Nordic importers choose sustainable manufacturing and trading companies

In addition to the usual standards, Vietnamese enterprises' products will be accepted by Northern European importers if they comply with sustainable initiatives; have environmental certifications, social responsibility, etc.

That was shared by Ms. Nguyen Thi Hoang Thuy, Vietnam Trade Counselor in Sweden and concurrently in charge of the Nordic countries at the seminar "Participation of distribution corporations and international purchasing contacts in Vietnam (Vietnam 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 Asian food import enterprises such as Scanesia (Norway), East Asia (Sweden) ... when participating in the fair have more or less had a more 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 were introduced to the market, from frozen Vietnamese bread to shredded green papaya... In addition, the group of intermediary brokerage enterprises in the service sector also had some initial positive results, such as Nordic Apiary and Frends, which signed a Memorandum of Understanding with Vietnam's FPT Group.

Vietnamese businesses' products will be accepted by Nordic buyers if they comply with sustainability initiatives.

Sharing about the requirements and expectations for Vietnamese businesses, Ms. Hoang Thuy said that for IKEA, the furniture and interior products group chooses suppliers who share the same values and ambitions to create a positive impact for humanity and the planet. IKEA has built the IWAY standard - the Code of Conduct for Responsible Purchasing and Supply - as a core premise in business operations for IKEA suppliers.

IWAY is IKEA's way of ensuring responsible sourcing of products, services, materials and components with its suppliers by defining clear expectations and ways of working for suppliers, ensuring business operations are always environmentally, socially, with workers' working conditions and animal welfare in mind.

Implementing the IWAY standards is also a prerequisite and mandatory requirement for all suppliers and service providers working with IKEA. The IWAY Code seeks to provide meaningful work for all workers and contribute to positive change in local communities throughout IKEA’s global value chain.

For FH, in addition to the usual basic standards, finding suppliers with BSCI/Amfori (Business Social Compliance Initiative) certification is also an emphasized criterion.

For food businesses, products must not only meet mandatory EU requirements such as product safety, pesticide residues, etc., but also meet very strict buyer requirements such as environmental certifications, social responsibility, etc.

“In general, for all product groups, the trend of more sustainable and responsible production and business is increasingly of interest. This trend is related to many aspects in the supply chain, including working conditions, water use, waste management, emission reduction... The products of enterprises will be accepted by Nordic buyers if they comply with sustainable initiatives,” Ms. Nguyen Thi Hoang Thuy shared.

Following the success of Sourcing Fair 2023, the Vietnam Trade Office in Sweden has been promoting and marketing the Sourcing Fair event through online and direct activities to provide detailed information on business cooperation and investment opportunities in the Vietnamese market, and opportunities to import high-quality Vietnamese goods with preferential tax rates brought about by the Free Trade Agreement between Vietnam and the EU (EVFTA).

In addition, the Trade Office regularly organizes events to introduce Vietnamese products such as product testing, encourages Vietnamese people to prioritize business and consumption of Vietnamese products, and organizes a number of seminars such as "Gateway to Vietnam" or "Vietnam - An Emerging Destination for Sourcing and Production".

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