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Vietnamese companies look for ways to increase exports to UK
Vietnamese businesses should strictly comply with European technical standards and regulate export volumes to sustain and expand trade with the UK, experts said.
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| Workers process fish for export at Phu Minh Hung Seafood Co in the northern province of Quang Ninh |
Pham Tuan Huy of the European Market Department told an online forum organised yesterday by the Ministry of Industry and Trade and the Multilateral Trade Assistance Project that the standards included REACH, IUU and FLEGT.
REACH is used for chemical substances, IUU is EU rules against illegal, unreported and unregulated fishing, and the FLEGT is included in an action plan on enforcing forestry laws.
REACH and IUU were already in force while FLEGT would take effect soon, he said.
Tran Ngoc Quan, the department’s deputy director, reminded businesses of anti-dumping regimes, saying they should exercise tighter control over export volumes of items vulnerable to anti-dumping tariffs.
Any sudden increase in volumes would trigger anti-dumping investigation, he said.
Trade between the UK and Viet Nam has grown at an average 20-25 per cent in the last five years, doubling last year from a mere US$1 billion in 2005.
Vietnamese exports by October this year were worth $1.9 billion, a 44.7 per cent increase year-on-year.
The main export items were footwear, textile and garment, coffee, rubber, tea, and seafood.
Huy called for greater promotion of trade and cultural exchanges between the two countries.
Quan said: “The two countries reached a strategic partnership agreement last year, aiming to increase [trade] to $4 billion in 2013.”
Huy urged businesses to carefully investigate the market for the items they planned to export, ensure quality standards, and find good partners in the UK.
He called on the Government to support businesses, including by seeking the UK’s help in understanding relevant laws and rules, especially those related to non-tax barriers and food safety regulations.
Viet Nam was set to benefit since the UK was backing talks for a bilateral free trade agreement, and creating favourable conditions for emerging markets, including Viet Nam, he said.
UK businesses were deeply interested in the country as well, he said.
The UK had demand for Vietnamese goods while they were also looking to contract processing work to the country, he said, urging Vietnamese business to take advantage of this.
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