Vietnam-France trade, investment ties expected to grow further
Vietnamese lychee hits French supermarket shelves. (Photo: VNA) |
The export-import revenue stood at 4.8 billion USD last year, with Vietnam’s exports valued at 3.17 billion USD. In the first eight months of this year, the bilateral trade exceeded 3.4 billion USD, up 6.9% year-on-year, and Vietnam’s shipments fetched 2.23 billion USD, a rise of 4.3%.
Vietnam's key exports included footwear, garments-textiles, household utensils, agro-forestry-fishery products, jewelry, electronic items, ceramics, and rubber, among others.
Meanwhile, it mainly imported high-value and technology-intensive products from the European nation like pharmaceuticals, machinery, equipment, and means of transport.
Experts said since the establishment of the bilateral diplomatic ties in 1973, Vietnam and France have made significant strides in trade. Notably, the EU-Vietnam Free Trade Agreement (EVFTA) has opened up substantial opportunities and prospects, serving as a catalyst for strengthening their economic and trade relations.
Vu Anh Son, head of the Vietnamese Trade Office in France, said 2021 marked the inaugural year for the office’s efforts to introduce Vietnamese fresh fruits, particularly lychee and longan, to the French market. The same year, Vietnamese canned fruit products made their debut at supermarkets there, followed by rice in 2022.
The office stepped up such efforts in 2023 with a range of promotion events in France, he said, adding that in 2024, it coordinated with the Vietnamese Cultural Centre in Paris and the Ministry of Culture, Sports, and Tourism in organising a big programme honouring Vietnamese lychee.
Regarding the Vietnamese goods week at Carrefour supermarkets, Minister of Industry and Trade Nguyen Hong Dien said it is significant to introducing Vietnamese products to French consumers, saying Carrefour is not just a distribution channel but also a platform promoting the Vietnamese cuisine.
The Vietnam Free Trade Agreement Portal (FTAP) has provided necessary information about the French market and the two-way trade for businesses, along with the list of agencies that would support them to set up partnerships with French firms.
The office stressed that Vietnam needs comprehensive and well-structured strategies to boost exports to this demanding market, saying products must strictly adhere to the EU’s regulations regarding food safety, quality management, and environmental protection.
This not only improves the competitiveness of Vietnamese goods in the French market but also contributes to building the country's brand and image on the international stage, it said.
It also suggested businesses equip themselves with knowledge about the EVFTA to optimise it for deeper integration into the French market.
The office also pledged to make greater efforts in unleashing the market, promoting the export of some potential Vietnamese agro-fishery products, and attracting French investors to Vietnam in the time ahead./.
See also
Vietnamese pangasius becomes leading option for Brazilian consumers
15:44 | 15/10/2024 Foreign trade
Shrimp exports bring home nearly 2.8 billion USD in nine months
09:56 | 15/10/2024 Major exports
Việt Nam's trade turnover poised to hit $800 billion mark
09:51 | 15/10/2024 Foreign trade
Vietnam-Cambodia trade turnover soars by 21.9% in nine months
09:50 | 14/10/2024 Foreign trade
Tuyen Quang exports first batch of OCOP products to the UK
16:47 | 12/10/2024 Foreign trade
Green export: Change or exit the “game”?
16:31 | 12/10/2024 Foreign trade
See more news
US issues preliminary anti-subsidy findings on solar panel imports from Vietnam
09:25 | 08/10/2024 Foreign trade
Vietnam, Tunisia promote trade cooperation
10:04 | 07/10/2024 Foreign trade
Import-export revenue rises over 16% in nine months
08:54 | 07/10/2024 Foreign trade
Rice exports expected to exceed 5 billion USD target
17:04 | 06/10/2024 Major exports
US initiates probe into dumping and countervailing duties on Vietnamese steel
16:55 | 06/10/2024 Foreign trade
Vietnam's rice export turnover up 23.5% in nine months
17:16 | 05/10/2024 Major exports
Nine-month agro-forestry-fisheries exports rise 21%
09:35 | 04/10/2024 Foreign trade
Vietnam earns over 7 billion USD from fishery exports in nine months
09:11 | 04/10/2024 Major exports
US initiates administrative reviews of anti-dumping duties on three products from Việt Nam
15:38 | 03/10/2024 Foreign trade
Positive signals for exports in remaining months of 2024
11:46 | 03/10/2024 Foreign trade
Promoting credit for key agricultural sectors in Mekong Delta
11:11 | 25/11/2024 Finance-Banking
Deputy PM meets with Vietnamese community in Denmark
10:56 | 25/11/2024 Cooperation
Weather-related risks, low interest rates hinder bank loans to agricultural sector
10:35 | 25/11/2024 Economy
Vietnam, Bulgaria look toward new height in trade volume
09:54 | 25/11/2024 Trade
Hà Nội to change to green energy buses by 2035
09:49 | 25/11/2024 Society
Multimedia
Banning motorbikes - a complex issue
09:32 | 24/11/2024 Society
Strengthening Vietnam-Cambodia friendship and cooperation
09:00 | 22/11/2024 Infographic
Vietnam - Malaysia Strategic Partnership
10:54 | 21/11/2024 Infographic
Vietnam, Dominican Republic strengthening cooperation
08:45 | 20/11/2024 Infographic
Vietnam - Brazil strategic partnership
10:26 | 19/11/2024 Infographic
New decree on using telecommunications accounts for payment proposed
09:29 | 22/11/2024 Policy
Parliament approves amendments to pharmacy law
08:54 | 22/11/2024 Policy
VAT tax reduction should continue until mid-2025: Ministry
17:15 | 21/11/2024 Policy
NA deputies scrutinise investment policy for North-South high-speed railway project
08:54 | 21/11/2024 Policy
Vietnam’s automotive supporting industry: A bright future ahead, riding the wave of growth
20:42 | 22/11/2024 Industry
VN's food processing industry struggles to improve quality and value chain integration
11:36 | 22/11/2024 Industry
Tra fish sector aiming for production, processing greening for sustainable development
15:38 | 20/11/2024 Industry
Solutions discussed to ensure coal supply for electricity generation in 2025
16:24 | 19/11/2024 Energy
Thai packaging giant takes 30-year lease for largest ready-built factory in Tay Ninh
16:58 | 22/11/2024 Investment
Workshop seeks ways to attract Japan’s green investment to Vietnam
09:43 | 20/11/2024 Investment
Government approves investment policy to build Cam Lien Industrial Park in Quang Binh
16:57 | 18/11/2024 Investment
Disbursement of public investment must be accelerated: Deputy PM
12:17 | 17/11/2024 Investment
Promoting credit for key agricultural sectors in Mekong Delta
11:11 | 25/11/2024 Finance-Banking
HDBank wins three awards at Vietnam Listed Company Awards 2024
10:53 | 21/11/2024 Finance-Banking
VIB, Flywire partner to streamline cross-border payments for students from Vietnam
16:46 | 18/11/2024 Finance-Banking
Vietcombank issues 2 trillion VND worth of green bonds for first time
18:55 | 16/11/2024 Finance-Banking
Tough negotiations to prevent Earth’s warming
10:38 | 24/11/2024 Environment
MoT view on raising emission standards for scooters from 2027
19:46 | 23/11/2024 Environment
Significant progress in fisheries' environmental protection but challenges remain
09:35 | 22/11/2024 Environment
Hà Nội prepares for temperature drop as cold front approaches
16:56 | 21/11/2024 Environment
Vietnam: A global magnet for scientific talent
16:58 | 24/11/2024 Science - Technology
Samsung launches technology talent development programm
09:36 | 24/11/2024 Science - Technology
Việt Nam and Korean NIPA strengthen tech cooperation
10:42 | 22/11/2024 Science - Technology
Cyberattack risks surge with AI advancements
10:39 | 22/11/2024 Science - Technology
Hà Nội to change to green energy buses by 2035
09:49 | 25/11/2024 Society
More employment opportunities for people with disabilities
09:12 | 25/11/2024 Society
ASEAN transport connectivity to be enhanced
10:46 | 24/11/2024 Society
Banning motorbikes - a complex issue
09:32 | 24/11/2024 Society
Petrovietnam grows strongly thanks to volatility management
07:29 | 24/11/2024 Companies
Doubling insurance product’s payout significantly benefits customers
16:22 | 22/11/2024 Vietnamese Brands
PJICO: 30 years of development
11:19 | 22/11/2024 Vietnamese Brands
VN takes part in food and beverage fair in Chicago
09:45 | 20/11/2024 Vietnamese Brands
Exhibitions in Hà Nội downtown celebrate Heritage Day
13:55 | 23/11/2024 Culture
Vibrant cultural rendezvous in Hanoi
15:30 | 22/11/2024 Lifestyle
Cultural activities celebrate Việt Nam Heritage Day
10:06 | 22/11/2024 Culture
Bac Ninh Province: Dong Ho folk painting needs urgent safeguarding
15:04 | 20/11/2024 Culture
Quang Nam to host UN international conference on rural tourism
09:46 | 24/11/2024 Tourism
Agritourism needs opportunities to “take off”
12:05 | 23/11/2024 Tourism
Golden time for community-based tourism development
10:38 | 22/11/2024 Tourism
Christmas Festival to entertain visitors to Đà Nẵng
09:53 | 22/11/2024 Tourism