Vietnam plans to modernize and transform agriculture into a sustainable economy by 2030 and Sweden is among the countries where Vietnam hopes to increase its market share, Farm week writing.
Vietnam’s ambitious plan is to focus on producing high-quality products, adding value to meet market demands and improving rural infrastructure, and raising farmers’ living standards.
According to Vietnam’s Minister of Agriculture and Rural Development, Le Minh Hoan, the Southeast Asian country’s agricultural sector is aiming for growth of 2.5 to 3.0 percent per year until 2030 with agricultural productivity of 5.5%. Vietnam aims to increase the value between five and six percent per year and explore new potential markets for its products.
Commenting on the issue, Diep Van Ty, chairman of the Vietnamese trade association in Sweden, said that the biggest revenues from the EU-Vietnam Free Trade Agreement (EVFTA) are foodstuffs and data from the Vietnamese trade office in Sweden show that besides Norway and the United States, Vietnam is among the rice exporters.
Diep Van Ty is chairman of Swedish food importer East Asian Food AB and their brands are currently Sweden’s most popular exports.
Among the challenges to overcome are high shipping prices and supply disruptions, he said, while adding that Sweden must also be persuaded to try new products from Vietnam, as they are used to food imports from countries like Thailand.
To reduce costs and be able to supply products to Sweden, the Vietnamese trade association plans to build a major logistics center in Malmö.