Vietnamese, Thai enterprises connect to boost two-way trade

Friday, 2017-09-29 10:23:19
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A lot of Vietnamese and Thai businesses join the matching event in Ho Chi Minh City, on September 29, to seek for two-way trade promotion. (Credit: sggp.org.vn)
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NDO – A business matching conference was held in Ho Chi Minh City on September 29, gathering Vietnamese and Thai businesses that wish to seek cooperation potentials and boost two-way trade.

Co-hosted by the Vietnam Chamber of Commerce and Industry in HCMC (VCCI-HCM) and the Consulate General of Thailand in HCMC, the event is part of the activities among the business community in the two neighbouring countries, aimed at facilitating the goal of lifting the Vietnam-Thailand bilateral trade to US$20 billion by 2020.

The event attracted nearly 20 Thai manufacturers working in the food, cosmetics and healthcare industries to meet and explore the potential for cooperation with 30 of Vietnam's leading distributors, retailers and e-commerce units in these areas.

According to Vo Tan Thanh, Director of VCCI-HCM, Vietnam is Thailand’s second largest trade partner in the ASEAN region. Conversely, Thailand is Vietnam's largest trading partner in the region. In 2016, the total import-export turnover between the two countries reached US$12.54 billion, accounting for 3.6% of the total import-export turnover in 2016 of Vietnam.

The main export items of Vietnam to Thailand are smartphones and components, computers, electronic products and components, means of transport, spare parts and aquatic products. Meanwhile, Vietnam imports confectionery, grain products, electrical appliances and components, cameras, camcorders, automobile complete units and auto parts from Thailand.

In the first eight months of 2017, the total import-export turnover between Vietnam and Thailand reached US$9.65 billion, an increase of 11.2% over the same period last year.

Ureerat Ratanaprukse, Consulate General of Thailand in HCMC affirmed that Vietnam and Thailand are important economic partners and the leaders of the two countries have agreed to continue to promote comprehensive economic cooperation in the future.

On that basis, the enterprises of the two countries will promote trade and investment promotion activities, while strengthening their cooperation and mutual assistance in order to join the regional and global production and supply chain, contributing to enhancing the value of bilateral trade and facilitating the socio-economic development of each country.

Pham Thanh Kien, Head of HCMC’s Department of Industry and Trade, said that the southern economic hub is considered as a potential market for a lot of Thai products. In particular, local consumers highly praise Thai products for having good quality and quite competitive prices. In addition, Thailand also actively promotes trade promotion activities in the city.

Since the beginning of 2017, there have been seven Thai fairs hosted in HCMC. By the end of the year, there will have been a total of ten Thai events in the city, offering opportunities for Thai and Vietnamese businesses to meet, exchange, promote trade and expand cooperation across all fields.

Under the HCMC business matching, 115 sessions among the enterprises were conducted, generating numerous successful transactions between two sides’ enterprises, to be implemented in the near future.

Also within the event’s agenda, Thai businesses visited and worked in two leading retailers in Vietnam, namely MM Mega Market and Saigon Co-op Mart, to capture the diverse aspects of the domestic retail business and learn about the Vietnamese market and the behavioural patterns of local consumers.