Illustrative image (Source: VNA) The event drew representatives of Departments of Industry and Trade oflocalities in the central and Central Highlands regions, Vietnamese Trade Councilorsin Northern Europe, Eastern Europe and Southern Europe, as well as those from trade associations, European importers, consultingorganisations, and more than 100 exporters.
Along with providing information on promising markets in theEU, it also aimed to connect Vietnamese firms with importers andinternational distributors.
Nguyen Thao Hien, Deputy Director of the Europe-AmericaMarket Department under the Ministry of Industry and Trade, noted that the EU isVietnam's leading trading partner and the third largest export market, with averageexport growth reaching 7.5% per year, accounting for 13.6% of the country’s totalexport revenue each year.
In 2021 and the first months of 2022, two-way trade continuedto recover and grow strongly, even compared to the pre-pandemic period.
According to the General Department of Vietnam Customs, lastyear, Vietnam - EU trade revenue hit 57.01 billion USD, up 14.5% overthe same period in 2020. Of this, Vietnam’s exports reached 40.1 billion USD,an increase. 14.2%, while imports were 16.9 billion USD, up 15.3%, Hien noted.
She said that in the first 10 months of 2022, trade revenuebetween the two sides rose 14% year on year to 52.5 billion USD, with Vietnam’sexports reaching 39.7 billion USD, up 23.5%, and imports of 12.7 billion USD, adding that Vietnamese exporters have penetrated deeperinto niche markets such as those in northern, eastern and southernEurope.
Goods for export have also been diversified, including machineries,equipment, tools, spare parts, footwear, computers, electronic products andtextile materials, seafood and coffee.
Participants suggested the organisation of more tradepromotion activities and more support to businesses to further exploit theEVFTA and increase exports to the EU.
Businesses also pointed to difficulties facing them in accessingthe market./.
VNA
