Ngo Khai Hoan, deputy director of the Ministry of Industry and Trade’s Asia–Africa market department, speaks at a conference on enhancing exports to the Middle East and Africa in HCM City on September 27 (Photo: VNA)HCM City (VNA) - TheMiddle East and Africa are promising markets for Vietnamese exports, heard at aseminar in Ho Chi Minh City on September 27.
Ngo Khai Hoan, deputy head of theMinistry of Industry and Trade’s Asia–Africa Market Department, said the twomarkets comprise 70 countries with a population of over 1.4 billion and havegreat demand especially for agricultural and seafood products.
The Middle East has high demand formobile phones and accessories, computers, farm produce, seafood, garment andtextile, footwear, and construction materials.
The region has harsh naturalconditions and so is unable to produce locally and imports 90 percent of itsagricultural and seafood products, offering a good opportunity for Vietnamesefirms, he said.
Vietnam’s trade turnover with MiddleEastern and African countries has gone up sharply in recent years to 18.5billion USD last year, with Vietnam’s exports accounting for 11.6 billion USD,he said.
The country accounts for a verysmall proportion of the region’s imports, he added.
Bui Thi Thanh An, Deputy Director ofthe Vietnam Trade Promotion Agency, said Africa and the Middle East’s importswere worth 480 billion USD and 807 billion USD, respectively, in 2016 and areexpected to reach 1.2 trillion USD and 1.5 trillion USD by 2020.
Therefore, there is plenty ofopportunity for Vietnamese firms to export to the markets.
In addition, their location adjacentto three continents of Asia, Europe and Africa could serve as an entry point tothe markets for Vietnamese goods, she said.
Given the fact that Vietnam’straditional markets are gradually getting saturated, enhancing exports to newmarkets is the right path for Vietnamese businesses, she emphasised.
However, Hoan said that companiesexporting to the two markets have encountered challenges in terms of payment,information, finding partners and fierce competition from other countries.
They need to understand theirregulations and Islamic cultural factors such as not consuming alcohol andrequiring food and foodstuffs to have Halal certification, he said.
Though the markets do not yet havehigh food safety standards, they are increasingly adopting trade barriers andso Vietnamese firms should focus on improving food hygiene and safety, headded.
He said the Ministry of Industry andTrade will step up trade promotion efforts, provide businesses with marketinformation and negotiate with countries in the regions to promote exports ofVietnamese rice and seafood.
An suggested Vietnamese companies shouldparticipate in trade fairs there to meet potential customers.
The seminar on promoting exports to the Middle East and Africa was held by the VietnamTrade Promotion Agency under the Ministry of Industry and Trade.
Ngo Khai Hoan, deputy head of theMinistry of Industry and Trade’s Asia–Africa Market Department, said the twomarkets comprise 70 countries with a population of over 1.4 billion and havegreat demand especially for agricultural and seafood products.
The Middle East has high demand formobile phones and accessories, computers, farm produce, seafood, garment andtextile, footwear, and construction materials.
The region has harsh naturalconditions and so is unable to produce locally and imports 90 percent of itsagricultural and seafood products, offering a good opportunity for Vietnamesefirms, he said.
Vietnam’s trade turnover with MiddleEastern and African countries has gone up sharply in recent years to 18.5billion USD last year, with Vietnam’s exports accounting for 11.6 billion USD,he said.
The country accounts for a verysmall proportion of the region’s imports, he added.
Bui Thi Thanh An, Deputy Director ofthe Vietnam Trade Promotion Agency, said Africa and the Middle East’s importswere worth 480 billion USD and 807 billion USD, respectively, in 2016 and areexpected to reach 1.2 trillion USD and 1.5 trillion USD by 2020.
Therefore, there is plenty ofopportunity for Vietnamese firms to export to the markets.
In addition, their location adjacentto three continents of Asia, Europe and Africa could serve as an entry point tothe markets for Vietnamese goods, she said.
Given the fact that Vietnam’straditional markets are gradually getting saturated, enhancing exports to newmarkets is the right path for Vietnamese businesses, she emphasised.
However, Hoan said that companiesexporting to the two markets have encountered challenges in terms of payment,information, finding partners and fierce competition from other countries.
They need to understand theirregulations and Islamic cultural factors such as not consuming alcohol andrequiring food and foodstuffs to have Halal certification, he said.
Though the markets do not yet havehigh food safety standards, they are increasingly adopting trade barriers andso Vietnamese firms should focus on improving food hygiene and safety, headded.
He said the Ministry of Industry andTrade will step up trade promotion efforts, provide businesses with marketinformation and negotiate with countries in the regions to promote exports ofVietnamese rice and seafood.
An suggested Vietnamese companies shouldparticipate in trade fairs there to meet potential customers.
The seminar on promoting exports to the Middle East and Africa was held by the VietnamTrade Promotion Agency under the Ministry of Industry and Trade.
VNA
