 22/07/2024 Vietnam and EU
Vietnam, Finland strengthen cooperation in green transition
16:02 | 28/11/2024 Cooperation
State President hosts welcome ceremony for Cambodian King
15:53 | 28/11/2024 News and Events
Legislature passes amendments to health insurance law
15:49 | 28/11/2024 Policy
Cambodian King begins state visit to Việt Nam
15:45 | 28/11/2024 News and Events
Series of international exhibitions in industry and trade opened in Ho Chi Minh City
14:36 | 28/11/2024 Trade
Multimedia
Strengthening Vietnam-Cambodia friendship and cooperation
10:03 | 28/11/2024 Infographic
Vietnam, Bulgaria strengthen traditional friendship and multifaceted cooperation
08:56 | 26/11/2024 Infographic
Banning motorbikes - a complex issue
09:32 | 24/11/2024 Society
Vietnam - Malaysia Strategic Partnership
10:54 | 21/11/2024 Infographic
Vietnam, Dominican Republic strengthening cooperation
08:45 | 20/11/2024 Infographic
Legislature passes amendments to health insurance law
15:49 | 28/11/2024 Policy
Lawmakers discuss bill on corporate income tax
10:27 | 28/11/2024 Policy
NA approves investment policy for national target programme on cultural development
18:02 | 27/11/2024 Policy
From 2026, small businesses with revenues under VNĐ200 million will be exempt from VAT
15:01 | 27/11/2024 Policy
Cinnamon industry seeks to take advantage of trade deal to expand exports to the UK
09:20 | 28/11/2024 Industry
HCM City: Strong leap into semiconductor industry
16:44 | 27/11/2024 Industry
Nam Định to build two new industrial clusters
15:07 | 27/11/2024 Industry
Vietnam seeks Danish assistance in green energy development
11:21 | 26/11/2024 Energy
Bulgarian President invites VinFast to invest in electric vehicle production
16:50 | 27/11/2024 Investment
Japanese retailer Aeon to break ground on 4th shopping mall in Northern Vietnam
15:54 | 25/11/2024 Investment
Thai packaging giant takes 30-year lease for largest ready-built factory in Tay Ninh
16:58 | 22/11/2024 Investment
Workshop seeks ways to attract Japan’s green investment to Vietnam
09:43 | 20/11/2024 Investment
Bac Ninh Province meets business needs for year-end loans
17:02 | 26/11/2024 Finance-Banking
Promoting credit for key agricultural sectors in Mekong Delta
11:11 | 25/11/2024 Finance-Banking
HDBank wins three awards at Vietnam Listed Company Awards 2024
10:53 | 21/11/2024 Finance-Banking
VIB, Flywire partner to streamline cross-border payments for students from Vietnam
16:46 | 18/11/2024 Finance-Banking
Strengthening cooperation on environment and climate adaptation
10:01 | 28/11/2024 Environment
Deforestation, forest land encroachment increase in Đắk Lắk Province
14:57 | 27/11/2024 Environment
Businesses support Vietnam’s net zero target
16:18 | 25/11/2024 Environment
Prolonged rainfall and landslides disrupt life in central region
15:43 | 25/11/2024 Environment
Global experts delve into earth, environmental sciences at int’l Vietnam confab
09:59 | 27/11/2024 Science - Technology
TECHFEST Vietnam 2024 crowns winners for innovation in healthcare and sustainability
17:06 | 26/11/2024 Science - Technology
MoU signed to foster Vietnam-Canada cooperation in science, technology
17:04 | 25/11/2024 Science - Technology
First Vietnamese scientist named at UK’s TechWomen 100 Awards
17:00 | 25/11/2024 Science - Technology
Vietnamese, Chinese border localities boost education cooperation
10:25 | 27/11/2024 Society
HCM City’s first metro line set to commence operations next month
09:04 | 27/11/2024 Society
Promoting green consumption
17:14 | 26/11/2024 Society
VND320-billion stopover to be built on North-South Expressway’s Quy Nhon - Chi Thanh section
17:00 | 26/11/2024 Society
Phú Xuyên a land of hundreds of timeless crafts
10:12 | 27/11/2024 Vietnamese Brands
Dong Thap diversifies lotus products
09:34 | 26/11/2024 Vietnamese Brands
Top 10 reputable pharmaceutical, medical supply companies in 2024 announced
09:17 | 26/11/2024 Vietnamese Brands
The essence of Chuon Ngo Mother-of-Pearl Inlay Village
16:42 | 25/11/2024 Vietnamese Brands
Vietnamese students promote cultural heritage in Australia
10:05 | 27/11/2024 Culture
Young boy takes top prize at writing contest
09:49 | 26/11/2024 Culture
Hà Nội Culinary Culture Festival 2024 to take place this month
09:45 | 26/11/2024 Culture
Long An's 2nd Culture, Sports, Tourism Week to kick off in late November
16:49 | 25/11/2024 Culture
Việt Nam earns sixth consecutive 'World's Leading Heritage Destination' title at WTA
10:22 | 28/11/2024 Tourism
Community tourism transforms livelihoods in remote areas
09:55 | 27/11/2024 Tourism
Vietnam’s stunning Golden Bridge, Ba Den Mount on British publication
09:49 | 27/11/2024 Tourism
India to promote Ninh Binh’s tourism potential
09:36 | 27/11/2024 Tourism