The call was made at a conference that the Viet Nam Trade Promotion Agency held yesterday to seek ways for Vietnamese companies to optimise business advantages and expand further into the EU market.
Negotiations for the EU-Viet Nam FTA began in 2012 and are entering the final round. The agreement, which creates opportunities for Viet Nam to boost exports to a market of about 500 million consumers, is to be signed by year-end.
A representative of the European Chamber of Commerce in Viet Nam (Eurocham) said negotiated reductions in tariff barriers alone will increase Vietnamese exports to the EU by 30 to 40 per cent.
The Eurocham official said the EU followed strict sanitary, phyto-sanitary, environmental and technical standards, and that consistency in the quality and safety of Vietnamese products would lead to an increase in exports.
Martin Buckle, an expert of the Centre for the Promotion of Imports from Developing Countries under the Netherlands Ministry of Foreign Affairs, said at the conference that EU importers were keen to develop business relationships with companies that took the time and effort to invest in quality.
He pointed out that increasingly stringent standards were applied to all food products being exported into the EU, including the hazard control system (HACCP), the new food safety management system (ISO 22000) and the European Union's new pesticide residue levels.
According to the Department of Processing and Trade for Agro-Forestry-Fisheries Products and Salt Production, the EU is a large potential market for Vietnamese agricultural products.
To tap the potential, especially after the FTA is signed, Vietnamese companies must carefully study the EU's strict quality requirements for imports, as well as the tastes of each sub-market in the EU, to set up appropriate export strategies.
Vietnamese companies should also pay attention to social and environmental responsibilities, the department added.
Official figures showed that the total value of goods traded between Viet Nam and the EU reached 27.6 billion euro (US$35.48 billion) in 2013, of which 77 per cent were Vietnamese exports.
Viet Nam's exports to the EU accounted for 19 per cent of the country's total export turnover, making the EU the country's second biggest trade partner.
(seafood.vasep.com.vn) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
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