09:32 | 29/04/2015 Trade
(VEN) - Vietnam has faced numerous export difficulties, especially in early months of 2015. However, Vietnamese exports to Denmark have grown on a stable basis.
Photo: Can Dung
According to the General Statistics Office, in the first two months of 2015 Vietnamese exports to Denmark reached US$55.68 million, a rise of 29.94 percent compared with the same period last year. While exports to major markets dropped, exports to Denmark have grown on a stable basis in the recent period. Notably, compared with the average growth of Vietnamese exports to European countries (11.4 percent), exports to Denmark grew at a double that rate. Major Vietnamese exports to Denmark included textiles and garments, footwear, wood products, machinery and equipment, instruments and spare parts, plastics, transport means and spare parts, iron and steel products, and coffee.
Textiles and garments topped the list of Vietnamese exports to Denmark with their export value reaching US$13.07 million, up 0.14 percent compared with the same period last year, accounting for 19 percent of the total export value. Footwear ranked second with US$10.3 million, up 118.56 percent. The export value of other products also grew considerably.
Denmark is one of the top ten economies in the world in terms of per-capita gross domestic product (GDP). It In recent years, Denmark has continuously been the largest European nonrefundable aid provider for Vietnam in a wide range of fields in recent years, especially green growth and climate change prevention, accounting for 25 percent of total nonrefundable aid from EU countries for Vietnam.
Bilateral trade between Vietnam and Denmark has grown continuously since 2009 at a rate of 75 percent. Denmark has great potential for further trade with is a potential trading partner for Vietnam, offering a gateway to the rest of Europe. Through Denmark, Vietnamese exports can access the markets of many other European countries. In the last many years, the countryDenmark has implemented trade liberalization policies and opened its market to facilitate exports from other countries to Denmark. Notably, the signing of a comprehensive partnership agreement Vietnam and Denmark in 2013 helped the two countries tighten and strengthen bilateral relations in the fields of politics, trade and investment.
Denmark is currently the third largest EU exporting country to Vietnam among the EU countries (measured per capita). Vietnam is actively negotiating to prepare for the signing of a free trade agreement with the EU, which is expected to bring new opportunities for Vietnamese goods to enter Denmark and other European countries.
However, like other European countries, Denmark has strict requirements in terms of product quality. To make their products firmly positioned in the Danish market,ensure their popularity, Vietnamese businesses need to increase investment in technology to improve product quality. In addition, they need to improve their knowledge about international trade and invest in brand building and development to make their products more reliable to consumers.
By Lan Phuong