Vietnam Plans New Rep Offices in Europe to Boost Trade

The seminar on approaching the EU market, which was attended by about 200 businesses from northern provinces, was jointly organised by the European Commission delegation to Vietnam and Hanoi's Department of Trade late last month.

Minh said trade promotion activities last year failed to meet government expectations and demand from enterprises. To fix this, Vietnam will enhance activities in providing information about markets and goods, Minh said.

The government should also create a transparent legal framework to help local companies penetrate the European market and enhance their competitive edge, he said.

Vietnam will continue to strengthen trade promotion of its main exports to the EU, including textiles and garments, footwear, seafood, handicrafts, wooden furniture, coffee, tea, plastic products, rubber and other products.

Minh set a target of 40 per cent growth in earnings from exporting textiles and garments to the EU this year because the EU has agreed to remove quotas for Vietnamese garments. He also said that Vietnam could increase its furniture exports by 40 per cent this year and should boost cooperation with IKEA, the large Swedish furniture company and importer.

The EU was Vietnam's largest trading partner with a bilateral turnover of US$7.3 billion in 2004. This figure represents a 20 per cent increase against 2003, according to the Ministry of Foreign Affairs' EU Department.

Vietnam expects exports to the EU will grow 21 per cent on-year to US$6.4 billion this year.

• VNS