In a recent event organized by the Vietnamese Trade Promotion Agency (VIETRADE), a panel discussion was held on July 12, aiming to foster connections between suppliers in southern Vietnam and distributors, exporting businesses, and trade promotion organizations. The series, which spanned from the north to the south, sought to promote local products and enhance Vietnam’s export capabilities in the global market. The participation of EuroCham’s Food, Agri, and Aqua Business Sector Committee (FAABS) Vice Chairman, Paul-Antoine Croizé, brought invaluable insights and key points for discussion.
- Leveraging the EVFTA and Strengthening the Food, Agri and Aqua Business Sector:
During the panel discussion, Mr. Paul-Antoine Croizé emphasized the importance of utilizing the implementation of the EU-Vietnam Free Trade Agreement (EVFTA) as a solid foundation for the food, agriculture, and aquaculture sectors. Key recommendations included increased collaboration between Vietnamese and European enterprises, product improvement, regulatory clarity for both locally consumed and exported products, traceability, and continued investment.
- Enhancing Price Competition:
The panel discussion delved into strategies and approaches to ensure that Vietnamese products are priced competitively in both domestic and international markets. Mr. Croizé emphasized the importance of EVFTA as Vietnamese agricultural products would continuously become more competitively priced over time, thanks to tariff reduction. However, in order to further improve price competition, Mr. Paul-Antoine Croizé recommended minimizing cross-contamination in food exports, such as noodles and fruit juices, to meet European Union standards. He also highlighted the need to facilitate the importation of cost-effective solutions and remove unnecessary costly regulations. These measures are necessary for Vietnam’s agricultural industry to achieve higher competitiveness, meet international standards, and contribute to sustainable growth.
- Boosting Visibility and Value:
Another key point raised during the event was the importance of enhancing visibility and value for Vietnamese products. To thrive in the European retail distribution system, Mr. Paul-Antoine Croizé emphasized the pivotal importance of winning over consumers. Currently, 80% of Vietnamese products imported into the EU lack branding and clear origin labels, which hampers consumer recognition and restricts value creation. To address the challenges of unbranded Vietnamese products lacking clear origin labels in the European market, two main solutions have been identified. The first solution involves investing in marketing storytelling and communication at the local level, with smaller businesses receiving support and investment from larger groups, businesses, or influencers. The second solution revolves around processing agricultural outputs to extract more value and mitigate disease risks. To fully capitalize on further processing, meeting international demand necessitates a focus on foreign development for research and development (R&D) and marketing. This approach calls for increased investment, and local businesses require support from authorities and private investors.
The panel discussion concluded a series of discussions held across Vietnam, facilitating collaboration between domestic producers and businesses. The participation of FAABS board members and European businesses provided a platform for sharing best practices and industry insights. This exchange of knowledge aimed to strengthen the capabilities of Vietnam’s food, agriculture, and aquaculture sectors, enabling them to tap into the global market with confidence.
Are you interested in Food, Agri, and Aqua Business Sector Committee (FAABS) advocacy initiatives? Want to join us? Contact FAABS Coordinator Mr. Nguyen Minh Dang Khoa via khoa.nguyen@eurochamvn.org or call +(84-28) 3827 2715 – Ext 117
