The report “Border Carbon Adjustment Mechanisms and Impacts on Vietnam” by the International Institute for Sustainable Development recommends that Vietnamese businesses must proactively gather information and establish networks for CBAM compliance research. By sharing and leveraging information, businesses can develop effective strategies to not only meet international market demands but also achieve sustainable long-term growth. This not only helps businesses meet global standards but also creates opportunities for them to expand and grow their markets. From a governmental perspective, Vietnam holds a certain position in negotiating with other countries, and thus, various options need to be carefully considered.
During BCA/CBAM related discussions, cooperation, or negotiations, Vietnam can request contributions and support for technical aspects related to BCA/CBAM from countries already implementing such BCAs. In addition, the government can harness feedback and insights from companies, academic institutions, and research institutes to enhance and refine its policies and strategies. This approach not only aids in negotiation processes but also ensures the development of rational, well-informed policies that promote sustainable development and align with international standards.
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