Strengthening Vietnam – Ireland trade

VTV.vn - With a growth rate of more than 10% per year, the food and beverage (F&B) market in Vietnam is also assessed by Irish partners as having great potential.

Growing trade - the foundation of partnership

Trade relations between Vietnam and Ireland are witnessing strong and in-depth development, reinforced by the Vietnam – EU Free Trade Agreement (EVFTA). Ireland, through initiatives to promote bilateral trade, is affirming its commitment to expanding cooperation and increasing food exports to the Vietnamese market.

The EVFTA, which came into effect on August 1, 2020, has opened up many opportunities, helping Bord Bia – the Irish Food Commission – aim to introduce premium products to Vietnamese customers. And less than a year after the agreement came into effect, in 2021, Ireland exported more than 30 million Euros of food and beverages to Vietnam, an increase of 55% compared to 2020.

The food and beverage (F&B) market in Vietnam is also considered by Irish partners to be a potential market, with this industry achieving an average annual growth rate of 10%-12%. With an average population age of about 30 years old, Vietnam has an increasing demand for the diversity and quality of food, beverage and functional products produced according to modern, safe processes and with clear origins.

Dairy sector: a breakthrough industry

Europe is known as the largest dairy product producing region in the world , with a diverse, high-quality and nutritious product portfolio.

In the context of general trade growth, the dairy industry is a sector with a breakthrough growth rate. Europe is known as the largest dairy product producing region in the world, with a diverse product portfolio, high quality and rich in nutrition.

European dairy products are protected by food safety laws that are recognised as some of the most stringent in the world. EU food safety policies cover everything from farm to fork, ensuring safe, nutritious food with high standards of animal health and welfare, and clear information on origin and labelling. Ireland is ranked second globally in the Global Food Security Index (GFSI), which assesses 113 countries against 58 indicators relating to food safety and quality.

Ireland currently exports dairy products to over 140 countries around the world.

Ireland currently exports premium dairy products to over 140 countries around the world. In 2024, Ireland directly exported 1.6 million tonnes of dairy products, worth €6.3 billion. Of which, the Asian market accounted for 11% of Ireland's dairy exports, reaching 78,127 tonnes worth €237.7 million. This country is famous for products such as butter, cheese, fresh cream, milk powder, additives, flavourings and other dairy products.

Ireland's dairy product exports to Vietnam are expected to reach approximately 5,275 tonnes worth €27 million by 2024.

According to Ms. Margaret Butler, Dairy Sector Manager at Bord Bia, "Five years ago, the total output of dairy products exported directly from Ireland to Vietnam was just over 3,000 tonnes, while by 2024, this figure will be 5,275 tonnes - an increase of about 75%.

Recently in Hanoi, the European Union and Ireland officially launched the next major campaign: "Europe-Ireland Milk, Where Nature Meets Science " to Enhance Asia's Nutrition Landscape. This is a co-funded investment worth 3.73 million USD. The three-year campaign (until 2028) aims to improve Asia's nutrition infrastructure and build long-term commercial partnerships, focusing on key growth markets such as Vietnam, China and Singapore.

Ms. Deirdre Ní Fhallúin, Ambassador of Ireland to Vietnam.

Ms Deirdre Ní Fhallúin, Ambassador of Ireland to Vietnam, believes that Ireland’s grass-fed dairy model perfectly represents European values ​​of quality, safety and sustainability, and that this partnership will support Vietnam in ensuring a safe, high-quality food supply for its rapidly growing consumer base.

Source: https://vtv.vn/tang-cuong-thuong-mai-viet-nam-ireland-100251104221533554.htm