On the one hand, firms may encounter challenges in implementing measures to meet these new requirements. These implications can be viewed as both positive and negative. Alongside the forthcoming global minimum tax and carbon border adjustment mechanisms, the EU Deforestation-free regulations also have implications for Vietnamese exporters. This is another in a series of laws passed in crucial export markets that hold the potential to impact Vietnam’s primary exports. The newly passed regulations dictate that companies exporting goods to the EU must provide a due diligence statement and verifiable assurances affirming that their products have not originated from deforested land after December 31, 2020. On April 19, the European Parliament passed a historic law aimed at preventing deforestation and degradation. However, the implications can be viewed from both positive and negative perspectives. The implementation of new EU regulations aimed at combating deforestation could have a significant impact on Vietnam’s agricultural exports to Europe.
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