Viet Nam''s rice exports to Europe continued to grow in the first quarter of 2022, thanks to the Europe-Viet Nam free trade agreement (EVFTA), according to the Ministry of Industry and Trade (MoIT).
Italy is currently Việt Nam''s fourth largest trading partner in the EU behind only the Netherlands, Germany and France while Việt Nam is Italy''s largest trading partner in ASEAN with bilateral trade turnover continuously increasing over the years.
Iron and steel exports to the EU reached 713,000 tonnes in the first five months of this year, up five times year-on-year, reported the General Department of Customs.
Viet Nam''s export turnover of Vietnamese goods to the 27 EU member countries has skyrocketed after eight months of implementing EVFTA, reaching nearly US$4.8 billion.
Viet Nam’s imports from the EU were estimated to reach US$13.2 billion in January-November, representing a rise of 4.3 per cent against the same period last year.
Viet Nam needs to strengthen measures to achieve the sustainable development of seafood exports to the EU market, especially after the EVFTA comes into effect.
The EU is a potential market for Viet Nam''s shrimp industry next year as the shrimp production of this bloc has not met demand of the largest shrimp market in the world.
The EU-Viet Nam Free Trade Agreement would provide a big impetus to Viet Nam''s exports to the EU and be key to Vietnamese companies penetrating one of the largest and most lucrative markets in the world.
The Viet Nam-Bulgaria Trade Promotion and Investment Centre opened in Ha Noi on Saturday, improving conditions for Vietnamese businesses to boost investment and exports to Bulgaria as well as accessing other EU markets.