Illustrative image (Source: VNA) Tran Thi Trang, head of the Training Office of the HCM City Centerfor Trade Promotion and Investment (ITPC) said that Europe is one of thelargest trade partners of Vietnam, while Vietnam is the second biggest tradepartner of Europe in Southeast Asia.
Despite impacts from the COVID-19 pandemic, trade exchange between the twosides has still been maintained, especially since the EU-Vietnam Free TradeAgreement (EVFTA) took effect, import-export activities have been on the rise andforecast to continue to grow in the future, she said.
Meanwhile, Zachaier, director for supply chain at Source of Asia (SOA), saidthat Europe is a potential market that is the target of many countries. Vietnamis the one of the important trade partners of Europe with outstandingadvantages thanks to the EVFTA. By the end of 2020, four months after thedeal took effect, Vietnam's exports to the EU saw positive signs despiteimpacts from COVID-19.
Vietnam's exports to Europe reached 42 billion USD, he noted, addingthat the figure has accounted for only 2 percent of the total import value ofthe EU, showing that there is large room for Vietnamese goods to penetrate into the market.
He said that European consumers are paying greater attention to sustainability,including the origin trace, social responsibility and environmental protection.
In that context, Vietnamese exporters should assess thesustainability of their products and the regulations in the market, thus designingstrategies to adjust the supply chain to suit international standards and rules, he suggested.
Huynh Thanh Trung, Director of LeanWares Company, said thatVietnamese enterprises have seen limitations in high added value stages such asdesigning, development research and marketing.
He said that Vietnamese businesses should focus on building standardisedfactories, while controlling the supply chain in an effective manner to meetthe demands of the European market.
Do Van Huy, Manager of the Shire Oak International project inVietnam, said that European consumers care a lot about the environment and climatechange, and prioritise products produced with green energy.
Dinh Thi Tuyet Nhung, SOA’s international market development team leader, heldthat the similarity of successful enterprises such as Vinamilk, Viettel andKova is focusing on their product quality right from the stage of developingthe domestic market. Once winning the home market, they started studying andapproaching foreign markets, she said./.
VNA
