Việt Nam targets $5.5 billion in agro, forestry and fisheries export value to EU

VIETNAM, July 11 –

HÀ NỘI Việt Nam has set a target for the export value of agricultural, forestry and fisheries products to the EU market to reach $5-5.5 billion by 2025.

In 2025, processed products would represent 30% of the total agricultural, forestry and fishery products from Việt Nam exported to the EU. Around 20 percent of agricultural, forestry and fishery products exported to the EU are said to be sold directly to retail channels in this market.

These percentages would increase to 50% and 30% respectively by 2030, according to a scheme drawn up by the Ministry of Agriculture and Rural Development (MARD). The export value of these products to the EU market is also expected to increase to $7.5-8 billion by 2030.

The ministry has implemented many solutions to achieve these goals, such as increasing connection and participation across ministries, sectors and localities.

It will focus on changing the consciousness and habits of farmers in the production of agricultural products. In addition, there is also a need to improve agricultural production infrastructure as well as aquaculture and seafood processing to meet EU standards.

There is also a need to implement economic reforms, especially agriculture and land issues, and policies and institutions on science, technology and state management. These will help Việt Nam improve the competitiveness of agricultural products and achieve long-term sustainable agricultural development.

The export of Vietnamese agricultural products faces many significant challenges, including internal limitations in the sector’s development process and increasingly stringent commitments on product quality and environmental standards.

Việt Nam’s agricultural exports offer great opportunities for expanding markets, improving the value and quality of export products, attracting investment and modern production technologies from joining the EU-Việt Nam free trade agreement to stimulate exports to this market.

Currently, the EU is one of the four main export markets for Việt Nam’s agricultural, forestry and fishery products. The EU is also one of the world’s three largest markets for agricultural, forestry and fishery products.

Việt Nam is one of the four Asian countries to have signed an FTA with the EU. Therefore, to effectively harness the benefits of EVFTA, Vietnamese agricultural products need to improve their quality and value.

According to Nguyễn Trung Kiên, head of MARD’s International Cooperation Department, the EU spends about $1 trillion on food and beverages every year, including $300 billion in imports.

Lộc Trời Group Joint Stock Company said about 500 tons of branded “Vietnamese rice” delivered by the company in June would arrive in Germany, the Netherlands and France in July. Of which, the “Vietnamese rice” exported to France will be sold at Carrefour, a large distribution system.

This is the first step in the group’s journey to bring Lộc Trời rice to the global market.

In February 2022, Golden Gate Joint Stock Company cooperated with Western Farm Co, Ltd. to export the first batch of mangoes to the EU market.

This batch of mangoes supplied by the agricultural service cooperative of Tịnh Thới in the province of Đồng Tháp has an export price of 11 to 13 euros per kilo. The price of this fruit in EU supermarkets is 18 euros per kilo.

However, according to Kiên, some Vietnamese agricultural products still have low export volumes to the EU. In addition, Việt Nam’s agricultural exports to this market face strong competitive pressure.

Specifically, Vietnamese fruits and vegetables have major competitors from South America, West Africa, South Africa, Thailand, the Philippines, India and China.

Meanwhile, coffee, pepper and cashew products from Việt Nam have to compete with products from Indonesia, India, Brazil, Ivory Coast and Mozambique.

Its seafood products face competition from products from Norway, China, Ecuador and Morocco.

Kiên said that to increase exports to the EU, major companies in Việt Nam should promote the construction of a supply chain for exports to reduce transportation costs and develop their brands.

To take advantage of the EVFTA in exporting agricultural products to the EU, companies and farmers must cooperate in supplying the building. export chains.

Nguyễn Đình Tùng, general manager of Vina T&T company, said that the difficulty for the export of agricultural products, especially fruits, today is conservation. The most important factor is the search for preservation technologies to preserve the freshness of agricultural products for longer.

In addition, companies need the support of state management offices and associations to carry out their advertising and marketing activities.

Dr. Nguyễn Đắc Bình Minh, Director of the Regional Research and Development Institute of the Ministry of Science and Technology, also noted the traceability of export products as it is a mandatory requirement of many Multilateral FTAs, in particular the one with the EU. VNS

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