Ample room remains for Vietnam’s exports to EU

There is still a lot of room for Vietnamese goods to expand their presence in the European Union (EU) market, but accessing its retail distribution systems is extremely important, heard a seminar in Ho Chi Minh City on August 11.

Ample room remains for Vietnam’s exports to EU hinh anh 1

Illustrative image. (Photo: VNA)

There is still a lot of room for Vietnamese goods to expand their presence in the European Union (EU) market, but accessing its retail distribution systems is extremely important, heard a seminar in Ho Chi Minh City on August 11.

Speaking at the event, held to support domestic enterprises to connect with EU’s distribution systems, Nguyen Thao Hien, deputy head of the European-American Market Department under the Ministry of Industry and Trade, said the year 2022 is favourable for export and trade promotion activities with the EU partners, as both sides are recovering from the COVID-19 pandemic with great support from the EU-Vietnam Free Trade Agreement (EVFTA).

Two years since the agreement took effect, the EVFTA does not only promote bilateral trade but also provides an advantage for the business communities of both sides in the context of fluctuating markets and the impact of the pandemic, as well as regional and global geopolitical uncertainties.

According to Hien, the ability of businesses to take advantage of incentives from the agreement is also gradually improving after two years.

Statistics from the MoIT showed that the rate of enterprises using preferential certificates of origin under the EVFTA agreement reached 20.7% in the second year compared with 14.8% in the first year.

However, it should be noted that many Vietnamese products still face various difficulties in accessing the EU market because they have not fully met its requirements in terms of technical standards, traceability, environmental and sustainable development issues, she said.

Trade promotion activities have not been carried out concertedly from production, marketing and market penetration, Hien said.

Nguyen Thi Hoang Thuy, Trade Counsel of Vietnam in Sweden, said room remains for Vietnam’s exports to the EU, especially Northern Europe, as the population there, small as it is, is among the group with the highest average income in the world with an annual import demand of about 400 billion USD.

Vu Anh Son, in charge of the trade office in France, said bringing goods into foreign distribution channels requires businesses to have a long-term orientation and production plan, adding that in addition to complying with regulations and standards of the market, they must also meet the inpidual requirements of each distributor.

Khiem Nhat Thanh, General Director of T&T Food, an importer for distribution systems in France, said businesses wishing to conquer the EU market should have specific and long-term marketing plans and strategies along with securing qualified products./.
Source: VNS
en.vietnamplus.vn

Related News

Take advantage of e-commerce leverage for export

Take advantage of e-commerce leverage for export

VCN - Exporting via e-commerce is gradually becoming popular and becoming a trend that many businesses are interested in.
Wood exports started well

Wood exports started well

VCN - After a year of missing the growth target, the year of 2024 exporting wood and wood products has had a good start, but there are still many potential risks.
Expand investigation for two smuggling cases

Expand investigation for two smuggling cases

VCN – The Anti-Smuggling and Investigation Department under the General Department of Vietnam Customs has prosecuted 55 illegal imported shipments of used machinery, equipment, and technological lines.

Latest News

Vietnam earns 1.43 billion USD from rice exports in Q1

Vietnam earns 1.43 billion USD from rice exports in Q1

Vietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Localities get ready for fourth FDI boom

Localities get ready for fourth FDI boom

As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
Opportunities to develop a smart and sustainable packaging industry

Opportunities to develop a smart and sustainable packaging industry

VCN - The concept of circular economy and sustainability requirements are increasingly influencing packaging design. In particular, highly recyclable packaging is gradually becoming an important part of the packaging process in the food and beverage industry. This is also one of the key factors promoting the development of Vietnam's packaging industry.
Domestic retailers eye export-quality products

Domestic retailers eye export-quality products

Domestic retailers are increasing the distribution of export-quality products to cash in on the consumption trend towards green, environmentally friendly and safe products.

More News

Textile and garment exports recovered positively

Textile and garment exports recovered positively

VCN - Vu Duc Giang, Chairman of Vietnam Textile & Apparel Association shared with Customs News about the production and export situation of Vietnam's textile and garment industry after many difficult periods.
Launch of FDI Annual Report 2023

Launch of FDI Annual Report 2023

VCN - In 2023, industrial parks and economic zones kept attracting foreign investors with 27.7 billion USD of FDI capital investment; the number of new investment projects, adjusted investment capital and implemented FDI capital all increased compared to the previous year.
Vietnam has opportunities to attract, develop the offshoring market

Vietnam has opportunities to attract, develop the offshoring market

Vietnam is an attractive choice for businesses who are looking for outsource solutions, given its affordable workforce, highly skilled human resources and the constantly developing infrastructure of information technology and the telecommunications industry, said real estate consultancy firm Knight Frank in its report Asia-Pacific Horizon: Harnessing the Potential of Offshoring.
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors

Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors

More than 15 trillion VND (597 million USD) has been disbursed under a credit scheme to support Vietnamese agroforestry and aquatic sectors since July last year, heard participants at a recent conference to discuss measures on maintaining Vietnam's key agricultural exports.
Be proactive and flexible with production materials

Be proactive and flexible with production materials

VCN - Enterprises' production and export orders have gradually returned, leading to many recovery prospects. Therefore, the issue of raw materials for production continues to be a major concern to meet rules of origin requirements.
Cooperate to build leading and "rich in vitality" state-owned enterprises

Cooperate to build leading and "rich in vitality" state-owned enterprises

VCN - In Vietnam, the contribution ratio of state-owned enterprises (SOEs) to GDP is approximately 30% but their competitiveness is not commensurate with the resources they hold, and many SOEs operate ineffectively.
Garment & textile sector tries to keep growth momentum

Garment & textile sector tries to keep growth momentum

The Vietnamese garment and textile sector is carrying out various measures to bolster production and business activities amidst formidable challenges posed by falling demand, high inventory, and geopolitical instability in several countries, according to insiders.
Businesses capitalize on recovery momentum to explore market expansion

Businesses capitalize on recovery momentum to explore market expansion

VCN - Since the start of the year, Vietnam’s exports have welcomed positive signals as orders from several key sectors have noticeably rebounded. Enterprises are capitalizing on the market recovery to bolster their export drive.
Access to the Chinese market is increasingly convenient

Access to the Chinese market is increasingly convenient

VCN - As Vice Chairman of the High Quality Vietnamese Goods Business Association, Mr. Nguyen Lam Vien (photo) is also Chairman of the Board of Directors of Vinamit Joint Stock Company - a very successful enterprise in the Chinese market, shared with Customs News many interesting information and advice for businesses to achieve success in this potential billion-people market.
Read More

Your care

Latest Most read
Wood exports started well

Wood exports started well

After a year of missing the growth target, the year of 2024 exporting wood and wood products has had a good start, but there are still many potential risks.
Take advantage of e-commerce leverage for export

Take advantage of e-commerce leverage for export

VCN - Exporting via e-commerce is gradually becoming popular and becoming a trend that many businesses are interested in.
Vietnam earns 1.43 billion USD from rice exports in Q1

Vietnam earns 1.43 billion USD from rice exports in Q1

Vietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Localities get ready for fourth FDI boom

Localities get ready for fourth FDI boom

As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
Opportunities to develop a smart and sustainable packaging industry

Opportunities to develop a smart and sustainable packaging industry

VCN - The concept of circular economy and sustainability requirements are increasingly influencing packaging design. In particular, highly recyclable packaging is gradually becoming an important part of the packaging process in the food and beverage indus
Mobile Version