Opportunities and challenges for Dak Lak agricultural products in the European market

(TBTCO) - Experts said that the Vietnam-EU Free Trade Agreement (EVFTA) is opening up great opportunities for Dak Lak's key agricultural products such as coffee, pepper, fruits, honey, etc. deeper access to fastidious but potential markets.

Overview of the seminar. Photo: Organizers

Information at the seminar "EVFTA, opportunities and strategies for Dak Lak agricultural products to conquer the European market" organized by the Department of Industry and Trade of Dak Lak province in collaboration with the Department of Export and Import, Ministry of Industry and Trade on May 29 said that since the EVFTA came into effect, the European Union has recognized 39 geographical indications of Vietnam, including Buon Ma Thuot Coffee.

Experts say that this is a great advantage but also sets stricter brand protection requirements.

Mr. Nguyen Huu Phuc, Deputy Director of the Department of Industry and Trade, said that according to data from the General Department of Customs, in 2023, Dak Lak province's exports to EVFTA markets will reach nearly 1 billion 500 million US dollars, in 2024 it will reach more than 1 billion nearly 880 million US dollars. The main export products are coffee, vegetables, cashews, pepper, rubber, cassava... This figure shows the potential of the province's agricultural product exports. Dak Lak identifies the EVFTA as not only an opportunity, but also a catalyst to restructure the agricultural sector in a more modern, transparent and sustainable direction.

Mr. Nguyen Thanh Hung, a senior consultant of the Government on international integration, pointed out that EVFTA provides deep and wide tariff cuts for Vietnamese agricultural products, but to take advantage of these incentives, businesses need to fully meet the rules of origin, Transparency of supply chains and application of new standards on labor, environment and traceability.

The workshop also recorded many opinions from businesses proposing solutions to build a sustainable supply chain, which is becoming a mandatory requirement of the European market. Meeting the criteria for sustainable development is not only in the production stage but also related to labor fairness, environmental protection and corporate social responsibility.

Coffee preparing for export in Dak Lak. Photo: Illustration

For Dak Lak province, EVFTA is not only an opportunity, but also a catalyst to restructure the agricultural sector in a more modern, transparent and sustainable direction. In the long term, the province will build a technical support center to promote EVFTA to accompany local businesses in their journey to conquer the potential but also challenging European market.

A representative of the Dak Lak Department of Industry and Trade said that the province is promoting support for businesses to build international standard raw material areas, develop product brands and promote exports with a focus. In the long term, the province will build an EVFTA technical support and promotion center to accompany local businesses in the journey to conquer the potential but also challenging European market.

However, on the part of businesses, it is necessary to actively register trademarks, build geographical indication protection documents, especially in the context of counterfeit and counterfeit goods that are easy to damage the reputation of Vietnamese brands in high-end markets such as the EU.

At the workshop, the majority of Dak Lak businesses proposed solutions to build a sustainable supply chain – a factor that is becoming a mandatory requirement of the European market. Meeting the criteria for sustainable development is not only in the production stage but also related to labor fairness, environmental protection and corporate social responsibility.