European market room remains large for Vietnamese businesses

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Vietnam's export groups that have export advantages to this market are agricultural and aquatic products, processed foods, footwear, garments and textiles, and some high value-added goods such as electrical products, electronics, telephones, equipment and machinery.

However, Mr. Bui Vuong Anh, Vietnam Trade Counselor in Germany, said that because Vietnamese exports accounted for only 2% of the total import turnover of the European market, the market room remains fairly large. 

Businesses should need to understand the advantages, especially for commodities, such as agricultural and aquatic products, garments and textiles, and footwear, to quickly increase market share in this region. 

For seafood products, businesses should pay attention to warnings of the European Union (EU) on product origin. Because the EU currently has been increasing the frequency of checking seafood products exported from Vietnam.

The trade counselors said that the EU has up to 28 countries. However, exports from Vietnam are mainly concentrated in a few nations, namely Germany, the Netherlands, Italy, France and Austria. 

According to a representative of the Trade Counselor in Sweden, Vietnamese businesses can now immediately expand their market share to Northern Europe. The items with great potential are women’s garments, seafood, footwear, unroasted coffee and peeled cashew nuts./.


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