Nordic importers choose sustainable manufacturing and trading businesses
In addition to normal standards, products of Vietnamese businesses will be accepted by Northern European importers if they comply with sustainable initiatives; have environmental certification, social responsibility…
That is the sharing of Ms. Nguyen Thi Hoang Thuy, Vietnam Trade Counselor in Sweden who concurrently works in Northern European countries at the Seminar. “Participation of distribution corporations and international purchasing focal points in Vietnam (Viet Nam International Sourcing Expo) 2024” held in Ho Chi Minh City on April 12
According to Ms. Hoang Thuy, at the end of the Sourcing Fair 2023 event, large corporations in the field of furniture and household goods such as FH (Denmark), IKEA (Sweden), or key businesses importing food Asia such as Scanesia (Norway), East Asia (Sweden)… when participating in the fair, had a more or less positive view of the Vietnamese market in general and Vietnamese exports in particular.
Thanks to that, a number of contracts were signed right after the fair. Many new products have been introduced into the market, from frozen Vietnamese bread to grated green papaya… In addition, the group of intermediary brokerage businesses in the service sector also has some initial positive results such as Nordic Apiary and Frends have signed a Memorandum of Understanding with Vietnam’s FPT Group.
Share requirements and desires for Vietnamese businesses Ms. Hoang Thuy said, with IKEA, the furniture and furniture group chooses suppliers who share the same values and ambitions to create a positive impact for humanity and the planet. IKEA has developed the IWAY standard – Responsible Purchasing and Sourcing Code – which is a core premise in business activities for IKEA’s suppliers.
IWAY is how IKEA and its suppliers ensure responsible sourcing of products, services, materials and components by defining clear expectations and ways of working for suppliers, ensuring business activities are always for the environment, society, working conditions of workers and animal welfare.
Implementing IWAY standards is also a prerequisite and mandatory for all supplier partners and service providers when working with IKEA. The IWAY Code seeks to bring meaningful employment value to all workers and contribute to positive change in local communities throughout IKEA’s global value chain.
For FH, in addition to basic standards, finding suppliers with BSCI/Amfori (Business Social Compliance Initiative) certification is also an emphasized criterion.
For food businesses, products not only meet mandatory EU requirements such as product safety, pesticide residue, etc., but also must meet the very strict requirements of buyers. such as environmental certification, social responsibility…
“In general, for all product groups, the trend of more sustainable and responsible production and business is increasingly receiving attention. This trend involves many aspects of the supply chain, including working conditions, water use, waste management, emissions reduction, etc. Businesses’ products will be accepted by Northern European buyers if they comply sustainable initiatives,” Ms. Nguyen Thi Hoang Thuy shared.
Following the success of Sourcing Fair 2023, the Vietnam Trade Office in Sweden has been increasing promotion and marketing for the Sourcing Fair event through online and in-person activities to provide detailed information about the Sourcing Fair XNUMX. Business cooperation and investment opportunities in the Vietnamese market, opportunities to import high-quality Vietnamese goods with preferential tax rates brought by the Free Trade Agreement between Vietnam and the EU (EVFTA).
In addition, the Trade Office regularly organizes events to introduce Vietnamese goods such as product testing, encouraging Vietnamese people to prioritize trading and consuming Vietnamese goods, and organizing a number of seminars such as “Gateway to Vietnam” or “Vietnam – An Emerging Destination for Sourcing and Production”.