Netherlands - Gateway for Vietnamese goods to enter EU22/10/2021 5
The Netherlands, one of the leading partners of Vietnam in the EU, is a gateway for Vietnamese goods to enter the EU market, experts have said.
According to the Vietnamese Office for Trade Affairs in the EU, a large volume of Vietnamese goods exported to the Netherlands are re-exported to other European countries. Therefore, Vietnam is also considered the leading trade partner of the Netherlands in Asia.
The Vietnam-EU Free Trade Agreement (EVFTA) is expected to open up greater for businesses from both countries to foster their partnership.
According to the Ministry of Industry and Trade (MoIT), Vietnam and the Netherlands have shared close ties in various fields, especially industry, green and renewable energy, circular economy and emission reduction towards sustainable development.
Meanwhile, the Dutch Government and investors have shown interest in partnering with Vietnam in trade, industry and energy.
Vietnam has been and will be a good choice for Dutch investors, while the business communities of both sides have sought business and investment opportunities in each other’s country, thus optimising advantages brought about by the EVFTA.
Statistics from the MoIT showed that the Netherlands is the biggest export market of Vietnam in the EU and the largest European investors in Vietnam.
Last year, despite COVID-19 impacts, two-way trade still rose 1.5% year on year to over US$7.7 billion thanks to the EVFTA.
In the first months of 2021, positive signs were still seen in two-way trade despite the record height of transport fee.
According to the General Department of Vietnam Customs, in the first six months of 2021, total trade between Vietnam and the Netherlands hit US$4.2 billion, up 19.5% from the same period last year, accounting for 15% of total trade revenue of Vietnam with the whole EU.
Economists attributed the preferential tariff from the EVFTA to Vietnam’s exports to the Netherlands. They affirmed that the prospect is high for the export of consumer goods to the Netherlands as Dutch consumers’ spending is rising.