EuroCham, represented by key members of the Nutrition and Food Group (NFG), met with Mr. Laurent Lourdais, Deputy Head of Trade Section at the EU Delegation to Vietnam, to discuss critical regulatory developments affecting Vietnam’s nutrition and infant formula industry. The dialogue focused on aligning Vietnam’s regulatory environment with the principles of the EU-Vietnam Free Trade Agreement (EVFTA) to foster sustainable growth and support market access for European companies.
Advances Under EVFTA
The EVFTA has significantly reduced tariffs on nutrition products such as milk, creating a favourable environment for EU exporters. The meeting highlighted the potential of this agreement to drive further growth in Vietnam’s nutrition sector while promoting high-quality, sustainable products for Vietnamese consumers.
Regulatory Updates
The meeting reviewed several key regulations that are currently being amended or have recently been updated, including:
- Law on Food Safety: Addressing safety standards to ensure consumer protection and align with international practices.
- Price Law and Circular on Products under Price Control: Examining implications for the pricing and affordability of nutrition products.
- Extended Producer Responsibility (EPR) Law: Exploring sustainable practices and compliance requirements for EU businesses operating in Vietnam.
- Law on Advertising: Reviewing updates to advertising standards to promote responsible marketing within the sector.
- Codex Regulations: Discussing alignment with international Codex standards to enhance Vietnam’s competitiveness.
Commitment to Collaboration
The discussion highlighted the shared commitment of EuroCham, NFG, and the EU Delegation to fostering a regulatory environment that supports sustainable development while benefiting businesses and consumers. By aligning with EVFTA principles, stakeholders aim to ensure the growth of Vietnam’s nutrition industry and its integration into global markets.
EuroCham remains dedicated to working closely with Vietnamese authorities and industry partners to navigate these regulatory changes effectively and continue driving innovation and sustainability in the nutrition sector.
