25/09/2014 09:02 GMT+7 Email Print Like 0

Vietnamese businesses discuss export opportunities to EU, US

Hanoi, September 25 (VNA) – Vietnamese businesses have the chance to get an insight into the European Union and the United States, helping boost exports the two markets.

A workshop was held in Hanoi on September 24 to discuss opportunities and new challenges in the EU market to boost the exports of Vietnam’s agricultural products by the Trade Promotion Department under the Ministry of Industry and Trade.

If the EU-Vietnam Free Trade Agreement (EVFTA) is signed, at least 90 percent of Vietnamese goods will be exempted from tariffs. Vietnam’s exports to the EU will be expanded by 30-40 percent, said a representative from Eurocham.

The EU is among Vietnam’s leading importers with two-way trade volume reaching 34 billion USD in 2013. Vietnam accounted for two-thirds of the value.

The market is considered a promising and traditional region with stable purchasing power thanks to high per capita income, said Ta Hoang Linh, Deputy head of the Trade Promotion Department.

To boost exports to the EU, Vietnamese businesses were suggested developing trademarks and investing in the development of processing plant system, helping improving Vietnamese agricultural products’ value.

Businesses need to seize every opportunity to improve their competitiveness and obey regulations on standards, technical requirements to penetrate the market, while calling for foreign investment in planting, processing, preserving and transporting agricultural products.

Meanwhile in Ho Chi Minh City on the same day, Vietnamese exporters to the US were provided with information relating to requirements of the US Food and Drug Administration (FDA) of the US for imports.

According to Bui Hoang Yen from the Trade Promotion Department, the workshop, co-organised by the department and Registrar Corp of the US aids businesses to more understand legal regulations and international rules on production and business, thus better satisfying the demand of the US market.

David Lennarz, a former expert from the FDA, advised Vietnamese exporters to pay special attention to import regulations and relevant procedures in shipping goods to the US.

Vietnam’s export turnover to the US in 2013 hit nearly 23.9 billion USD, a year-on-year rise of 17.5 percent, said the ministry.

In the first seven months of this year, Vietnam’s exports increased 24 percent to 16 billion USD, with key export items enjoying a stable growth.
VNA/VNP