With Vietnamese exports to the Netherlands over the first nine months surging by 40.1% year on year to US$7.817 billion, the country is anticipated to rake in more than US$10.4 billion from exports to this demanding market this year.

At present, the Netherlands is Vietnam’s sixth largest export market in the reviewed period behind the United States, China, the Republic of Korea, Japan, and Hong Kong (China).

Among the 12 key commodities exported to the Netherlands, two groups of items - computers, electronics and components, and machinery, equipment, tools and spare parts - recorded turnover of US$1.963 billion and US$1,422 billion, respectively.

Vietnam enjoyed a huge trade surplus of US$7.337 billion with the Netherlands throughout the nine-month period, far higher than last year’s figure of US$5.068 billion.

The sharp rise in exports can largely be attributed to the Netherlands’ import and export scale, along with positive signs of the implementation of the European Union-Vietnam Free Trade Agreement (EVFTA).

With the export and import turnover to the Netherlands predicted to reach US$10.4 billion and US$704 million, respectively, Vietnam is expected to rack up a trade surplus of approximately US$9.7 billion this year.

Experts have advised local firms to utilise tax incentives under the EVFTA and strictly comply with set regulations relating to food hygiene, safety, and origin of goods in a bid to further accelerate exports to the Netherlands moving forward.

Source: VOV