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Ministry assists exporters in targeting EU market
Vietnamese exporters participated in an online meeting organised by the Ministry of Industry and Trade on Apr. 6 to distribute information about the European export market.
During the online session, Deputy Minister of Industry and Trade Nguyen Thanh Bien, representatives from trade promotion agencies and embassy counsellors talked about the uncertainties facing export companies and offered advice that could help them boost exports to the market.
Representatives and a number of enterprises pointed out the main difficulties faced by Vietnamese exporters, including the difficulty in making contact with importers, the European Union's (EU) strict rules, food safety regulations facing domestic seafood production and the ability of Vietnamese firms to engage in legal action when necessary.
Tran Ngoc Quan, Deputy Head of the EU Market Department under MoIT, said contacting global supply chains and linking with Vietnamese enterprises already operating in the EU were two effective solutions for penetrating the market. "Through negotiations with international supply chains, enterprises can reach international standards. The department is also trying to exploit the advantages already enjoyed by the Vietnamese business community in the EU," he said.
"A stable and long-term market penetration strategy is needed. Companies should select business partners and export their strongest products," said Tran Trung Thuc, embassy counsellor in the EU-Belgium trade office, adding that knowledge of the international market, including international transportation, payment and distribution norms, was indispensable. He suggested that enterprises should innovate their products to meet the needs of import countries.
Enterprises can consult with the trade offices in each EU member state. The trade offices will support exporters with information about business opportunities and recommend reputable law firms in the case of disputes.
Further opportunities for Vietnamese exporters may come in the near future. Viet Nam is negotiating with the EU for a free trade agreement (FTA). Both sides are still reviewing approaches.
"Signing an FTA with the EU would create a huge advantage for enterprises. Import tariffs on some export items would be reduced to 0 per cent for both sides," said Deputy Minister Bien. "However, technical barriers are not included in the FTA. Companies should learn EU regulations before dealing in exports," Bien said.
FTA negotiations usually focus on opening the markets and dealing with barriers, but removing barriers is difficult. "The Government will continue to assist enterprises in any disputes that arise and support them with expansion plans through trade promotion," Bien said.
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