French and Italian Wine Companies Further Penetrate Dynamic Market of Vietnam

Nine companies from France and five from Italy shared their wines with Vietnamese wine experts in Ho Chi Minh City on July 8 and Hanoi on July 9 at the 4th Traditional Quality Wine Tasting 2013.

 

The 4th Traditional Quality Wine Tasting 2013 is a professionals-only event jointly organized by the Trade Commissions in Vietnam of France (UBIFRANCE) and Italian Trade Commission in Vietnam with the participation of more than 200 professionals. In a joint initiative put forward by the two countries, this special event was a good opportunity for Vietnamese wine experts to enjoy great wines from some of the most renowned European wine producing regions. Importers and distributors also had the opportunity to establish business cooperation with the producers from the two countries.

 

Vietnam is rapidly becoming one of the most dynamic wine markets in Asia.  2012 wine imports grew 10% over the previous year, reaching 63 million Euros. Favourable growth perspectives, improving personal incomes as well as a growing tourism industry help to explain why Vietnam has become a very attractive market for wine makers all around the world.

 

France has been Vietnam top supplier of wines in the past years. In 2012 alone France accounted for 14.3% of Vietnam wine imports. Italian wines are increasingly present in Vietnam and in 2012 accounted for 2.5% after growing by 19.7%.

With special characteristics of soil, water as well as traditions and cultures of wines, Italian and French wines have been famous all over the world and quite different with wines from other countries.

 

Over the last five years, sales of Italian wines in Vietnam have seen a remarkable increase of around 20% per year. We hope that the growth will remain in the coming years although the Vietnamese market is difficult to penetrate due to high import taxes and other regulations.

 

On the occasion of 40^th Anniversary of Vietnam-Italy diplomatic relation, and to further support Italian wine suppliers to enter the Vietnamese market, Italian Trade Commission will continue to organize two more events in Vietnam in October and November, 2013 to introduce wines from two regions of Italy.  

French wines have been famous in Vietnam for many years and accounted for the largest market share in Vietnam in recent years. In 2012, export value of French wines to Vietnam reached around US$9 million. In the period of 2011 and 2012, sales of French wines in the market increased by 7% annually thanks to a diversified ranges of wines, from the high-end level to popular level, and increasing demands of Vietnamese consumers. 

 

After four years of organizing the wine tasting events, many new wine suppliers from France and Italy participated in the event to survey and enter the Vietnamese market. In 2014, UBIFRANCE and the Italian Trade Commission will organize more wine tasting events and business matchings in Vietnam, Thailand and Myanmar for French and Italian wine suppliers to help increase more sales of French and Italian wines in the potential markets.