09:19 | 06/09/2017 Trade
(VEN) - The Philippines is considered a promising potential market for Vietnamese commodities thanks to favorable geographic location and strong demand for Vietnamese goods.
According to the Vietnam Trade Office in the Philippines, the Philippines is a potential export market for Vietnamese commodities such as agricultural products, household goods and consumer goods. The requirements for quality and kind of goods are similar to those of Vietnam because domestic production has not met the demand. Thanks to preferential tariffs provided by commitments within the ASEAN Economic Community (AEC), Vietnamese goods have advantages that make them competitive in the Philippines.
In the first seven months of this year, export turnover of Vietnamese goods to the Philippines reached US$1.52 billion, an increase of 20.9 percent compared to the same period in 2016, mostly due to exports of rice, seafood, iron and steel, chemical products and fibers.
The Philippines is also well positioned to be one of Vietnam’s largest rice importers. Vietnamese bids have won deals to supply 175,000 tonnes of rice to the Philippines at a tender on July 25.
To promote Vietnamese goods in the Philippines and introduce them directly into the distribution system, the Ministry of Industry and Trade in coordination with the JG Summit Holdings, Inc held a trade fair at the Atrium of Robinsons Place in Manila on July 27 and 28. In addition, a Vietnamese Goods Days was held at Robinsons Supermarket in Robinsons Place from July 27 to 30.
Among the items that drew the attention of Philippine visitors to the events were foodstuffs, ceramics, handicrafts, coffee, agricultural products, garments, rice, noodles and rolls. According to the Hanoi Promotion Agency, the large number of Filipino consumers at the events provided opportunities for businesses to introduce their products, seek partners and directly deal with leading importers, thereby promoting Vietnamese goods to large supermarket chains.
In addition to a showcase of food, handicrafts, clothing, and consumer products, Robinsons Supermarket’s Sales Department met with Vietnamese business representatives to discuss quality standards for each item and the requirements for introducing imported goods into the supermarket system.
The Vietnamese business delegation also joined the Vietnam-Philippines Business Forum with the participation of more than 100 enterprises. At the forum, businesses of the two sides had a detailed discussion of business information, opportunities for cooperation and promotion of business cooperation in the near future.