Opportunities from German market
To take full advantage of the benefits from the EVFTA to export goods to Germany, Vietnam’s businesses need to carefully study all the relevant contents of the EVFTA:
MoreBesides opportunities, the EVFTA also poses some challenges for Vietnam's exports, including:
MoreVietnam is known as a country with many advantages in the production and export of tropical, subtropical and temperate vegetables and fruits.
MoreVietnam is the third largest footwear exporter in Asia and the fourth largest in the world. Notably, the number of footwear exported from Vietnam is only behind China.
MoreGermany is known as the largest coffee consumption market in Europe. According to Eurostat, in 2019, Germany accounted for 26% of the total European coffee consumption with an average of 6.5kg/person/year (higher than the European average of 5.2kg/person/year).
MoreGermany is known as the EU's largest import market for apparel products (clothing from Chapters 61 to 63 in the HS System) with increasing import demand.
MoreGermany is a market with relatively stable demand for seafood products, with salmon, fish fillets and shrimp being the most consumed in Germany.
MoreThe EVFTA has a separate Chapter (Chapter 12) on Intellectual Property (IP). Compared with the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) of the WTO, the EVFTA has a broader scope of regulations and higher standards of protection in some aspects of IP.
MoreIn comparison with TRIPS and Vietnamese law, the commitments on Copyrights, Trademarks, Industrial Designs and Patents in the EVFTA have some notable new points as follows:
MoreGeographical Indication (GI) is a category of IP that the EU has particular interest as it has a lot of products protected in the form of GI.
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