Online matching holds promise for Thai investment in Vietnam
Online matching holds promise for Thai investment in Vietnam
Online business matching has become the best solution to develop Vietnamese-Thai trade in the context of the Covid-19 pandemic. In 2021, the Thai Embassy in Vietnam and Vietnamese authorities will continue promoting online business matching to further develop bilateral trade. Vietnam Economic News’ Hoa Quynh & Thu Thuy spoke with Thai Trade Counselor in Vietnam Pannakarn Jiamsuchon about bilateral trade.
Thai Trade Counselor in Vietnam Pannakarn Jiamsuchon
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What is your assessment of Vietnamese-Thai trade in 2020?
The Covid-19 pandemic has greatly affected international trade in 2020, and Vietnamese-Thai trade has decreased significantly. We failed to reach the US$20 billion bilateral trade target set by the two governments for 2020. We are endeavoring to organize trade promotion activities to increase trade between the two countries in 2021, when the pandemic is expected to be better controlled.
Could you tell us about online business matching between Vietnam and Thailand?
In 2020, we held a lot of bilateral trade promotion and exchange activities of different scales. We worked with Vietnamese organizations to organize Thai exhibitions in Vietnam, while in Thailand, the Department of International Trade Promotion (DITP) under the Thai Ministry of Commerce, and the Office of Commercial Affairs of the Thai Embassy in Hanoi organized a lot of online business matching activities to which Vietnamese businesses from agricultural and industrial areas were invited. Online business matching has become a highly efficient trade promotion solution and method, creating the most favorable conditions for businesses to meet and exchange new products, as well as providing new opportunities for Vietnamese and Thai importers to access each other’s markets.
While the pandemic remains complicated worldwide, online business matching is the best solution for importers and exporters to contact each other. The plan will have many such activities in 2021. In particular, we will launch other modes of online business matching like the mirror-mirror. Apart from online business matching by enterprises, we will bring Thai products to Vietnam for introduction to Vietnamese importers.
While the pandemic remains complicated worldwide, online business matching is the best solution for importers and exporters to contact each other
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What will the Thai Ministry of Commerce and the Office of Commercial Affairs of the Thai Embassy in Hanoi do to help Vietnamese and Thai businesses access each other’s markets in 2021?
In 2021, we will be holding a Mini Thailand Week exhibition in Hai Phong and a Top Thai Brands exhibition in Hanoi, at which mirror-mirror activities will be held.
The Thai government and the Office of Commercial Affairs of the Thai Embassy in Vietnam always support bringing Vietnamese products to Thailand. We will introduce Thai importers to Vietnamese products so more Vietnamese goods can reach the Thai market. Vietnamese exports to Thailand experienced a growth higher than that of Vietnamese imports from this market. Vietnamese businesses can promote vegetable, fruit and processed farm produce exports to Thailand. Thai consumers are very fond of Vietnamese cuisine, so Vietnamese businesses can open and run restaurants in Thailand after the pandemic is controlled.
What do you expect from bilateral economic cooperation promotion in 2021?
In 2020, Vietnam signed free trade agreements (FTAs) with many countries around the world, which will help Vietnam attract more foreign investors. Thai businesses have highly appreciated this and are greatly interested in expanding investment in Vietnam. While current Thai investors in Vietnam want to expand their investment in the country, potential ones are looking for investment opportunities in the country to benefit from the advantages provided by FTAs that Vietnam signed.
