Opportunities await Vietnam’s exporters in French market: seminar

Thursday, 2022-06-16 07:30:59
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Nguyen Tuan, Deputy Director of the Trade and Investment Promotion Centre of HCM City, speaks at the seminar on June 15. (Photo: VNA)
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NDO/VNA – Vietnamese enterprises can find opportunities for exporting many commodities, from consumer goods to fishery, agricultural, and food products, to France, heard a seminar on post-pandemic chances for accessing the French market on June 15.

Nguyen Tuan, Deputy Director of the Trade and Investment Promotion Centre of Ho Chi Minh City, said France is currently the fifth largest European trading partner of Vietnam, which has continually recorded a trade surplus with this market in recent years - over 1 billion USD during 2013 - 2027 and still rising now.

Vietnam exports a wide range of commodities to France, and the EU - Vietnam Free Trade Agreement (EVFTA), which took effect in August 2020, has created even more opportunities for shipments to France - one of the largest markets in the EU.

Though the COVID-19 pandemic caused negative impacts on the global trade in 2021, bilateral trade still saw progress, he noted.

Last year, Vietnam shipped about 3.2 billion USD worth of goods to France. The figure was 1.1 billion USD in the first four months of 2022, up 10.3 percent year on year.

Meanwhile, France’s exports to Vietnam approximated 1.6 billion USD in 2021, up 5.3 percent, and stood at 450 million USD in the January - April this year, down 16 percent, according to the General Department of Vietnam Customs.

Nguyen Hai Nam, Chairman of the Vietnamese Entrepreneurs’ Association in France, pointed out that as socio-economic and population changes have affected the agricultural and food consumption trend in the European country, Vietnamese firms can find opportunities for exporting fishery, fruit, confectionery, and cereal products.

He also highlighted the prospect of a bigger market share for such key exports as garment, footwear, rice, coffee, peppercorn, and fishery products, the demand for which is growing in France.

Apart from essential goods, France also has great demand for high-end products for high-income earners and tourists. This segment can generate considerable profits for Vietnamese exporters, Nam noted, adding that organic agricultural and fishery products will also have more chances to increase their presence there.

Le Van Thanh Tra from the Source of Asia company advised businesses to review their capacity before accessing new markets like France in the post-pandemic period, connect with well-informed partners in those markets, and thoroughly learn about the business culture in France.

Some companies experienced in trading with France recommended businesses maintain cooperative relations with the French side in order to guarantee durable cooperation.