Vietnamese products seek market niche in Europe

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A Vietnamese products seek market niche in Europeweek of Vietnamese products will be held at Metro supermarket chain in Berlin, Germany in late June and at Casino Group’s Big C supermarket chain in France in September.

Dang Hoang Hai, head of the European Market Department says the week is part of a Government initiative, aiming to promote local products to huge and potential global markets.

The programme helps local businesses export products directly to EU distribution networks in anticipation of the signing of a free trade area (FTA) between Vietnam and the EU, enjoying higher profits and reducing intermediate costs.

Hai admits that Vietnamese businesses still find it difficult to penetrate EU supermarkets due to high intermediate costs, along with tough financial negotiations, and requirements for big supplies, and brand building.

The Vietnam-EU FTA is an important solution for dealing with challenges facing businesses. Under the trade pact, most Vietnamese products exported to the EU may enjoy minimal tariffs, sometimes as low zero.

Promoting exports to the EU is a priority of Vietnam in the integration process. The EU is a large, lucrative market for Vietnamese businesses as it boasts 28 member countries with about 500 million consumers and a total GDP value of US$16,000 billion or one-fourth of the world economy.

(VOV)

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