Vietnamese firms enjoy advantages to boost export to EU

Vietnam's export of agro-forestry and fishery products as well as industrial goods to the European Union (EU) has enjoyed many advantages this year, according to the Ministry of Industry and Trade.

According to the Trade Representative Offices of Vietnam in Belgium and the European Union, Vietnamese exporters are eligible for preferential tariffs when exporting agro-forestry and fishery products to these markets. Accordingly, many Vietnamese goods have competitive advantage over those of other countries in the region such as rice, shrimp, cashew nuts, fruits and vegetables.

In addition, there is a trend of many Overseas Vietnamese businesses in Europe importing goods directly from Vietnam and distributing them across Europe, creating a new ecosystem that connects Vietnamese export businesses for distribution to Asian store systems and Asian restaurant chains across the EU, and has begun to join distribution to European supermarkets.

Also, European consumers are becoming more and more interested in Asian products. The implementation of the EU-Vietnam Free Trade Agreement is a chance to enhance the competitiveness of Vietnamese products compared to similar goods from other countries in Asia, particularly in terms of price.

Exports of Vietnamese agro-forestry and fishery products and industrial products to the EU in the first seven months of this year increased 10% compared to the same period of 2023.

Key export products include coffee, fruits and vegetable, wood and wood products, furniture, seafood, plastic and plastic products, garment and textile, footwear and steel.