Seminar discusses opportunities to access French market

This information was unveiled at a seminar held on June 15 aimed at discussing opportunities to gain entry into the French market following the COVID-19 pandemic, which was organised by the Ho Chi Minh City’s Center for Trade and Investment Promotion and the Vietnam Business Association in France.

At the event, Nguyen Tuan, deputy director of Ho Chi Minh City’s Center for Trade and Investment Promotion, emphasised that France is the country’s fifth largest trading partner in Europe, adding that Vietnam enjoyed a trade surplus of over US$1 billion per year in the 2013 to 2017 period, with this increasing gradually over the years.

Vietnamese goods exported to France can be viewed as relatively diverse, including footwear, textile, houseware, agro-forestry-fishery products, precious gemstones, jewelry, electrical and electronic appliances, mechanical items, ceramics, rubber, coal, toys, sports and plastics products, bamboo, and rattan products.

Following the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA), the trade deal has opened up a wealth of opportunities for Vietnamese exports to France, particularly as it is one of the largest markets in the EU, Tuan said.  Although the COVID-19 pandemic exerted a negative impact on global foreign trade, there remain positive signs in trade exchanges between the two countries, he went on to say.

Statistics compiled by the General Department of Vietnam Customs highlight that throughout the four-month period export turnover to France posted a year-on-year increase of 10.3% to US$1.1 billion.

Nguyen Hai Nam, chairman of the Vietnam Business Association in France, said ongoing socio-economic changes and demographic shifts have affected the trend of consuming agricultural and food products in the Central European country, adding that Vietnamese enterprises have opportunities to export seafood, vegetables, confectionery and cereals to this market in the future.

Moving forward, import demand for essential consumer goods and household appliances in France are projected to increase.

However, experts have advised local seafood firms to strictly follow food safety standards and pay close attention to payment conditions in export contracts in an effort to avoid losses.

Furthermore, businesses have also been recommended to focus on the export of high-end consumer goods for high-income earners and tourists, particularly as this group can bring significant profits to Vietnamese exporters.

Moreover, they have been urged to shift to export organic products as French citizens are increasingly concerned about environmental and health issues.