As France is a fertile market and a gateway to other EU nations, many Vietnamese exporters have strived to make inroads into this potential market.
In 2012, despite economic slowdown in France, the merchandise trade turnover between Vietnam and France still expanded. According to statistics from the General Department of Vietnam Customs, the two-way trade revenue exceeded US$3.75 billion in 2012. The trade value continued to expand in the first three months of 2013. Notably, Vietnam’s merchandise export to France reached US$502.15 million in the January - March period, up 18.37 per cent year on year, including US$151.58 million in March, up 23.24 per cent month on month. However, Vietnam imported US$319.9 million from France in the period, up 49.65 per cent over the same period in 2012.
Vietnam’s exports to France are quite diverse, including footwear, apparels, household appliances, agricultural products, electrical devices, electronics devices, rubber, coal, bamboo and rattan products. Mobile phones and electronic components are Vietnam’s key exports to France. These two products are expected to soar in the coming time because the French are very keen on Samsung mobile phones made in Vietnam. On the other side, Vietnam’s major imports from France include pharmaceuticals, chemicals, cosmetics, perfumes, wine, high-end fashion products, electronic products, optical products, and IT products.
Vietnam and the EU are currently negotiating a free trade agreement (FTA) in order to gradually reduce tariffs on products. Ms Nicole Bricq, French Minister of Foreign Trade, said the signing of Vietnam - EU FTA will be good to both parties. This agreement will be one of the instruments that help businesses of the two sides with more favourable access to each other's markets. And, France can export to and import from Vietnam more easily.
She said Vietnam is one of the countries in which France places priority to boost trade with in the future. Accordingly, France will invest more to penetrate the Vietnamese market, especially manufacturing industry and export-driven industries. French small and medium enterprises can bring solutions to meet consumer demand in Vietnam.
Mr Nguyen Canh Cuong, Commercial Counsellor of the Vietnamese Embassy in France, said France imports raw industrial materials (oil, gas, coal and metals) and consumer goods (apparels, footwear, seafood, cattle meat, coffee, pepper, fruits and vegetables, furniture and household appliances). These items are Vietnam’s advantageous exports. Vietnam’s export turnover to France continuously increases on growing demand for consumer goods because of reasonable prices and good quality.
He added that to create a breakthrough Vietnam - France trade ties, Vietnamese businesses should intensify advertisement and introduction of their high-quality product supplies and Vietnamese economic development to French companies in order to help them plan imports from Vietnam and access Vietnamese partners. They should perform direct trade with French partners and carry out trade promotion activities in France with the assistance of Vietnamese chamber of commerce in France. This is a good chance to boost France’s economic, commercial and investment relations with Vietnam.
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