Hanoi, July 11, 2022 (WAM)-Vietnam has set a target for exports of agricultural, forestry and fishery products to the EU market to reach US $ 5.5 billion by 2025, Vietnam News Agency (VNA) reported.

By 2025, processed products will account for 30% of Vietnam’s total agricultural, forestry and fishery products exported to the EU. About 20% of agriculture, forestry and fishery products exported to the EU are sold directly through retail channels in this market.

According to a plan developed by the Ministry of Agriculture and Rural Development of Vietnam (MARD), these percentages will increase to 50% and 30%, respectively, by 2030. The value of exports of such products to the EU market is also targeted to increase to US $ 7.5-8 billion by 2030.

Vietnam’s agricultural exports promote exports to this market in expanding the market, improving the value and quality of exported products, investing by participating in the EU-Vietnam Free Trade Agreement (EVFTA) and attracting the latest production technology. I have a great opportunity.

Currently, the EU is one of the four major export markets for agriculture, forestry and fishery products in Vietnam. The EU is also one of the world’s three largest markets for agriculture, forestry and fishery products.

Vietnam is one of the four Asian countries that sign the EU and FTAs. Therefore, in order to effectively utilize the benefits of EVFTA, Vietnamese agricultural products need to improve their quality and value.

WAM / Esraa Ismail

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