Vietnam boasts opportunities to expand exports to Sweden

Wednesday, 2020-03-18 16:56:40
 Font Size:     |        Print

Vietnam will have great opportunities to export its products to Sweden when the EVFTA takes effect. (Photo: VNA)
 Font Size:     |  

NDO/VNA – It is forecast that Vietnam will have great opportunities to export more types of products to Sweden when the European Union-Vietnam Free Trade Agreement (EVFTA) takes effect.

Analysing 25 groups of products that Sweden imported the most in the past five years shows there is great potential for Vietnam to ship textiles, footwear, farm produce and food, handicrafts, and chemicals to the Swedish market.

However, the Vietnamese Trade Office in Sweden said the export turnover and market share of these items are still quite modest.

Market surveys said that Swedish people spend a large amount of money on textile products. They also have great demand for agricultural products such as rice, tea, coffee, cocoa, fruits and vegetables.

The office said Vietnamese exporters need to meet regulations on quality and packaging standards required by Swedish distributors if they want to sell their products in the country’s supermarkets.

In 2019, two-way trade between Vietnam and Sweden hit US$1.56 billion, with Vietnam’s export valued at US$1.2 billion, up 2.4% year-on-year.

Vietnam is ranked 24th among the biggest exporters to Sweden.