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Local companies could further improve their utilization rate of the trade agreement to gain a larger share of the EU market.

Vietnam’s rice remains favorite in the international market despite fierce competition.

Local firms have no other alternative but to opt for higher product quality to ensure sustainable exports to the EU market.

There has been progressing in Vietnam’s rice export as it has matched the national strategy for the diversification of rice export markets.

The US Department of Agriculture (USDA) noted the market is fond of fragrant rice from Vietnam, including the ST25, one of the world's best rice varieties.

Such a performance has been a highlight of Vietnam’s exports in the five-month period, accounting for 8.55% of total turnover.

Higher competitiveness and product quality are essential for Vietnam products to penetrate markets with high standards for imports.

Rising global demand for food is offering opportunities for Vietnam’s farm exports this year.

Seafood currently makes up 18% of Vietnam’s total exports of agro-forestry-fishery products, with the US being the largest buyer for 23% of the total market share.

Vietnam would be the third-largest rice exporter in 2022, behind India and Thailand, with shipments of around 6.4 million tons.

2022 would remain to be a favorable year for trade, especially as enterprises have improved their resilience and several economic sectors continue to benefit from CPTPP, EVFTA, and RCEP.

Trade turnover this year could be well over US$667 billion, representing an increase of 22.4% year-on-year, which resulted in a surplus of $3 billion.

There has been a significant shift in the country’s approach to trade promotion, including the adoption of IT and digitalization in trading activities.

Such positive results come from the sector’s restructuring process that aims to meet the demands from export markets.

The export figure may rise up to US$43.5 billion in 2022.

The frequency of identity and physical checks would go up by 50% for coriander leaves, basil, mint, parsley, okra, peppers, and 10% for dragon fruits.