Two new approaches in the Northern Euro market

DNHN - Northern Europe consists of small countries and has an open and modern economy. Import and export accounting for 50-60% of GDP on average. Despite their small populations, the Nordic countries' import volume is quite impressive.

To promote exports to the Nordic market will be considerably more challenging than in EU countries with large populations and central locations. Frequently, Vietnamese businesses choose to deliver their goods to the Nordic market via large intermediary importers in Germany, France, Belgium, the Netherlands, and Poland. Pangasius and Vietnamese rice are also very popular in the Nordic market.

Developing the Nordic market in the near future needs to be reoriented with a new approach.

First, promotion is required to increase the market presence of Vietnamese products. As long as consumers are aware of Vietnamese goods, businesses will import a lot of Vietnamese goods, even if they do not import directly from Vietnam, but through focal points in other EU countries. This will help increase the export turnover of Vietnam in general.

Second, focus on local exports. Currently, Nordic retail groups operate around the world in all fields such as: food, household goods, handicrafts, fine arts, etc. If Vietnamese businesses can supply goods, for these corporations, or lobby them to invest in Vietnam, which means that goods made in Vietnam will be distributed in their extensive retail network.

Therefore, attracting investment in high-quality industries for export and corporations with global distribution networks of these countries to invest in production and then export back into their distribution networks should be a top priority. At that time, not only did investment and exports increase, but so did exports to Nordic countries.

Lâm Nghi