Local firms urged to grasp new consumption trends while exporting to EU
VOV.VN - With consumption trends in the EU market changing due to the impact of the COVID-19 pandemic, domestic businesses have been advised to follow new trends and meet stringent requirements in an effort to boost exports to the demanding market.
According to industry experts, consumers in the EU have become increasingly interested in sustainable factors, such as origin traceability, social responsibility, environmental protection, and clean energy use in each product.
The EU now represents one of the country’s largest trading partners, with total Vietnamese export turnover of goods to this market reaching US$12.55 billion during the opening four months of the year, a rise of 18.1% compared to the same period from last year.
Several items, including peppers, rice, rubber, tea, and coffee have witnessed high export growth in comparison to last year’s corresponding period.
These achievements can largely be attributed to the fact that Vietnamese businesses have moved to swiftly take advantage of opportunities brought about by the implementation of the EU-Vietnam Free Trade Agreement (EVFTA).
Zachaier, director for supply chain at Source of Asia (SOA), one of the leading companies which provides support for the country and the Asia-Pacific region in general, said that EU consumer trends are changing rapidly. This is largely due to customers prioritising items which are produced in an environmentally-friendly manner and use green energy.
As a means of winning the trust of EU customers, Cao Thi Phi Van, deputy director of Ho Chi Minh City Investment and Trade Promotion Center, suggested that Vietnamese firms should work out appropriate regulations aimed at ensuring the harmonisation of economic, social, and environmental goals.
Phung Thi Lan Phuong, head of the FTA Department under the Center for WTO and Integration, said local enterprises have been urged to gain knowledge of the EVFTA’s commitments and its impacts on the activities of businesses to devise adequate strategies for seizing the opportunities brought by the trade pact.
