Dairy sector milks trade agreements for greater opportunities
Dairy sector milks trade agreements for greater opportunities
Thanks to steady development, future prospects remain upbeat for the Vietnamese dairy sector. Tran Van Trung, chairman of the Vietnam Dairy Association, talked about the issue in an interview with Hoa Quynh of Vietnam Economic News.
Trade promotion plays a key role for the dairy sector |
How has the dairy sector recovered from the pandemic?
Despite the prolonged pandemic, the domestic dairy market still reached VND113.7 trillion in revenues in 2020 and VND119.3 trillion in 2021. The country produced about 1.77 billion liters of fresh milk in 2021, up 4.5 percent compared to 2020, while powdered milk volume saw positive growth of 13.1 percent year-on-year to 151,500 tonnes.
Vietnamese dairy businesses have strengthened trade promotion activities and sought export markets. Currently, Vietnamese dairy products are available in 50 countries and territories. In 2021, the sector had a turnover of nearly US$300 million. Milk is a special product and export markets always put quality at the top. Therefore, Vietnam’s milk and dairy product exports to foreign markets are considered a great success.
Tran Van Trung, chairman of the Vietnam Dairy Association |
What are the opportunities for the dairy sector?
The Vietnamese dairy sector has achieved success in recent times. In addition to their efforts, we need to underline great support and efforts of ministries and departments, especially the Ministry of Industry and Trade in connecting markets and strengthening trade promotion activities. During the post-pandemic period, the dairy sector is making efforts to contribute to the recovery of the local economy. Its strategy is to gradually develop in a modern and synchronous direction in terms of raw materials, production and finished products, in addition to applying digital transformation in production, improving competitiveness to integrate more deeply into the regional and the global economy and meeting growing consumer demand.
The dairy sector is pinning high hopes on free trade agreements to which Vietnam is a signatory in order to maintain and expand exports. Free trade agreements are considered an important driving force of the dairy sector, contributing to bringing Vietnam’s milk and dairy products to the world. Businesses are willing to receive more support from ministries and departments, especially the Ministry of Industry and Trade, in order to take advantage of opportunities provided by free trade agreements.
How do you view the role of trade promotion for the dairy sector?
Trade promotion plays a key role for every sector. During the pandemic, trade promotion activities were maintained on digital platforms, helping businesses connect with partners, save costs and increase efficiency. In the recovery and development period, the dairy sector will strengthen both online and on-site trade promotion activities at home and abroad.
The Vietnam Dairy Association organized the third Vietnam International Milk and Dairy Products Exhibition (Vietnam Dairy 2022), helping businesses find new partners, expand markets and enhance cooperation in trade, investment and science and technology to improve their competitiveness towards sustainable development. The exhibition gathered 200 businesses, including many reputable domestic and international firms.
