Can Tho City Seeks to Boost Agricultural Exports Through New Generation FTAs

As the Vietnam Academy of Social Sciences organized a seminar on August 22, experts exchanged insights on the impact of new generation free trade agreements (FTAs) on the sustainable export of key agricultural products of Can Tho City. By 2025, Vietnam has implemented about 15 FTAs, creating a free trade connection network with more than 60 global economies. The three new generation FTAs have a significant influence on the agricultural sector: the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Vietnam-EU Free Trade Agreement (EVFTA), and the Regional Comprehensive Economic Partnership (RCEP). These agreements cover not only tariff reduction but also commitments on non-commercial issues such as hygiene, technical barriers, intellectual property, labor, and environment.

Key Takeaways:

• Can Tho City's agricultural export is limited due to the small and fragmented production scale and the lack of sustainable links between businesses and farmers.
• The city has opportunities to attract investment in deep processing, high technology, and to raise brand levels through geographical indications under the new generation FTAs.
• The city's agricultural industry must compete with products from foreign countries and FTA member countries.
• To take advantage of the opportunities from new generation FTAs, Can Tho City should focus on reorganizing production, restructuring the agriculture sector in depth, and investing in science and technology, deep processing, and logistics infrastructure to improve added value and meet international standards.
• Experts recommend building a brand for Can Tho's agricultural products associated with quality to conquer fastidious markets and ensure sustainable development.
• According to TS. Pham Sy An, new generation FTAs are creating a comprehensive screening and shaping of the agricultural sector of Can Tho, posing a double-edged sword of both opportunity and pressure.

Statistics:

• Vietnam has participated and implemented about 15 Free Trade Agreements (FTAs) by 2025.
• 3 new generation FTAs have a significant influence on the agricultural sector: CPTPP, EVFTA, and RCEP.
• The city's agricultural products account for nearly 70% of the export value (mainly aquatic products and rice), with an expected export value of about $5.4 billion USD in 2025.
• Can Tho City has many large and dynamic enterprises in the field of export processing.

Sources:

• Vietnam Academy of Social Sciences.
• TS. Pham Sy An (Vietnam Economic Institute and World).
• Vietnam Economic Institute.
• World.