Both countries have strength in agriculture sector, opening up many prospects for Poland enterprises to set up business in Vietnam and vice versa.
Vietnam is one of 14 important markets in the world for enterprises in the Polish food and agriculture sector. Moreover, Vietnam has been identified as a priority market for Poland’s future cooperation with wide open opportunities for both sides.
Statistics show that from 1993 up to now, two-way trade turnover between Vietnam and Poland has increased continuously and rapidly. From 2001 to 2006, two-way trade increased about three times, from 117 million USD to 330 million USD.
By 2016, this figure has reached nearly 790 million USD. It is forecast that two-way trade turnover between the two countries in 2017 can reach 1 billion USD, because in the first nine months of 2017, imports and exports between the two countries has reached nearly 700 million USD.
Poland is now Vietnam’s number 1 customer in Eastern Europe. In particular, Vietnam imported dairy products, meat and poultry products, apples and other agricultural products from Poland.
According to the Vietnamese ambassador to Poland, if compared to other sectors, agriculture is an area in which Vietnam and Poland are more promising.
In particular, when Poland becoming an important link in Europe, with the approval of the Europe – Vietnam Free Trade Agreement (EVFTA), Vietnam’s goods may pass through Poland to penetrate Europe. The prospect of cooperation of both sides in the coming time is very positive.
Recognizing the opportunities for cooperation between Poland and Vietnam in the field of agriculture, according to Activ Company, Vietnam is one of the markets for apples and apple juice that Activ wants to concentrate in the coming period.
Accordingly, Activ is setting up business with partners in Vietnam to expand the distribution channels of apple and apple juice products in Vietnam. This is also Activ’s strategy movement to catch the market when EVFTA officially comes into effect. EVFTA will be a trade agreement that brings together many opportunities for cooperation between the two countries in the field of agriculture, the sector that the two countries have strong advantages.
Therefore, in order to promote cooperation between the two sides, the two countries must strengthen the information connection so that the two sides can grasp the market and seize the partnership to build for future connections.
Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.