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ITPC Vice Director Cao Thi Phi Van speaks at the workshop. |
Speaking at the event, which was held by the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) on February 11, Vice Director of the center Cao Thi Phi Van said the U.S. is the largest export market of Vietnam, while Vietnam is among the 13 biggest goods suppliers of the American nation.
However, there is still great room for Vietnam’s products in the U.S. market, due to its big size as well as diverse demands and segments. According to Van, the ITPC will continue to promote trade promotion activities and introduce Vietnamese products to the U.S. market in 2020.
Erik Frankel, CEO of Vietsway - an online business selling products from Vietnam, said the U.S. is a key export market of many countries, including Vietnam.
In recent years, Vietnam's export turnover to the U.S. has continuously increased but the growth was mainly seen in the shipment of mobile phones and electronic components, textiles, footwear, and furniture which are from foreign-invested firms.
Meanwhile, Vietnam’s products of strength have yet to make inroads into this market, he noted.
However, trade experts warned that Vietnamese exporters should thoroughly study customers’ taste, goods’ suitability, prices and competitiveness of rivals to select direct or indirect export. They pointed to factors that can affect exports to the U.S. such as delivery time, connections with distribution networks and marketing strategies.
Kimberly Oanh, Operations Manager of Indo-Trans Logistics Corporation (ITL Corp) particularly mentioned the US’s strict regulations on goods’ origins, hence Vietnamese enterprises should be cautious and ensure the transparency of information related to origin of goods when exporting to the U.S.
Source: VNA