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The EVFTA Agreement increases the opportunity to export Vietnamese goods to the Danish market

01/08/2022

In order to support Vietnamese businesses to take advantage of the opportunity to boost their exports to the Danish market, right after the EU-Vietnam Free Trade Agreement (EVFTA) took effect, the Vietnamese Embassy in Denmark, in collaboration with the Vietnam Trade Office in Sweden (concurrently Finland, Denmark, Norway, Iceland and Latvia) published the book Things to know about the Danish market in 2020 and updated by the Trade Office as of the end of June 2022.

Trade experts believe that the EVFTA Agreement, including Denmark, officially put into effect from August 2021 has been bringing positive impacts to both countries, continuing to promote Vietnam-Denmark trade relations, helping to further expand the market for Vietnam's exports.

According to the Vietnam Trade Office in Sweden (concurrently with Finland, Denmark, Norway, Iceland and Latvia), Denmark is a developed industrial country with a high standard of living and government services.

Although the population is only about 5.8 million people, according to statistics in 2021, Denmark's GDP reached DKK 2496.6 billion (equivalent to USD 354.2 billion) and per capita income reached about USD 65,669.

Furthermore, as an open economy, Denmark supports a policy of free trade. Import-export accounts for nearly 60% of the total domestic budget (GDP).

In addition, Denmark's business environment is considered friendly, ranked by the World Bank as the country with the best business environment in Europe for 10 consecutive years and is always rated as one of the 5 countries with the best business environment in the world.

In particular, Denmark is not only the only Nordic country to establish a Comprehensive Partnership with Vietnam, but also one of Vietnam's potential trade partners in the European region because this is the gateway area connecting the North with the rest of Europe.

In addition, for many years, Denmark has implemented trade liberalization and market opening policies to create favorable conditions for enterprises to export to this market.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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