The major export markets under the EU
EVFTA and EVIPA open up opportunities for Vietnamese enterprises to access a large and potentially leading market space in the world. Identifying and thoroughly understanding the “taste” of each partner in the EU will help businesses make the most of the opportunities that these agreements bring.
In the European Union (EU), the Netherlands, Germany, Italy, France, Austria, Belgium, Spain, and Poland are the export markets of Vietnam in recent years. This result continued to be maintained in January 2020.
Specifically, Vietnam’s export turnover to the above 8 markets in January 2020 reached 2.07 billion USD, accounting for 81.9% of Vietnam’s total export turnover to 27 EU countries (excluding the EU). UK), equal to 11.3% of Vietnam’s total export turnover.
Due to the Lunar New Year holiday, January this year has fewer actual working days than in the same period, but export turnover to these key markets is relatively positive. This is a good sign, creating a premise in 2020, exports will achieve higher results than in 2019 when the EVFTA officially takes effect as expected.
The Netherlands has been Vietnam’s largest export market in the EU in recent years. In 2019, Vietnam’s export turnover to the Netherlands reached 6.88 billion USD, of which, there were 9 items with a turnover of over 100 million USD, in particular, 2 items with over 1 billion USD were computers. , electronic products, components, phones.
With a turnover of 6.555 billion USD in 2019, Germany is the second largest export market of Vietnam in the EU. Of the 13 export items of Vietnam to Germany that reached over 100 million USD in 2019, 2 items with over 1 billion USD are phones and components; Footwear.
The next market is Italy. In 2019, Vietnam’s exports to Italy reached 3.439 billion USD, with 21 items reaching over 10 million USD, of which 8 items reached over 100 million USD, especially phones and components reached over 1 billion USD.
For the French market, in 2019, Vietnam’s export turnover reached 3,762 USD, with 7 items reaching over 100 million USD, with 7 items reaching over 100 million USD, phones and components alone reaching over 1 billion USD .
Austria is a huge importer of crude oil from Vietnam. In 2019, of the total import turnover of 3.266 billion USD from Vietnam, crude oil imports accounted for over 2.75 billion USD.
In 2019, Belgium imported 2.551 billion USD from Vietnam, with 3 items reaching over 100 million USD, footwear alone reached over 1.1 billion USD>
Meanwhile, Spain imported nearly 2.718 billion USD from Vietnam. In 2019, with 6 items reaching over 100 million USD, phones and components alone reached over 1 billion USD.
Visible, phones and accessories; Footwear; Computers, electronic products and components are the items that help Vietnam collect a large amount of foreign currency from the top 8 EU markets and continue to be expected to achieve high results in 2020, making a significant contribution to the achievement. general export.
Besides large markets, there are many potential markets in the EU such as Denmark, Greece, Portugal, Finland, etc., but Vietnam’s export turnover is still modest. This is also a space for domestic enterprises to continue to explore.
The necessary paperwork to export to the EU market
Before exporting goods to the international market, each enterprise needs to complete the necessary documents to complete the dossier, so that the export Shipment is favorable and legal.
+ Commercial contract: is a contract signed between a buyer and a seller, including information about goods, information of buyers and sellers, conditions of delivery facilities, payment methods, etc.
+ Certificate of Origin (C/O): This will indicate the origin of the manufactured chemical. In addition, there is a C/O paper to help the goods owner get tax reduction or enjoy special incentives in the destination country…
+ Packing list: this type of document shows the packing method of the shipment, the goods specific information about goods, payment conditions, delivery facilities…
+ Customs declaration: this is the type of document that declares exported goods with the customs office to be eligible for export.
+ Insurance documents: including insurance policy, and insurance certificate. In fact, many export shippers do not buy insurance, to save costs.
In addition, there should also be some other documents such as: Certificate of Product Quality (CQ), Certificate of Inspection (CA), Certificate of Hygiene, etc. And the most important thing is for the items. designated for export to the European market is the CE Marking certificate, indispensable for most items if they want to have a foothold in the European market.