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Local firms aim for Hungary market
Local companies must supply higher quality products at lower prices to increase exports to the Hungarian market, a trade official has said.
Nguyen Luc, chief representative of the Southern Vietnam Craft Villages Association and director of VietAsia, said Vietnamese companies should target consumer goods, footwear, garments, shoulder bags and other leather products.
Hungary ’s footwear market, which has posted an annual growth of 3.8 percent, is expected to grow more rapidly as most shoes are imported.
Luc said other leather products, including shoulder bags, are also good sellers in Hungary . Retail turnover of leather products reached 80 million euros (127 million USD) a year.
Sales of garments in Hungary rose to 1.7 billion euros a year, an increase of 12 percent a year, ranking 17 th in the EU community, after the Czech Republic (16 th ) and Finland (15 th ).
Every year, Hungary imports 50.000 tonnes of garments worth 500 million euros (795 million USD).
According to Nguyen Quoc Dung, Vietnamese Ambassador to Hungary , two-way trade between Vietnam and Hungary is expected to hit 100 million USD.
He said that Vietnamese companies should set up a system of sales agents, distributors and a trade office to market their goods.
Exporters should create flexible pricing policies so that prices are competitive on the world market, he added.
Several Vietnamese businesses have plans to rent floor space at AsiaCentre in Budapest , said Do Khanh Quoc Bao, chief representative of AsiaCentre in Vietnam .
Several companies from Western Europe and Asia in the past few years have established their presence in Hungary .
To succeed in the market, Vietnamese companies should improve product quality, offer low prices and improve services, he said.
Vietnam exports garments, leather footwear, farm products, arts and handicraft items and electronics to Hungary . Its main imports from Hungary include drugs and a number of industrial goods.
VNA
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