Quality of products vital to stand firm in German market
It is advisable for Vietnamese businesses to create specialised and high-quality products at competitive prices and build their own trade names to make inroads in such choosy market as Germany.
Germany is the biggest trade partner of Vietnam in the European Unions, with two-way trade gaining an annual growth of 15 percent, according to Vietnamese Trade Counsellor in Germany Nguyen Thien Binh.
The bilateral trade hit US$7 billion in the first 11 months of this year, of which Vietnam ’s exports were valued at over US$4.5 billion.
If the Vietnam-EU free trade agreement is signed and most tariffs are removed, the quality of products will be the key competitive factor, Binh said. He explained that though Germany and other EU markets accept high prices, they have strict demands for the quality of products for health and environment protection.
Therefore, Vietnamese enterprises should shift to quality competition from price competition to strengthen their foothold in the European country.
In 2015, the Vietnamese Embassy and Trade Office in Germany will continue to run trade promotion programmes such as business forums, international trade fairs and workshops, promotion and advertising campaigns to popularise Vietnamese goods among German consumers.
They will also work with Vietnamese and German government and non-government offices to promote trade activities in Germany.
The bilateral trade hit US$7 billion in the first 11 months of this year, of which Vietnam ’s exports were valued at over US$4.5 billion.
If the Vietnam-EU free trade agreement is signed and most tariffs are removed, the quality of products will be the key competitive factor, Binh said. He explained that though Germany and other EU markets accept high prices, they have strict demands for the quality of products for health and environment protection.
Therefore, Vietnamese enterprises should shift to quality competition from price competition to strengthen their foothold in the European country.
In 2015, the Vietnamese Embassy and Trade Office in Germany will continue to run trade promotion programmes such as business forums, international trade fairs and workshops, promotion and advertising campaigns to popularise Vietnamese goods among German consumers.
They will also work with Vietnamese and German government and non-government offices to promote trade activities in Germany.