Vietnamese businesses were guided to seek niches in Northern Europe, which comprises Finland, Denmark, Norway and Sweden, at a seminar in Hanoi on November 1.
The event was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the embassies of the Northern European countries.
In his opening remarks, VCCI Vice President Doan Duy Khuong spoke highly of the cooperation between Vietnam and the four countries, with annual two-way trade reaching about US$1.3 billion.
Vietnam exports some US$500 million worth of goods to Northern Europe each year—mostly raw materials, rubber, machinery, computers, electronic products and parts, equipment, tools and garments, while importing around US$800 million from the region, he said.
Vietnam and the Northern European countries have signed agreements on cooperation on economics, science and technology, trade, trade promotion and protection and aviation transport, creating legal frameworks for collaboration between Vietnam and each nation, he noted.
However, Khuong pointed out that the trade and investment links had yet to match their potential and aspirations.
According to the official, to boost economic and trade ties between Vietnam and the countries, a range of projects have been launched in support of their businesses.
Notably, the Vietnam-EU Free Trade Agreement is expected to come into force in 2018, helping turn Northern Europe into a door through which for Vietnamese enterprises to access the EU market comprehensively.
At the same time, through Vietnam, the EU and the Northern European countries would make inroads into the ASEAN Community with new business and investment opportunities, Khuong stressed.
Katja Majbom Goodhew, Commercial Counsellor at the Danish Embassy in Vietnam, suggested Vietnamese producers and exporters carefully study the demands of Danish consumers and make information about the ingredients and materials of their products transparent.
She explained that Danish consumers had high requirements in terms of food safety and quality, environmental hygiene and even animal welfare.
Source: Nhan Dan
Key words: Vietnam, Northern Europe, eye, further, trade ties
