Local firms advised to be cautious when exporting to Spain
Workers of Ho Guom garment company in Hung Yen province. (Photo: VNA)
The Vietnam Trade Office in Spain has warned domestic enterprises to be cautious when signing contracts with Spanish businesses to avoid risks.
Previously, the Vietnam Trade Office in Spain received information from several domestic cashew and pepper exporting businesses about delays in payment of goods from ISASA Export Company in Malaga, Spain.
The representative is Mr. Manuel Gil or Ms. Anniz; headquarters located at Calle Riogordo, Nave No.4, Estrella, 29006 Malaga, Spain; Email: info@isasaexport.com; isasa@isasaexport.com and website address https://isasaexport.com/en/home/.
ISASA Export said the Vietnamese enterprise's goods did not meet quality standards at the port of destination or that the company suffered loss due to the decline in local market prices, so it did not comply with the purchase contract. Specifically, the company was late in paying for the goods, causing difficulties, time loss, and storage costs for domestic businesses, and many businesses even had to take back the goods.
To avoid risks in exporting, the Vietnam Trade Office in Spain warned domestic businesses to be careful when signing sale contracts with the ISASA Export Company. At the same time, it suggested domestic businesses increase coordination with the Trade Office in Spain in verifying local businesses before actually signing sales contracts.
The Vietnam Trade Office in Spain said that Spain is currently a large consumer market for all of Vietnam's exported consumer goods industries because of its large population of over 47 million people and quite high average income (about 36,700 USD/year). Furthermore, this is also a potential niche market for direct domestic consumption of Vietnam's agricultural, aquatic products and tropical fruits and vegetables, especially off-season products and raw products that are suitable inputs for the highly developed export food processing industry in Spain.
Spain attracts an average of over 80 million international visitors annually with Europe's leading tourism service industry, resort facilities and cuisine. Therefore, this is a market opportunity for tourism related industries (including handbags, suitcases, wallets, hats, umbrellas; handicraft products, rattan, bamboo, rush, carpets), textiles, footwear, wood and wood products, food ingredients, coffee and spice products of Vietnam.
To promote Vietnamese goods in the Spanish market, the Vietnam Trade Office in Spain suggested Vietnamese businesses increasingly take advantage of incentives from the EU-Vietnam Free Trade Agreement (EVFTA).
Vietnamese businesses need to proactively research consumption trends and market requirements, and stay updated on new regulations and policies of the host country to proactively plan production, business and export, the office noted./.
Related News
Latest News
HCM City seeks to smooth cross-border e-commerce
14:39 | 28/10/2024 Import-Export
Vietnam remains Singapore's 5th largest aquatic product supplier
14:35 | 28/10/2024 Import-Export
Vietnam's packaging market: Pressure from the greening trend
10:52 | 28/10/2024 Import-Export
Conference discusses ways to strengthen linkages, enhance rice value chain
16:52 | 27/10/2024 Import-Export
More News
Vietnam introduces high-quality products at int’l food fair in Australia
16:50 | 27/10/2024 Import-Export
Fruit and vegetable exports expects to hit US$ 6 billion
11:34 | 27/10/2024 Import-Export
Ensuring the quality of exported pangasius requires attention to breeding stock
11:32 | 27/10/2024 Import-Export
Foreign e-commerce platforms expand market in Vietnam
17:54 | 26/10/2024 Import-Export
By the end of September, import and export rise by more than US$81 billion
11:25 | 26/10/2024 Import-Export
Trade in goods of FDI enterprises account for about 68% of the country's import-export turnover
11:24 | 26/10/2024 Import-Export
Vietnam Report announces top 500 most profitable enterprises
15:45 | 25/10/2024 Import-Export
Fruit and vegetable exports soar, nearing US$6 billion
14:19 | 25/10/2024 Import-Export
An export item to China accounts for more than 90%
14:17 | 25/10/2024 Import-Export
Your care
HCM City seeks to smooth cross-border e-commerce
14:39 | 28/10/2024 Import-Export
Vietnam remains Singapore's 5th largest aquatic product supplier
14:35 | 28/10/2024 Import-Export
Vietnam's packaging market: Pressure from the greening trend
10:52 | 28/10/2024 Import-Export
Conference discusses ways to strengthen linkages, enhance rice value chain
16:52 | 27/10/2024 Import-Export
Vietnam introduces high-quality products at int’l food fair in Australia
16:50 | 27/10/2024 Import-Export