Domestic businesses to receive support to increase exports to Germany

DNHN - The Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency will organise an event on April 21 to help domestic firms increase exports to the German market.

Firms will be updated with information on the German market, while questions regarding farm produce and foodstuff with the market will be answered, including demands of the German market regarding quality, payment, transportation and insurance guarantees.

Dr. Rene Schäfer, an international law consultant from Dornbach GmbH, will brief participants on the Vietnam Desk – the agency that provides information to support Vietnamese and German enterprises to develop cooperation opportunities.

Germany is currently the third largest exporter and importer in the world after the US and China. Statistics from ITC Trademap showed that in 2020, the European country’s total import-export revenue reached 2.55 trillion USD, accounting for about 67 percent of its GDP, including 1.37 trillion USD in exports and 1.17 trillion USD in imports.

Germany is also the largest importer of fresh and processed vegetables in the EU. It is among the most selective markets in the world. However, in recent years, German consumers have become more open to international goods.

Vietnam has maintained encouraging growth in exports to the market. In the first quarter of 2022, Vietnam enjoyed a 1.2 billion USD trade surplus with Germany, which was a good sign in line with the rising trend of the country’s trade with the EU after more than one year of implementing the EU-Vietnam Free Trade Agreement (EVFTA).

Source NDO