Ample opportunities for exports to Myanmar

09:10 | 31/12/2016 Trade

(VEN) - Vietnam is currently Myanmar’s 10th largest trading partner. The two sides are actively promoting cooperation in 12 priority areas, including agriculture, industrial crops, fisheries, finance and banking, aviation, telecommunications, oil and gas, mining, manufacturing of electrical equipment, automotive manufacturing and assembly, construction, trade and investment.  

ample opportunities for exports to myanmar

Trade facilitation

Vietnam had 50 investment projects in Myanmar with total capital of up to US$693.3 million by August 2016. Two-way trade turnover by July 2016 reached US$299 million. Activities of the Association of Vietnamese Investors in Myanmar (AVIM) have been deployed with a number of outstanding projects such as Hoang Anh Gia Lai Complex in Yangon, BIDV branch and a direct flight route to Yangon.

Vietnam’s products have been quite popular in Myanmar because of good quality and low prices compared to Chinese and Thai goods. Many Vietnamese brands have successfully entered the Myanmar market such as Vissan’s sausages and canned chicken, Sa Giang’s dried noodles and prawn cracker, Nam My’s vegetable oil, Trung Nguyen Coffee’s G7, Cau Tre’s tea, Vinamilk’s milk and canned juices, Tan Quang Minh’s beverages, Dien Quang’s bulbs and Dai Dong Tien’s plastic products.

Investment and Trade Promotion Center of Ho Chi Minh City Director Pham Thiet Hoa said that trade promotion activities in Myanmar have been regularly organized by the Ministry of Industry and Trade as well as localities. The efforts have helped Vietnamese goods to win consumer trust and increase their market share in Myanmar.

Increasing exports

According to businesses, Vietnamese exports to Myanmar have faced many difficulties due to fierce competition from Thailand and China. In addition, long delivery time and high transport costs are among Vietnam’s problems.

Vietnamese exporters are advised to establish their niche on the market in Myanmar and focus on goods in high-demand. According to the Ministry of Industry and Trade’s Asia-Pacific Market Department, Vietnamese goods can be exported to Myanmar including motorcycles, bicycles and vans; machinery, equipment, tools and accessories; steel and steel products; chemical products; confectionery and cereal products; clinker and cement; plastics and plastic products; garments and textiles.

Export businesses also need to understand tax and customs policies in Myanmar, while conducting market research to know more about consumer tastes.

The Investment and Trade Promotion Center of Ho Chi Minh City coordinated with the Ministry of Industry and Trade’s

Vietnam Trade Promotion Agency, Vietnamese Embassy in Myanmar and concerned agencies to organize the

Vietnamese Goods Fair in Myanmar on December 8-11, 2016.

Thanh Thanh