Enterprises must boost green trade for sustainability

To fully satisfy strict environmental and societal standards and regulations and maintain a firm footing in foreign markets, Vietnamese exporters need to change their mindset and pay greater attention to “green” in supply chains and international trade.

This was the view of specialists attending the recent Vietnam Export Promotion Forum 2022 with the theme “Promoting Green Exports”, co-organized by EuroCham Vietnam, the Ministry of Industry and Trade (MoIT), Swiss Government-funded projects, and related parties.

Director General of the MoIT’s Trade Promotion Agency Vu Ba Phu said sustainable consumption has become a trend globally, especially in Europe.

“Sustainable consumption was previously perceived as luxury but is now seen as a basic essential in all market segments and all markets and a requirement for imports,” he said, adding that the nature of these regulations is to ensure that imported items do not harm the local environment, people, or supply chains.

According to Mr. Bartosz Cieleszynski, First Secretary, Trade Section, of the European Union Delegation to Vietnam, the EU-Vietnam Free Trade Agreement (EUVFTA) has the potential to promote green trade and comprehensively facilitate sustainable development goals.

Trade in green technology and sustainable products has become a popular trend in developed countries, he added.

Green exports, or more precisely the export of products with low carbon footprints or environmentally-friendly products, is a promising path for countries wishing to separate economic growth from environmental degradation, he believes.

General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) Truong Dinh Hoe said green transition is an indispensable direction of the fisheries industry. As planned, the industry in Vietnam is developing towards green growth, environmental friendliness, emissions reductions, and increases in aquaculture to protect marine resources.