Currently, Vietnamese businesses are facing challenges penetrating the EU market and having their commodities circulated in the 26 EU member countries. The EU market always has strict technical regulations relating to human health, the environment, sustainable development and anti-dumping measures. Therefore, Vietnamese businesses should improve their product quality and devise proper strategies to effectively access the demanding market.

In 2011-2013, Vietnam enjoyed the EU’s Generalized System of Preferences (GSP) with a tax rate reduction of 3.5 percent on average compared to GSP rate making up 25 percent of Vietnam’s total export turnover in the EU market.

The EU plans to adjust GSP regulations in 2013 by minimizing GSP for highly competitive countries to create favourable conditions for businesses in developing countries, including Vietnam, to improve their competitiveness in the market.

Tran Ngoc Quan, Deputy Head of the European Market Department under the Ministry of Industry and Trade asked domestic businesses to learn more about their partners, especially their payment methods.

In addition, they should devise proper strategies for exporting processed and unprocessed products, improve product quality, grasp regulations to protect themselves, and explore trade agreements.

Moreover, developing chain business models and penetrating EU distribution networks will bring more opportunities and advantages for Vietnamese products.

Jos Schellaar, Dutch Consul General in HCM City said “with advantages of economics and trade, the Netherlands will help Vietnamese goods achieve greater penetration of the demanding EU market.

Meanwhile, Bruna Santarelli, Chief Representative of the Italian Trade Commission Office under the Italian Embassy in Vietnam, said that Italy - the world’s seventh largest exporter and eighth importer- makes up 3.5 percent of global trade. The Trade Commission Office has offered many free services to help Vietnamese businesses expand investment and business in the country.

Vietnam-EU two-way trade turnover has increased from US$4.1 billion in 2000 to the current US$24.29 billion in which Vietnam’s exports to the EU hit US$16.5 billion and its imports from the country reached US$7.74 billion.