MR. ALEXANDER OLSEN – COMMERCIAL DIRECTOR OF ITL CORPORATION

- What is your general view about EVFTA? What are the challenges and opportunities of Logistics players from your perspective?
 
I believe that the EVFTA is an important step stone for wider trade developments between EU and Vietnam. Vietnam is the first Asian developing country to sign a free trade agreement with EU. This confirms the importance of Vietnam’s position within trade.


 
I believe that EVFTA will bring mutual benefits and opportunities for both Vietnamese and European enterprises. The short term benefits, I believe, will be increased export from Vietnam to EU due to EU eliminating estimated 40% of the tariff lines and 80% over the next 5 – 10 years. Long term I think we will see a big increase of EU products import to Vietnam
 
The challenge with EVFTA is that Vietnam has limitation on volumes they can handle. Vietnam has already seen big volume increase because of the US-China trade war which has already created constraints in labor, rising land costs and infrastructure challenges.
 
- How you forecast the EVFTA will impact the Logistics Market of Vietnam ?
 
According to the Ministry of Planning and Investment, the EVFTA will help Vietnamese exports to the EU to increase by 20% in 2020 and up 40% by 2025. EU exports to Vietnam are also expected to increase but not to the same extend and we forecast an estimated increase of 10% in 2020.
 
- What is the role of ITL in supporting for both local enterprises and EU enterprises after EVFTA?

As one of the leading Logistics companies in Vietnam, ITL will support the local enterprises by giving them access to our global network of top Freight forwarders, provide them integrated and innovative transportation, aviation and e-commerce service. 
 
With strength of understanding the local culture and strength of the innovative technology platform, ITL will support the EU enterprises and their freight forwarders by providing them local knowledge, giving them access to our competitive rates, providing Integrated Logistics services that meet all requirements and ensure excellent logistics quality verified by thousands of our counterparts and actively developing mutual business opportunities.

 

- ITL Corporation -