Online platforms regarded as better way for local businesses to enter Nordic market

Friday, July 30, 2021  16:52

VOV.VN - Local firms have been advised to step up trade promotion efforts through online platforms to make further inroads into the Northern European market amid ongoing COVID-19 challenges, according to industry insiders.

Vietnamese Ambassador to Sweden Phan Dang Duong stated that the Vietnamese Trade Office in Sweden has recently launched an English language website aimed at supporting domestic businesses to boost exports via online platforms to the market.

It is anticipated that the website will serve as a channel that can be used to promote trade exchanges and help Vietnamese goods create a greater presence within the Nordic market, Ambassador Duong noted.

Economists from the International Trade Center (ITC) believe that new-generation free trade agreements (FTAs) will create competitive advantages for Vietnamese enterprises to penetrate the Nordic market. This includes the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU–Vietnam Free Trade Agreement (EVFTA), and the upcoming Regional Comprehensive Economic Partnership (RCEP).

Most notably, consumer demand for goods is predicted to increase by approximately 5% in the Nordic market and roughly 17% in the Icelandic market.

Le Ba Linh, chairman of the Board of Directors of Pacific Foods JSC, an enterprise that specializes in exporting Vietnamese fruits to the EU market, revealed that there are bright prospects for local agricultural products ahead in the Nordic market. Indeed, tropical fruits such as litchi dragon fruit, jackfruit, mango, longan, and pomelo all represent items that could potentially do well when being exported to Scandinavian countries.

Despite these positives, Linh emphasized that Vietnamese agricultural products are required to comply with stringent regulations on product quality.

This includes not using chemical fertilizers whilst ensuring that products are grown in line with Global GAP and VietGAP standards, all of which will serve to make greater inroads into the demanding market.