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| Tra fish processing for export |
Nguyen Minh Phuong from the
department highlighted the potential of the Middle East
market, saying that it boasts a huge purchase power, with standards which are
suitable for Vietnamese firms.
However, Phuong also underlined
obstacles hindering Vietnamese exporters from entering the market, including
unstable political situation in the Middle East, difference in culture,
language between Vietnam
and the region, as well as lack of a strategic and long-term strategy among
Vietnamese exporters.
Le Thai Hoa, Deputy Director of the
agency urged local businesses to develop long-term plans to enter the market by
developing a competent staff with good understanding of the regional culture
and language.
The Government approved a project on
the development of the Vietnam
- Middle East ties by 2025, Hoa said, adding
that the ministry is working to issue an action plan to implement the project.
Besides, the ministry has regularly
hosted trade promotion events to help domestic firms approach the Middle East market, while instructing its trade offices
in the region to keep Vietnamese exporters updated on the market’s situation
and opportunities, Hoa said.
Publicity campaigns have been
conducted to introduce Vietnamese goods to the market, with the hope of
entering the retailer network in the region, he added.
According to the ministry, trade
between Vietnam and the Middle East reached 12.8 billion USD in 2017, up 17.4
percent from 2016.
Vietnam’s main export goods are mobile
phones, computers and accessories, seafood, footwear, garment and textiles, fiber,
rice, pepper, wood products, cashew nuts, natural rubber, vegetables and fruit,
and coffee beans.
The country mostly imported materials
for domestic production, such as plastic, liquefied gas, electronic spare
parts, machines, and animal feed, from the Middle East.
Source: VNA