Vinamilk licensed to export products to EAEU
18:10 | 19/06/2020

VGP - The Viet Nam Dairy Products Joint Stock Company (Vinamilk) has been licensed to export dairy products into the territory of the EAEU under the supervision of the Eurasian Customs Union.

Vinamilk licensed to export products to EAEU

Vinamilk is the first dairy company in Viet Nam to be successfully registered in the list of organisations and individuals allowed to export milk to the EAEU.

The EAEU is a common market consisting of five countries including Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan, and is an economic region with good growth figures.

With a gross domestic product (GDP) of US$1.9 trillion and a population of 183 million (in 2018), the 2015-established union is an area with great development potential.

With a system of 13 modern factories and 12 large-scale high-tech dairy farms meeting international standards, Vinamilk has passed the tests to meet the strict criteria of countries in the Eurasian Economic Union, becoming the first Vietnamese dairy firm to export dairy products to the union.

Vinamilk first marketed its soft drinks processed from tropical fruits which is the firm’s strength to consumers in Russia and Kazakhstan several years ago. The firm later introduced its dairy products to explore the market and they were favourably accepted.

Many years ago, Vinamilk had made its first approaches to consumers in Russia and Kazakhstan to introduce its soft drinks derived from tropical fruits, which are Vinamilk’s strength.

In addition, it was the company’s methodical step to survey the market and explore the tastes of consumers.

The EAEU market is considered to have a great demand for Vietnam’s strong commodities, including agricultural products.

Moreover, the free trade agreement between Viet Nam and the EAEU, which came into effect in late 2016, has opened up great trade opportunities between the relevant countries.

According to statistics, the import-export turnover between Viet Nam and the EAEU reached US$4.9 billion in 2018. In the first nine months of 2019, the figure reached US$3.7 billion and was estimated to have amounted to US$5 billion for the whole year, of which Russia accounted for the largest proportion with more than 90%.

Entering the market, Vinamilk is projected to cope with competitive pressure as Russia and other EAEU countries have highly developed dairy industries.

According to Mr. Mai Hoai Anh, Executive Director of International Business, Vinamilk has more than 20 years of experience in exporting its products to 53 countries and territories, and it will use its key products to efficiently exploit the EAEU market.

In the context of the economy in Viet Nam and the world suffering from the impacts of the COVID-19 pandemic, with an effective business strategy and great resilience in the opening months of 2020, Vinamilk has been rated by Forbes Vietnam as one of the “Top 50 best-listed companies” in 2020 for the eighth consecutive time.

Currently, it is the only Vietnamese company in the Top 50 largest dairy companies in the world in terms of revenue, and its primary goal is to make its Top 30 list in the near future./.

 By Vien Nhu

 

 

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