Vietnamese coffee has achieved remarkable export figures and record prices in 2024, now awaiting the EU’s pivotal decision on its Anti-Deforestation Regulation, expected to impact market dynamics.

The EU spent nearly US$3.1 billion on importing garments and textiles from Vietnamese suppliers during the initial nine months of the year, up nearly 10% against the same period last year, according to the General Department of Vietnam Customs.

Vietnam improved its business environment the most over the past two decades, according to a recent analysis by the Economist Intelligence Unit (EIU).

As the EU Deforestation Regulation (EUDR) is about to officially take effect on December 31, 2024, Vietnamese enterprises have been advised to act quickly to comply with this rule to sustain exports to this major market.

The EUDR mandates that products placed on or exported from the EU market must be traceable, deforestation-free and produced legally.

The Plant Protection Department urged enterprises to strictly comply with the EU’s quality regulations for agricultural products, as the bloc increases demands on several farm products from Vietnam

The European Commission (EC) has recently issued a notice aimed at initiating an anti-dumping investigation into a number of hot-rolled steel products imported from Egypt, India, Japan, and Vietnam.

August 1, 2020, marked a significant milestone for Vietnam and the European Union (EU) as the EU-Vietnam Free Trade Agreement (EVFTA) came into effect.

The EU - Vietnam Free Trade Agreement (EVFTA) has strengthened Vietnam's attractiveness for European investors, stated a survey by the European Chamber of Commerce in Vietnam (EuroCham) on July 31.

To reach environmental and climate goals, the EU has imposed the ESPR (Ecodesign for Sustainable Products Regulation), commencing July 18, 2024, which is expected to have an impact on Vietnam’s key export products to the EU.

Vietnamese garment and textile exports to the EU recovered slightly during the first half of the year, with turnover reaching more than US$1.9 billion in the reviewed period.

The European Commission has extended safeguard measures on steel products for two more years until June 2026, impacting many steel exporting countries, including Vietnam.

Vietnam's instant noodles will be exempted from food safety control in the EU starting from July 2, as they have met related regulations,

The International Cooperation Department under the Ministry of Agriculture and Rural Development confirmed the inaccurate information regarding Vietnamese fragrant rice of ST24 and ST25 benefiting preferential taxes in the European Union market.

Vietnam has nine fragrant rice varieties that enjoy tax incentives within their export quota into the European Union, but there are no world’s best rice varieties ST24 and ST25.

Vietnamese rice has recently secured a firm foothold within the European market by boosting its own brand, thereby creating fresh momentum for new breakthroughs to occur this year.

The export turnover of Vietnamese fruits and vegetables to the European Union has increased considerably over recent years, from US$200 million in 2022 to US$399 million in 2023, making the EU the third largest consumer of the Vietnamese products.

Vietnam shipped nearly 104,000 tonnes of rice to the EU market worth US$71.7 million last year, exceeding the quota of 80,000 tonnes per year under the EU-Vietnam Free Trade Agreement.

Entering the market is already difficult, but maintaining market share can be even more difficult.