Asia-Europe market boasts potential but difficulties remain

The space for Vietnamese goods in the Asia-Europe market is substantial. Trade turnover in the region reached $12.7 billion in the first eleven months of 2021, up 13.1 per cent year-on-year. However, at the “Forum on trade cooperation with partners in Asia - Europe in 2021” on December 22, many difficulties were highlighted, such as high costs and fierce competition. Only the top one or two brands can post significant profits, while others struggle. Products must be unique and outstanding to gain a long-term competitive advantage.