09:36 | 22/12/2016 Trade
(VEN) - The 14th Vietnam International Trade Fair (Vietnam Expo 2016) took place between November 30 and December 3 in Ho Chi Minh City. This year’s fair continued to be an important destination for domestic and foreign businesses to exchange information on cooperation as well as offered opportunities to promote trade and investment between Vietnam and countries around the world.
Vietnam Expo 2016 was organized by Vinexad with the sponsorship of Mobifone. This year’s fair brought together 520 businesses from 20 countries and territories such as the Republic of Korea (RoK), China, Indonesia, Japan, Chinese Taipei, the US, Italy, the Netherlands, Switzerland, India, Thailand, Nepal and Kenya with around 600 booths. Nearly 100 RoK businesses introduced products, services and technologies in accordance with the Vietnamese market such as LED bulbs, remote controlled lighting, welding machines, robotic technology, anti-theft devices for vehicles and household appliances, while 49 Indonesian companies displayed food products, pharmaceuticals, animal feed, fertilizers, household and kitchen appliances.
Ecotech Vietnam 2016 to introduce environmentally friendly technologies was a highlight in the fair. Overall solutions for all elements of the environment in the fields of management, protection, regeneration, application in production and life were introduced. Ecotech Vietnam 2016 responded positively to the national strategy and the national action plan on green growth.
The Hanoi Department of Industry and Trade also introduced a traditional pavilion with the message on conservation and development of craft villages in Hanoi. Many international visitors and southern businesses met artists from Hanoi’s traditional craft villages such as Bat Trang ceramics, Van Phuc silk, Cong Xuyen weave, Ngu Xa bronze casting, Chuyen My mosaic, Phu Vinh rattan, Dong Ky wooden furniture and Ha Thai lacquer. Hanoi’s handicraft businesses were provided opportunities to introduce products, exchange information on market demand and promote consumption in the fair, contributing to bringing Vietnamese goods to international friends.
Within the framework of the fair, an international conference chaired by the Ministry of Science and Technology with the theme on the role of new technologies for small and medium-sized enterprises in global integration, and a seminar chaired by the Indonesian Embassy in Vietnam with the theme on turning challenges into opportunities in fisheries were organized. In addition, Vinexad also held the Vietnam International Hardware & Hand Tools Expo 2016 with the participation of most of leading companies specializing in hand tool imports in order to meet the urgent needs of the market for support industry products.
President of RoK’s Bucheon Chamber of Commerce and Industry Cho Chun Yong said that Vietnam has become an attractive destination in the eyes of RoK investors. After many times participating in the Vietnam Expo, Bucheon’s typical exporters have achieved certain results.
Indonesian Ambassador to Vietnam Ibnu Hadi said that this was the first time Indonesian businesses participated in Vietnam Expo 2016 to showcase their products. Through the fair, the two sides signed cooperation agreements valued at millions of dollars. We expect to cooperate with Vietnam to organize a similar fair in Central Vietnam. Vietnam has become an important economic partner of Indonesia, marking by the strategic partnership signed in 2013, which outlines the directions for closer cooperation in politics, culture, education and economics. Trade between the two countries reached US$5.6 billion in 2015 and we are aiming to raise bilateral trade turnover on the basis of high economic growth between the two sides. In the first 10 months of 2016, this figure stood at nearly US$4.4 billion, including Indonesia’s exports to Vietnam of US$2.27 billion and imports of US$2.12 billion.
“The organization of fairs such as Vietnam Expo 2016 brings a significant meaning, contributing to promoting connection between the two markets, seeking more new partners, increasing investment opportunities and improving exports and imports for both parties. Through the fair, Indonesian businesses will better understand about the Vietnamese market and its customer demand, while being offered opportunities to meet potential partners. Vietnam will also be easier in meeting Indonesian partners, contributing to strengthening trade and investment between the two countries,” Indonesian Ambassador to Vietnam Ibnu Hadi said.