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VietNamNews

French market holds potential

Update: June, 25/2014 - 09:34
Workers at Dcotex Garment Company produce clothes for export to European countries, including France. Firms have been encouraged to focus on consumer goods customised for the preferences of French low and middle income segments. — VNA/VNS Photo Tran Viet
VALDEMARNE (VNS) — France's stable, transparent trade and investment policies make it an attractive market for Vietnamese goods, declared head of the Ministry of Industry and Trade's Trade Promotion Agency Bui Thanh Son.

Addressing a meeting in France's Vel-de-Marne Province on Monday, Son also described France as an important gateway for Vietnamese products to penetrate the wider EU market.

There remained untapped opportunities for both business communities after the Viet Nam-EU Free Trade Agreement, which is slated to be completed later this year, Son said.

During the event, representatives from Val-de-Marne Province detailed the local enterprises' financial potential and strength and the province's legal incentives for foreign firms operating in the area and for those that seek to bolster co-operation with local firms.

Jacques Fouvel, a representative from the French giant food retailer Casino Group, headquartered in Val-de-Marne, expressed his delight at the success of the Big C chain in Viet Nam.

Casino planned to expand its presence in Viet Nam, he noted, adding that it also expected to retail high-quality Made-in-Viet Nam products globally through its worldwide supply chain.

France is one of the leading trade partners of the EU. Last year, bilateral trade hit a record high of 3.5 billion euros (approximately US$4.76 billion). Of the total, Viet Nam enjoyed an export surplus of 2 billion euros (about $2.72 billion).

Among the Vietnamese export items recording high value were garments, seafood and electronic machinery and their components.

Earlier this year, the Ministry of Industry and Trade had encouraged businesses to focus on consumer goods customised for the preferences of French low and middle income segments.

According to the ministry's Import-Export Department, these segments remain fertile ground for Vietnamese products, which account for a mere 2 per cent of the markets, excluding footwear, which claimed nearly 10 per cent. — VNS

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