Vietnamese firms urged to pay more attention to ASEAN market

Vietnamese businesses should pay more attention to ASEAN markets in order to make use of the advantages created by the establishment of the ASEAN Community, according to Vietnamese Ambassador to Thailand Nguyen Tat Thanh.

Talking to Vietnam News Agency reporters on the sidelines of the 29^th Diplomatic Conference now underway in Hanoi, the Ambassador said Vietnamese businesses have not paid proper attention to ASEAN markets in general and the Thai market in particular.

On the contrary, Thai firms, from big ones to small- and medium-sized enterprises, are very interested in ASEAN markets, especially Vietnam.

Processing seafood for exports

He noted that while several Vietnamese localities have established twin relations or affiliations with Thai counterparts, their relations have focused on cooperation or investment but neglecting the trading of goods.

Several trade promotion events that the embassy helped organize recently in Thailand have proved that there are many ways for Vietnamese goods to enter this market, which is a major one with 70 million people.

Ambassador to Indonesia Hoang Anh Tuan said following the conclusion of TPP negotiations, Indonesian investors are very interested in the Vietnamese market, as through Vietnam they can enter other markets of the Trans Pacific Partnership (TPP) agreement.

At the same time, the AEC framework facilitates trade and investment ties not only from Indonesia to Vietnam but also from Vietnam to Indonesia, the Ambassador said.

According to Head of the Vietnamese delegation to ASEAN, Ambassador Nguyen Hoanh Nam, the formation of the ASEAN Community has brought about a new change for ASEAN member countries.

In order to make full use of the advantages created by the Community, member countries should create better linkages in production and services, he said.

The Ambassador stressed that member countries must improve their investment environment to make ASEAN more attractive to outside investors.

Ambassador to Malaysia Pham Cao Phong observed that the ASEAN Economic Community (AEC) holds great potential, but it was formed at a time the region’s economy is suffering from many negative impacts and facing numerous challenges. Therefore, ASEAN countries should work together for development.

Vietnam and Malaysia should enhance economic ties on the basis of supplementing each other, in order to bring into play each country’s comparative advantages, he said.

Source: VNA