Ceramic exports in first half surge thanks to EVFTA

18/07/2022    59

Vietnam’s fine art ceramic exports during the first half of the year soared by 6.5% to US$375.59 million on-year as local exporters optimised the opportunities of the EU-Vietnam Free Trade Agreement (EVFTA), according to details given by the General Department of Vietnam Customs.

Most notably, the majority of businesses received bulk orders, with the average growth rate ranging between 15% and 20% against the same period from last year.

June alone witnessed the country’s fine art ceramic exports to the EU increase by 4.5% to US$63.77 million compared to May, with six-month exports to the bloc reaching US$45.65 million.

Furthermore, the country ranked third, behind only China and Thailand, among the largest providers of fine art ceramics to the EU, with an annual growth rate of 7.6% throughout the 2016 to 2021 period, according to the European Statistics Agency (Eurostat).

Information provided by the International Trade Center (ITC) indicates that the country must seek to establish centres for processing and standardising raw materials for the ceramic industry as a means of developing the sector in a sustainable manner and creating value-added ceramic products.

Moreover, firms are advised to maximize tariff incentives from signed agreements in order to import cutting-edge technological machinery from developed countries, launch ceramic products suitable for domestic and international consumption demand, enhance overall competitiveness, and expand market shares as part of the global market.

Experts pointed out that amid global fluctuations, local enterprises are required to devise proper strategies, accelerate the technological and digital transformation, renovate their business models, and apply science and technology into the production process.

This comes as Vietnamese firms are also required to fully meet technical safety standards and regularly innovate fine art ceramic product designs in order to make further inroads into the EU market moving forward.

Source: VOV