VN’s export to EU still rises despite more technical barriers

VGP – Mr. Hans Farnhammer, First Secretary of the European Union (EU) Delegation to Việt Nam, said on Wednesday that Việt Nam would improve competitiveness of its exports to the EU market though the latter erects more technical barriers.

June 23, 2010 3:48 PM GMT+7

Though the barriers are increasingly strict, Việt Nam’s export turnover to the market reached €7.7 billion in 2009 from €2.3 billion in 2003. This year’s first-two-months export earnings stood at €1.4 billion.

This year, as Mr. Hans Farnhammer stated, would be lucrative for Vietnamese exports as the world’s economy is getting back on track. However, the country still faces challenges in its export markets like anti-dumping or subsidy suits.

The EU is Việt Nam’s second biggest export market. Many commodities, including garments, textiles, footwear, and seafood, are now under great pressure from barriers imposed by the Union.

Currently, Vietnamese leather-capped shoes are levied up to 10% for anti-dumping tax since the beginning of 2010, leading to dramatic shrinkage of Việt Nam’s footwear export turnover to the EU.

Legal assistance for Vietnamese exporters should be enhanced to adapt to future possible trade disputes at first outreach, former Deputy Minister of Trade Phan Thế Ruệ suggested.

Trade barriers and technical standards have impeded Vietnamese enterprises to grasp the world’s markets, Mr. Ruệ said.

Regarding to this hot issue, a seminar was organized this morning by the Việt Nam Chamber of Commerce and Industry and EuroCham.

Participants to the event pointed out opportunities and challenges for Vietnamese businesses to utilize free trade agreements and exchange ideas on how to export to the EU and settle trade disputes.

They also stressed the importance of commodity associations in providing foreign countries’ legal advices in advance to raise the Vietnamese goods’ competitiveness.

By Hải Minh