According to the Vietnamese Trade Office in Sweden, Vietnam is greatly benefiting from the EU-Vietnam Free Trade Agreement (EVFTA) and it has helped promote trade between Vietnam and Sweden.
In January Vietnam’s export turnover to Sweden surged 99.94 percent year-on-year and figures from the General Department of Vietnam Customs show that two-way trade hit about USD 160.89 million in January, of which Vietnam’s exports to Sweden were worth 132 USD million.
Vietnam exports mostly agricultural products, footwear, textiles, and wooden products to Sweden, and in addition, the Vietnamese Trade office notes that Vietnamese rice has many opportunities to enter the Swedish market.
According to Phan Dang Duong, Vietnam’s Ambassador to Sweden, the EU market and Sweden, in particular, have a high demand for tropical and processed agricultural products and Vietnam holds great potential to expand the country’s export to Northern Europe.
Meanwhile, Sweden exports key products such as machinery and spare parts for industry and telecommunications products to Vietnam.