02/11/2016 09:30 GMT+7 Email Print Like 0

Vietnam, Northern Europe eye further trade ties

Hanoi, November 1 (VNA) – Vietnamese businesses were guided to seek niche in Northern Europe, which comprises Finland, Denmark, Norway and Sweden, at a seminar in Hanoi on November 1.

The event was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and embassies of the Northern European countries.

In his opening remarks, VCCI Vice President Doan Duy Khuong spoke highly of cooperation between Vietnam and the four countries with annual two-way trade reaching about 1.3 billion USD.

Vietnam exports some 500 million USD worth of goods to Northern Europe each year, mostly raw materials, rubber, machinery, computers, electronic products and parts, equipment, tools and garments, while importing around 800 million USD from the countries, he said.

Vietnam and the Northern European countries have signed agreements on cooperation in economy, science-technology, trade, trade promotion and protection, and aviation transportation, creating legal frameworks for the collaboration between Vietnam and each nation, he noted.

However, Khuong pointed out that the trade and investment links have yet to match their potential and aspirations.

According to the official, to boost economic and trade ties between Vietnam and the countries, a range of projects have been launched in support of their businesses.

Of note, the Vietnam-EU Free Trade Agreement is expected to come into force in 2018, helping turn Northern Europe into a door for Vietnamese enterprises to access the EU market comprehensively.

At the same time, through Vietnam, EU and the Northern European countries will make inroads into the ASEAN Community with new business and investment opportunities, Khuong stressed.

Katja Majbom Goodhew, Commercial Counsellor at the Danish Embassy in Vietnam, suggested Vietnamese producers and exporters carefully study demands of Danish consumers, and make information about ingredients and materials of their products transparent.

She explained that Danish consumers have high requirements of food safety and quality, environmental hygiene, and even animal welfare.
VNA/VNP