Việt Nam is well-positioned to become a prominent exporter in the sector thanks to its geographical proximity to large Halal markets, such as South East Asia ($230 billion in value) and South Pacific ($238 billion).
EUDR would take effect around December 2024 and January 2025. Microenterprises and small enterprises would have an additional six months to comply with the regulation''s requirements.
Besides churning out high-quality products, Vietnamese producers must meet other strict requirements of importers, including a good governance system, to enable to participate in the global supply chain, experts said.
The loose links between small and medium-sized enterprises (SMEs) with big firms and between Vietnamese and FDI firms remain a problem in FDI attraction.
An interactive video conference on “Promoting Viet Nam - US Trade in Footwear Post COVID-19” took place in Washington DC on May 27 (US time) to connect Vietnamese producers and American distributors and retailers.
Vietnamese producers must improve product quality and make the most of their advantages so that imported goods don’t take over the market, the Vietnam Chamber of Commerce and Industry said.