At the event (Photo: VNA) Hanoi (VNA) – Vietnam holds great advantages to export agricultural products to European Union (EU) countries, whose soil is not suitable for the cultivation of tropical farm produce, experts said. In particular, when the EU-Vietnam Free Trade Agreement takes effect, Vietnamese products will gain a competitive edge in the market as tariff lines will fall to 0-5 percent over the next seven to 10 years. At the Vietnam-EU Trade Forum held by the Ministry of Industry and Trade’s Department of European-American Market in Hanoi on December 6, Deputy Minister Cao Quoc Hung stressed that the EU is a prosperous economic bloc, with a gross domestic product (GDP) accounting for 23 percent of the world’s economy, and an income per capita mounting to 40,890 USD. With 28 member states, the EU’s total population reaches some 516 million people with high demand for imports, including farm produce. Meanwhile, more than 10 key Vietnamese … [Read more...] about Vietnamese farm produce holds huge potential in EU market
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Bulgaria pledges best conditions for Vietnamese firms to enter EU market
Bulgaria’s Minister of Economy, Emil Karanikolov, has said that Bulgaria is willing to create the best conditions for Vietnamese businesses to expand their warehouses and network of export partners in the country, thereby facilitating their entry to the European Union (EU) market. An overview of the Vietnam-Bulgaria Business Forum - Photo: VOV Addressing the Vietnam-Bulgaria Business Forum in Hanoi on September 18, the Bulgarian official hailed Vietnam as not only a traditional trading partner but also an important partner of Bulgaria in Southeast Asia. Bulgaria is willing to support the specific initiatives of the two sides’ enterprises, as well as strengthen exchanges and cooperation between Vietnamese and Bulgarian companies, in order to improve the trade and investment ties between the two countries, he said. Karanikolov affirmed the Bulgarian side’s readiness to facilitate Vietnam’s investment in the areas of information technology, agriculture, … [Read more...] about Bulgaria pledges best conditions for Vietnamese firms to enter EU market
Farm produce needs to improve to unlock EU market
Việt Nam is one of the important suppliers of farm produce to the EU, ranking 12th among all exporting nations and meeting 2.2 per cent of the demand, above Thailand, New Zealand, Malaysia and Canada. — VNA/VNS Photo Viet Nam News HÀ NỘI — Việt Nam’s agricultural exports face a range of challenges and barriers in Europe due to new stringent food safety regulations. Trần Ngọc Quân, deputy director of the Ministry of Industry and Trade’s Department of European–American Markets, said once the European Union (EU)-Việt Nam Free Trade Agreement (EVFTA) takes effect, tariffs on Vietnamese farm produce would drop to 0-5 per cent over the next decade. Việt Nam is an important suppliers of farm produce to the EU, ranking 12th among all exporting nations and meeting 2.2 per cent of the demand, above Thailand, New Zealand, Malaysia and Canada. However, the EU has is focused on value, quality, … [Read more...] about Farm produce needs to improve to unlock EU market
Farm produce needs improved quality to unlock EU market
Harvesting durian fruits (Source: VNA) Hanoi (VNA) – Though Vietnam is strong in producing and exporting agricultural products, it is facing a range of challenges and barriers in Europe due to new stringent food safety regulations. Tran Ngoc Quan, Deputy Director of the Ministry of Industry and Trade’s Department of European–American Markets, said once the European Union (EU)-Vietnam Free Trade Agreement (EVFTA) takes effect, tariffs on Vietnamese farm produce will plunge to 0-5 percent over the next decade. Vietnam is one of the important suppliers of farm produce to the EU, ranking 12th among all exporting nations and meeting 2.2 percent of the demand, above Thailand, New Zealand, Malaysia and Canada. However, the EU has paid due attention to food value, quality, safety and hygiene and has issued stringent regulations on antibiotics, pesticides and tracing product origin. A representative from the Vietnam Trade Office in the EU said the bloc will … [Read more...] about Farm produce needs improved quality to unlock EU market
EU tops exports of Việt Nam shrimp
Viet Nam News HÀ NỘI – The European Union (EU) market was the largest export market of Vietnamese shrimp in the first quarter of this year, according to Việt Nam Association of Seafood Exporters and Producers (VASEP). In the first quarter, the export value of shrimp from Việt Nam to the EU gained a year-on-year increase of 20.2 per cent to US$742.9 million, including $302.4 million in March, up 25.8 per cent compared to March 2017. Therefore, the EU maintained its position as the largest market for Vietnamese shrimp products, accounting for 18.2 per cent of Việt Nam’s total shrimp export value in the first quarter. The association said the EU was considered as the "most dynamic" market for Vietnamese shrimp in 2017. In 2018, the shrimp export to this market has maintained an upward trend. Việt Nam has gained by exporting shrimp to the EU, because India, Việt Nam’s big competitor in the EU market, has faced … [Read more...] about EU tops exports of Việt Nam shrimp
Changes in target markets worry wooden furniture exporters
VietNamNet Bridge - Wooden furniture manufacturers have been warned that they will face more trade barriers as export markets have applied new policies to restrict imports. Wooden furniture manufacturers have been warned of new trade barriers The recently released report of the Vietnam Timber and Forest Product (Viforest) warned of big changes in all four major export markets of Vietnam, including the US, China, Japan and South Korea. Regarding the US market, the Trump Administration is pursuing a policy to reduce the trade deficit and protect domestic production. The policy has had a direct impact on China, which has the biggest trade surplus with the US. Experts also warned that the excess of Vietnam’s exports to the US over imports from the US, estimated at $32 billion a year, doubled with Chinese investment flow into the wooden furniture manufacturing may ‘attract special attention from the US management agencies’. Therefore, wooden furniture … [Read more...] about Changes in target markets worry wooden furniture exporters
Vietnamese VinFast car designs protected in EU
Two models of sedan and SUV developed by Vietnamese automaker, VinFast, will be protected in the 28 member countries of the European Union (EU). A VinFast model granted the registration certificate of design The European Union Intellectual Property Office (EUIPO) has granted a registration certificate of design for VinFast's models of sedan and SUV cars with a five-year term of protection which can be renewed four times. During the maximum protection period of up to 25 years, other automakers will not be able to produce or distribute models with identical or similar designs to the VinFast models in the EU market. Beyond Europe, the Vietnamese automaker has also filed applications for industrial design protection for its two models in a number of countries including the US, Russia, Ukraine, Thailand, Malaysia, the Philippines, Singapore, Laos, Cambodia, and Indonesia, among others. VinFast signed contracts with Italy's design firm Pininfarina and BMW in early 2018 to produce … [Read more...] about Vietnamese VinFast car designs protected in EU
Urgent measures implemented towards removal of EU yellow card
Under the warning, the European Union (EU) checks the origin of all seafood products imported from Vietnam, resulting in an extended time for entry procedures and increased costs for inspection and warehousing. If Vietnam cannot fulfil the recommendations over the illegal fishing exploitations after six months, the EU will then issue a 'red card' which could mean that Vietnamese aquatic products would be unable to enter the EU market. In order to promptly overcome these difficulties and help the fisheries sector to develop in a sustainable way, Prime Minister Nguyen Xuan Phuc issued Directive No. 45/CT-TTg in late November 2017 to devise a number of drastic tasks and solutions in response to the EU’s warning. In the beginning of this year, the PM approved a national action plan to prevent, deter and eliminate IUU fishing. Especially, he emphasised the specific tasks that are needed to be urgently implemented from now until April, so that the 'yellow card' could be withdrawn in … [Read more...] about Urgent measures implemented towards removal of EU yellow card
The Netherlands is Viet Nam’s leading importer in EU
Shoes produced for export at Dong Hung Industry Jsc., in southern Binh Duong Province. Footwear was among major export products of Viet Nam to the Netherlands. — VNA Photo The Netherlands has emerged as Viet Nam’s largest importer in the European Union (EU), with an annual export growth rate of 18-25 per cent in recent years. Last year, Viet Nam exported US$7.1 billion worth of goods to the country, far surpassing the $2.9 billion in 2013, according to the Vietnamese Trade Office in the Netherlands. Among the items recording positive export earnings in 2017 are electronics and components, telephone, footwear, textile and garments, seafood, cashew nuts, rubber, machinery and spare parts, plastic products and fruits and vegetables. The Netherlands is also the largest importer of Vietnamese cashew nuts and seafood in the bloc, with respective turnovers of more than 300 million euros ($370 million) and 542 million euros ($670 million). In 2017, Viet Nam spent $665.4 million … [Read more...] about The Netherlands is Viet Nam’s leading importer in EU
Seafood sector exports first consignments to key markets in 2018
The Hanoitimes - Vietnam’s seafood exporters on January 14 shipped first consignments worth nearly US$600,000 to traditional and large markets of the United States, Canada and England. Addressing the ceremony, Nguyen Xuan Cuong, Minister of Agriculture and Rural Development, forecast that the fishery sector will have potentials to further grow this year, which will help it create a new mark and surpass the target of US$8.5 billion set for 2018. The fishery sector expects to have potentials to further grow this year “This year we will encounter many challenges, but will also have opportunities,” Cuong said. According to Cuong, the challenges include getting a "yellow card" sticker on illegal, unreported and unregulated (IUU) fishing by the European Commission and restructuring production and exploitation in a sustainable manner. However, he said, Vietnam is in the process of implementing a new fisheries law and action programs to lift the … [Read more...] about Seafood sector exports first consignments to key markets in 2018