Vietnam’s exports to EU increase robustly

SGGP
At the Conference on Market Information and Connection with the European Distribution System (EU) held on August 11, Ms. Nguyen Thao Hien, Deputy Director of the European-American Market Department under the Ministry of Industry and Trade, said that in the first month of 2022, Vietnam's export turnover to the EU market increased drastically, estimated at US$27.9 billion, up 22 percent over the same period last year.
Currently, Vietnam's export products are available in most markets in the EU and have recorded good growth, focusing strongly on products such as textiles, footwear, coffee, seafood, vegetables and fruits, black pepper, and rice. Among these, coffee posted the strongest growth, with an increase of 75.2 percent, followed by seafood and black pepper, with 42.1 percent and 43.9 percent, respectively, over the same period last year.

According to experts, the EU-Vietnam Free Trade Agreement (EVFTA), which took effect from August 2020, has created leverage to promote two-way trade between Vietnam and the EU, significantly helping Vietnamese goods improve competitiveness and expand market share in the EU market.

On August 11, the Vietnam Chamber of Commerce and Industry - Ho Chi Minh City Branch (VCCI-HCM) coordinated with Polish departments in HCMC to organize the Vietnam - Poland Trade Exchange.

A representative of VCCI-HCM said that in 2021, the two-way trade turnover between Vietnam and Poland reached nearly $2.6 billion, up 22 percent over the same period in 2020. Export value from Vietnam to Poland exceeded $2.1 billion, up 17 percent over the same period in 2020, and Vietnam's import value from this market topped $500 million, up 49 percent over the same period.

In the first quarter of 2022, the two-way trade turnover between Vietnam and Poland reached nearly $900 million. Items that account for a large proportion in the structure of Vietnamese export products to Poland include garments, seafood, cereals, coffee, and footwear. Meanwhile, Poland has strengths in pharmaceuticals, dairy products, animal feed, and cosmetics.

By Minh Xuan, Minh Hai – Translated by Bao Nghi

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