EU food firms to seek business in Vietnam

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Vietnam is the first stop on Commissioner Phil Hogan’s itinerary, with the delegation visiting Hanoi and Ho Chi Minh City from November 2 to 4.

The delegation comprises 41 business executives from food and beverage companies.

According to the EU Delegation to Vietnam, they represent businesses from various countries like Belgium, Bulgaria, Denmark, Finland, France, Greece, Germany, Hungary, Ireland, Italy, the Netherlands, Poland, Portugal, Romania, Spain, and the UK.

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They are expected to promote as safe, high-quality and nutritious a range of agricultural and food products like fruits and vegetables, fresh meat, poultry, processed foods, milk and dairy products, and wine and spirits.

They will have a busy itinerary including seminars on the EU-Vietnam Free Trade Agreement and quality food concepts such as Geographical Indications, business opportunities in Vietnam, a networking lunch, visits to local and international retailers, and B2B meetings.

As a rapidly growing ASEAN economy, Vietnam offers substantial potential for EU businesses.

The EU is among Vietnam’s largest trading partners, with bilateral trade reaching EUR 38.4 billion (USD41.93 billion) last year, with the latter enjoying a trade surplus.

The EU was the second largest overseas market for Vietnamese products after the US and Vietnam ranked 21st among the bloc’s trading partners.

The visit comes at an opportune time since the two sides have concluded negotiations for a free trade agreement and expect to sign soon.