European F&B companies come knocking
Vietnam is the first leg of the delegation’s Southeast Asia tour that also takes in Singapore and Indonesia. The visiting businesses are scheduled to attend seminars and business forums in Hanoi and HCMC from November 2 to 4.
This visit comes at an opportune time since the European Union (EU) and Vietnam have concluded negotiations for a free trade agreement (FTA) and expect to sign it soon.
The delegation on November 3 introduced a wide range of farm and F&B products such as fresh fruits and vegetables, meat, poultry, processed food, milk and other dairy products, and wine and spirits. In addition, they discussed a range of topics, including food safety, investment, distribution, licensing of F&B products and business opportunities. They also visited retail outlets run by local and foreign firms to gain first-hand insights into the local market.
In HCMC, Hogan and his encourage will be attending a seminar on quality food concepts such as Geographical Indications (GIs) and business opportunities in Vietnam on November 4. A business forum is expected to provide the delegation with information about market access, local laws and regulations, and Vietnamese consumer trends.
Side meetings will also take place between the European firms and their potential Vietnamese partners including importers, distributors and retailers.
In 2015, EU-Vietnam trade in goods total over 38.4 billion euros, with 29.9 billion euros in imports from Vietnam into the EU, and 8.4 billion euros in exports from the EU to Vietnam.
Vietnam’s key export items to the EU include phones, electronics, footwear, textiles and clothing, coffee, rice, seafood and furniture. The EU’s exports to Vietnam include high-tech goods including machinery and equipment, aircraft, vehicles, and pharmaceutical products.
At present, Vietnam enjoys EU trade preferences through the Generalized System of Preferences (GSP).
