Exporters urged to meet growth target
Exporters urged to meet growth target
Exporters must both exploit new and traditional markets and introduce new products in order to meet the export growth target of 10 per cent this year, according to the Ministry of Industry and Trade.
For the traditional market of Japan, for instance, the ministry recommended exporters step up shipments of agricultural products, particularly rice.
Though Viet Nam is among the world’s largest rice exporters, it only sends US$20 million worth of the grain to Japan, accounting for a scant 3 per cent of Japan’s total rice import value.
Japan has become a lucrative market for Vietnamese exporters, given its annual demand for nearly 200,000 tonnes of rice and the fact that the price of imported rice in Japan is normally 10 per cent higher than the average price in other markets.
But Japanese consumer fastidiousness means that exporters must work hard to meet the country’s strict regulations on chemical residue.
The Viet Nam Trade Office in Japan said that local exporters should also improve the quality of rice to compete against their Thai rivals, which are also seeking to broaden their foothold in the Japanese market.
Chairman of the Viet Nam Food Association Truong Thanh Phong suggested local rice producers and exporters study Japan’s market trends and consumer tastes.
As for new markets, the industry and trade ministry recommended the United Arab Emirates, where there is high demand for Vietnamese products such as tea.
The UAE is the world’s second-largest tea importer, with a total import value of nearly $500 million yearly.
Currently, Sri Lanka is the country’s largest tea supplier, accounting for roughly 20 per cent of the UAE’s tea import volume.
Support from the diplomatic sector will help exporters reach these markets, foreign minister Pham Binh Minh said in the “Citizens ask – Ministers answer” programme broadcast recently on Viet Nam Television.
After the success of the Viet Nam-Latin America Forum last year, Minh said, the ministry planned to boost ties with Latin America as well as parts of the Middle East and Africa.
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