A view of the workshop on the ASEAN Economic Community (AEC) and the utilisation of free trade agreement (FTA) commitments for key export sectors. — VNA/VNS Photo

HÀ NỘI — ASEAN’s rapidly growing consumer market continues to present major opportunities for Vietnamese enterprises, though firms are increasingly required to meet higher technical and origin standards.

At a workshop on the ASEAN Economic Community (AEC) and the utilisation of free trade agreement (FTA) commitments for key export sectors, held in HCM City on November 14, Nguyễn Việt Chi, Deputy Director of the Department of Multilateral Trade Policy under the Ministry of Industry and Trade (MoIT), stressed that after three decades in ASEAN, the bloc remains one of Việt Nam’s top economic partners. ASEAN is currently Việt Nam’s fourth-largest export market, following the US, China, and the EU.

Customs data indicates that Việt Nam’s exports to ASEAN reached nearly US$36.9 billion in 2024, representing a 13.3 per cent increase from 2023 and accounting for over 9 per cent of the country's total export turnover. In the first nine months of 2025, exports amounted to $28.5 billion, marking a year-on-year rise of 2.8 per cent. With a population of 700 million, geographical proximity, low logistics costs, and similar consumption habits, ASEAN remains a promising destination for Vietnamese exporters. Conquering this market allows them to meet stringent requirements and expand into more demanding countries with higher standards.

Chi said the AEC seeks to create a unified market and production base, promote the free movement of goods, services, investment, and skilled labour, and enhance regional competitiveness. ASEAN has negotiated and implemented multiple FTAs that allow enterprises to diversify markets and join regional value chains. Việt Nam currently participates in eight ASEAN-related FTAs and is negotiating another with the bloc.

Amidst global trade fluctuations, Nguyễn Trường Thi, Deputy Director of the HCM City Department of Industry and Trade, said the city continues to coordinate closely with ministries and associations to support enterprises in strengthening trade-remedy capacity and complying with origin rules to avoid risks of anti-dumping, countervailing duties, and illegal transshipment. With more than 400,000 businesses, the city requires timely updates on new policies, regulations, and ongoing FTA negotiations to capitalise on incentives.

Reviewing ASEAN’s economic cooperation outcomes, Quyền Anh Ngọc, Head of the ASEAN Division under the MoIT's Department of Multilateral Trade Policy, noted that ASEAN’s GDP rose from $2.5 trillion to $3.8 trillion over 10 years of implementing the AEC Blueprint. Total trade increased from $2.3 trillion to $3.5 trillion, with intra-ASEAN trade maintaining the largest share.

ASEAN remains one of Việt Nam’s leading trade partners, with export quality and value improving, and Việt Nam continuing to attract investment from within and outside the region. However, the utilisation of tariff preferences under FTAs remains inconsistent, with traditional FTAs showing signs of declining use.

According to Vũ Xuân Hùng of the Vietnam Chamber of Commerce and Industry’s HCM City Branch, Việt Nam still prioritises the US, the EU, and China, while opportunities in ASEAN, supported by proximity, low logistics costs, and preferential tariffs, remain underused. Non-tariff measures across ASEAN continue to tighten, especially in areas such as traceability, technical standards, labelling, and trade-remedy actions, placing pressure on exporters.

Việt Nam's electronics industry must transition from assembly to component designing and manufacturing to increase value addition. In the wood sector, it is essential to ensure that timber sources are legal and to meet various market preferences while addressing the risks of origin fraud. Although agricultural products have improved market access, they face intense competition. This necessitates deeper processing, standardised packaging, Halal certification, brand development, enhanced traceability, and stronger distribution systems.

Experts affirmed that ASEAN remains a strategic market with substantial potential for Vietnamese businesses, which must strengthen integration capacity, optimise FTA benefits, and prepare for new agreements. They also highlighted the need for greater support from industry authorities and associations to help firms comply with origin rules, address trade-remedy issues, and fully seize opportunities in the ASEAN market. — VNS