HANOI, Nov. 2 (Xinhua) -- The European Chamber of Commerce ( EuroCham) in Vietnam held a seminar to update information for exports to the European Union (EU) market in southern Ho Chi Minh City on Wednesday, reported Vietnam News Agency.

The event was in the framework of the project to enhance trade policy-related capability for Vietnamese businesses, and under the EU-Vietnam Multilateral Trade Assistance Project in Phase 3 ( Mutrap III).

According to Albert Franceskinj, lawyer at the Fidal Franceskinj Chazard and Partners, EU applies many tough regulations to the imports so as to create a wholesome competitive environment. So the enterprises should not work separately, but closely cooperate with one another, doing business under international laws and standards to meet the market requirements.

Deputy Director of the Central Institute for Economic Management (CIEM) Vo Tri Thanh said that global economic growth will likely decline in the fourth quarter of this year and in 2012, of which the EU market would face difficulties in terms of the exports due to its deep decline. However, its potential is huge, because it comprises 27 countries, among them some have recorded good economic growth.

Vietnamese businesses should be more active in seeking new trade partners, expanding trade promotion events and increasing competitiveness with high-quality, diversified products. The government would implement measures to support small and medium- scale businesses involving in exportation, agricultural production and rural development, said Thanh.

In the first ten months, Vietnam's exports to the EU increased over 30 percent year-on-year, mostly with leather and footwear, garments, seafood, coffee, wood and wood-based products.

November 2, 2011

Source: Xinhua News

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