Vietnamese firms should enquire into the goods distribution network andtastes of customers from the European Union (EU) to seek effective waysinto its massive market, a conference heard in Ho Chi Minh City on April25.
Trade with the bloc has seen positive growth despitethe global economic recession and the public debt crisis in someEuropean countries. Since 2012, the EU has surpassed the US to becomethe biggest importer and the second leading trade partner of Vietnam.
Last year, two-way trade hit 33.7 billion USD, up 16 percentover 2012. Of this sum, Vietnam shipped 24.3 billion USD worth of goods,posting a yearly rise of 19 percent.
Nguyen Duc Thuong,Deputy Head of the European Market Department, said that the thoroughstudy of the European tastes will help increase the presence of localbusinesses in the market, especially at a time when the two sides arenegotiating a bilateral free trade agreement (FTA).
Sharingthis view, Claudio Dordi, team leader of t he European Trade Policyand Investment Support Project (MUTRAP EU-Vietnam), highlighted the EUas a single market whose members share regulations and standards forimported goods.
Participants also underlined the advantages andchallenges for Vietnamese exporters when trading with EU partners, andraised recommendations for businesses to develop their operations in themarket.-VNA