Hoa Phat Steel Sheet enjoying export advantages from FTAs

Bilateral and multilateral economic cooperation agreements Vietnam has signed have enabled the Hoa Phat Group’s Hoa Phat Steel Sheet Co. Ltd to penetrate into many new markets and promote exports.

hoa phat steel sheet enjoying export advantages from ftas hinh 0
Hoa Phat steel sheet has been sold in many markets (Photo courtesy of Hoa Phat)

The EU-Vietnam Free Trade Agreement, the ASEAN-China Free Trade Agreement, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have all brought about advantages to the company in terms of tariffs in the EU, ASEAN, China, and Asia-Pacific markets such as Australia, Brunei, Canada, Chile, the US, Japan, Malaysia, Mexico, and New Zealand.

It recently signed a number of contracts to export products to markets in Asia, Europe, and Mexico.

A batch of 10,000 tonnes of steel sheet has been shipped to Thailand, which is scheduled to arrive in the country in late August.

Hoa Phat’s Dung Quat factory has succeeded in producing hot rolled coil using Italian production technology, enabling it to become independent in terms of materials and better manage product quality and ensure origin.

The modern production chain has also helped Hoa Phat Steel Sheet meet the strict requirements of fastidious markets.

After two years in Vietnam, Hoa Phat Steel Sheet has staked out a position in the local market, with sales in the first half of 2020 rising 200% year-on-year.

Its products are now sold in the US, Mexico, the EU, Australia, Malaysia, Indonesia, Thailand, Cambodia, and elsewhere

VNA