Supporting small and medium-sized enterprises to expand globally
A report from Department of Multilateral Trade Policy, Ministry of Industry and Trade said that in a period of 2021 - 2025, implementing proactive and active orientation of deep international integration, Ministry of Industry and Trade has made efforts to synchronously and comprehensively deploy solutions to effectively implement new-generation FTAs of which Vietnam is a member such as: EVFTA, UKVFTA, CPTPP and traditional FTA RCEP.
Providing more information on results of taking advantage of incentives from RCEP to promote trade between Vietnam and its partners, Ms. Pham Quynh Mai - Deputy Director of Multilateral Trade Policy Department said that since RCEP Agreement took effect in 2022, Vietnam's export turnover to RCEP member countries has had positive improvements. Data from Customs Department and General Statistics Office show that Vietnam's export turnover to RCEP participating countries in 2024 will reach 155.44 billion USD, an increase of 17.6% compared to 2021 before RCEP Agreement takes effect in 2022.
In particular, markets with the largest export turnover from Vietnam are China with 61.2 billion USD, ASEAN with 36.87 billion USD, South Korea with 25.62 billion USD and Japan with 24.6 billion USD, growing by 9.3%, 27.6%, 16.7% and 22.2% respectively compared to 2021 (before the RCEP Agreement takes effect).
Notably, in context of deep integration, Vietnam is aiming to help businesses, especially small and medium enterprises (SMEs), reach out to international markets. Ministry of Industry and Trade is currently developing the “Go Global” Program to support businesses in expanding their global operations.
One of ways to “go global” is for SMEs to take advantage of the benefits of FTAs, in which RCEP Agreement plays a prominent role. As the world’s largest free trade agreement, RCEP Agreement opens up markets to 15 economies, helping Vietnamese SMEs benefit from tariff reductions, simplified customs procedures and supply chain diversification, thereby improving competitiveness, reducing costs and expanding regional exports.
In context of Vietnam increasingly integrating with regional and international economy as well as capacity of Vietnamese enterprises is also being improved and raised, goal of reaching out to region of Vietnamese enterprises is gradually becoming more visible and is of interest to the Government.
Currently, Ministry of Industry and Trade is developing the Go Global Program for Vietnamese enterprises to reach out to international markets with the aim of soon submitting it to the Government. This has demonstrated the Government's interest in this goal of Vietnamese enterprises, including small and medium-sized enterprises (SMEs), and taking advantage of FTAs is one of the ways for Vietnamese SMEs to reach out to the international market.
RCEP, as the world's largest trade agreement, led by ASEAN, will be one of the important cooperation frameworks that Vietnamese SMEs need to pay attention to. Since Regional Comprehensive Economic Partnership (RCEP) officially took effect, Vietnamese SMEs have had many new opportunities to develop and compete on a regional scale. As the world's largest free trade agreement, RCEP is removing trade barriers in the Asian region, helping Vietnamese businesses benefit from lower tariffs, faster customs procedures and a more diverse supply chain network.
The biggest beneficiary of RCEP
When RCEP is implemented in 2022, the World Bank forecasts that Vietnam will be the country with the largest economic benefits in the bloc. This forecast is becoming a reality, as by 2025, Vietnam's GDP is expected to increase by 6.6% (the Vietnamese Government has set a higher growth target of 8%), the highest level in the ASEAN region.
RCEP agreement connects 15 economies, including 10 ASEAN countries along with Australia, China, Japan, South Korea and New Zealand, forming a trade network accounting for about 30% of GDP and total global trade turnover.
By the end of 2024, trade between Vietnam and RCEP countries will account for more than half of Vietnam's total trade turnover, thereby showing the increasingly deep integration of our country in the regional value chain.
But beyond the numbers, RCEP brings real and long-term benefits to Vietnamese businesses, especially SMEs.
First, tariff reductions help improve competitiveness.
For small businesses, high import and export tax costs have long been a major barrier to expanding into international markets. RCEP addresses this problem by eliminating or reducing tariffs on at least 92% of goods traded within the bloc, immediately or within 20 years.
Thanks to lower trade costs, Vietnamese businesses can price more competitively when exporting to foreign markets. For example, a textile and garment enterprise can export goods to Japan or South Korea at lower tariffs, saving costs and reinvesting in production.
According to the World Bank, Vietnam is forecast to have the highest export growth rate among RCEP countries in the period 2020–2035, reaching 11.4%. This strengthens Vietnam's role as a new export hub in the region and encourages SMEs to expand globally. Second, simplify customs procedures: reduce clearance times.
Cross-border trade is often hindered by complex customs procedures, causing delays and increasing costs. RCEP overcomes this by promoting the application of digital technology in customs declaration and inspection before goods arrive.
Under the agreement, member countries must ensure that express and perishable goods are cleared within 6 hours, and regular shipments are processed within 48 hours of arrival. These reforms help Vietnamese businesses shorten delivery times, reduce storage costs and improve reliability in the supply chain.
For SMEs, fast and stable delivery is a key factor in increasing their reputation and attracting international customers.
Third, diversifying the supply chain: reducing risks and costs.
Another major advantage of RCEP is its wide membership, including economies that supply important inputs to Vietnam such as China, South Korea and Japan. Previously, if SMEs imported raw materials from many different countries, the final product may not be eligible for tax incentives when exporting to ASEAN.
Now, thanks to the unified rules of origin across the bloc, businesses can import raw materials from any RCEP member country and still enjoy preferential tariffs when exporting. This helps SMEs expand their supply sources, save costs and build more flexible supply chains, an important factor in the volatile global economic context.
Fourth, from policy to action, turning RCEP benefits into real growth.
Although RCEP creates a favorable policy framework, effectively utilizing the agreement depends on the logistics and international transportation capabilities of businesses. An efficient supply chain is a decisive factor in converting advantages from trade policies into real profits.
Realizing this potential, international logistics corporations such as FedEx have expanded their operations in Vietnam. In 2025, FedEx will switch to a direct-serve model, providing faster international delivery services, modern digital tools and optimal customs support for Vietnamese businesses.
As a result, SMEs can manage import and export activities more effectively, reach global customers quickly and at lower costs.
Vietnam is currently participating in many FTAs, demonstrating a strong commitment to global economic integration. However, the RCEP Agreement stands out thanks to its huge scale and its ability to reshape the position of Vietnamese SMEs in the regional value chain.
By taking advantage of tariff incentives, improving logistics capacity and digital transformation, Vietnamese enterprises can rise from domestic scale to regional exporters. RCEP not only brings trade benefits, but is also a strategic foundation to help Vietnamese SMEs strengthen their competitiveness, expand markets and develop sustainably in the new era of globalization.

Source: Vitic/ congthuong.vn