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Bigger export market just next door
Earnings from exports to China could be higher if domestic companies were more knowledgeable about marketing, according to speakers at a conference held last Friday in Ben Tre province.
Agricultural products such as rubber, cashews, tropical fruits, wooden products, footwear, frozen and dried seafood, rubber and mineral resources, and industrial products are among key exports to China.
Nguyen Quang Minh, representative of the Viet Nam Trade Promotion Agency in HCM City, said with a population of more than 1.3 billion, China had a huge demand for many kinds of products, and was a potential market for Viet Nam.
He added that agricultural products such as rubber, cashews, tropical fruits, wooden products, footwear, frozen and dried seafood, rubber and mineral resources, and industrial products are among key exports to China.
Do Ngoc Chuong, deputy head of the Asia-Pacific Market Department, said with its high growth rate in recent years, China also had high demand for energy and other raw materials for production.
"Though exports to China have increased year by year, Viet Nam exports mostly raw products with low added value," Chuong said.
To promote exports to China, he said Vietnamese companies should be more active in seeking partners through Chinese trade associations and participate in international trade fairs in China.
In addition, local companies should increase promotion activities in China's major consumption centres, have more sale agents and set up joint ventures with Chinese partners to produce and distribute their products.
He also recommended local businesses to map out a long-term development plan and further study the Chinese market, understand its import-export regulations, and focus more on upgrading technology to enhance the competitiveness and diversity of export items.
In addition, businesses in the same sector should establish an association to protect their legitimate interests, Chuong said, adding that local exporters should work together to boost exports to China instead of competing with each other.
To reduce its trade deficit with China, Viet Nam should strengthen export of potential goods, said Chuong, who is also former Vietnamese trade counselor in China.
Last year, bilateral trade value between Viet Nam and China reached US$20.1 billion, an increase of 27.3 per cent over 2007.
Viet Nam exported $4.5 billion in product value to China and imported $15.6 billion in product value.
Businesses at the meeting suggested that the Asia-Pacific Market Department, as well as Vietnamese trade office in China, support them in market research and forecast activities so they could get better results.
Organised by the Viet Nam Trade Promotion Agency under the Ministry of Industry and Trade and the Department of Industry and Trade in Ben Tre province, the conference has attracted many businesses from the South including Long An, Tra Vinh, Tay Ninh, Ca Mau and the host province of Ben Tre.
VietNamNet, VietNamNews
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