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  • Advise businesses to be careful when exporting to Italy 08/22/2022

    Aug 22nd, 2022

    According to the Vietnam Trade Office in Italy, there are cases where the Italian partner does not pay for the remaining goods or does not deliver or uses a fake address… Therefore, Vietnamese businesses must pay attention when signing contracts and choosing Secure payment method. In particular, businesses need to regularly contact the Vietnam Trade Office in the host country to coordinate in verifying the accuracy of partner information to avoid fraud. The Vietnam Trade Office in Italy also pointed out that difficulties for Vietnamese enterprises when exporting to this market are technical standards, regulations on certification, packaging... Moreover, when cooperating with foreign enterprises In this situation, Vietnamese enterprises also face a complex legal environment, sometimes lacking transparency, clarity and efficiency. Not only that, products related to health, safety or the environment are subject to high technical regulations and standards, sometimes even higher than the basic requirements of the EU. In addition, the Vietnam Trade Office in Italy also noted that the trading tradition of indigenous people here is familiar with partners in Europe, South America and Africa, where many Europeans and Italians do business. so it is difficult to accept new partners. In order for Vietnamese businesses to penetrate deeper, the Vietnam Trade Office in Italy said: Italian is the official language and is used in all regions, so the exchange of letters with companies, especially the times of contact, is very important. The original system should be given preference in Italian. On the other hand, businesses should preview the holidays to proactively arrange a suitable time before each business visit because each locality will have holy holidays depending on the traditions of each region. Notably, the official currency of this country is Euro, USD is not widely accepted. Therefore, although the bank allows to open an account in USD, it must be converted to Euro when used. All commercial banks are allowed to conduct foreign exchange transactions. Therefore, the Vietnam Trade Office in Italy can provide and support Vietnamese businesses in terms of payment methods used, contract terms and commercial information sharing when negotiating and how to do it. effective risk avoidance. Statistics show that in the first 6 months of the year, export turnover between Vietnam and Italy reached 3.18 billion USD, up 14.8% over the same period in 2021. Among them, Vietnam's exports to Italy are 2.32 billion USD, up 26.6% over the same period in 2021. Vietnam's goods exported to this market are mainly machinery, equipment, telephones and equipment. components, computers and components, means of transport and spare parts, iron and steel, coffee, textiles and garments, seafood products... In the opposite direction, Vietnam imported US$861 million, down 8.2% over the same period last year and focused on mechanical machinery and equipment, plastic and plastic products, pharmaceuticals, furniture, cabinets, and equipment. textile accessories, beverages, alcohol.