Hanoi (VNA) – Vietnam's exports will continue to enjoy a strong competitive advantage in the Dutch market due to tariff reductions under the EU-Vietnam Free Trade Agreement (EVFTA), according to the Vietnam Trade Office in the Netherlands.
Trade Counsellor Vo Thi Ngoc Diep noted that the Netherlands is currently Vietnam’s largest European investor and second-largest export market. Conversely, Vietnam is one of the Netherlands' top Asian trading partners and among its 20 largest goods suppliers.
As the logistics hub of Europe, the Netherlands plays a crucial role as an entry point for Vietnamese exports into the EU market. The country is particularly well known as an essential transit point for products like fruits and vegetables.
Among the industries benefiting the most from the EVFTA, Vietnam’s agricultural sector stands out. Major Vietnamese farm produce exports to the Netherlands and the broader EU – such as seafood, rice, fruits, and vegetables – have already been enjoying preferential tariffs since the agreement took effect.
Vietnam’s exports of these products to the Netherlands experienced strong growth between 2020 and 2022, with a particularly impressive surge in 2022. Coffee exports soared by 170%, while fruits and vegetables increased by 48%, rice by 28%, seafood by 18%, and pepper by 10%.
Despite this positive trend, the Netherlands and the EU remain highly demanding markets with strict regulations and standards across various industries. Vietnamese businesses must comply with these requirements to secure a foothold in this competitive environment. Adhering to these regulations is already a challenge, particularly for agricultural and food products, but maintaining a stable presence in the long term proves even more difficult. Compliance with the EU's safety, sustainability, and environmental standards is increasingly critical. Additionally, businesses should focus on packaging and labelling that aligns with Dutch consumer preferences, including clear usage instructions for products that may be unfamiliar to local buyers.
According to the trade office, bilateral trade between Vietnam and the Netherlands reached nearly 13.8 billion USD in 2024, marking an annual increase of 26.3%. Vietnam’s exports to and imports from the European nation surged to nearly 13 billion USD and 784 million USD, up 26.9% and 17.6% year-on-year, respectively.
This marks the highest trade growth in five years, solidifying the Netherlands as Vietnam’s largest European trading partner to date. With 2024’s upward trajectory, bilateral trade is expected to continue its impressive expansion this year./.
