12:12 | 07/08/2016 Trade
(VEN) - The Vietnamese Ministry of Industry and Trade and the Central Group officially opened Vietnamese Goods Week in Thailand. This was the first event of its kind, which took place at Central World, the largest shopping center in Bangkok, on 10 July 2016. The event was expected to pave the way for Vietnamese goods to enter the Thai market.
Vietnamese Deputy Minister of Industry and Trade Ho Thi Kim Thoa (right) introduces Vietnamese goods to Thai retailers
At the event in Central World Bangkok, food and other high-quality Vietnamese products were presented and showcased in the 550,000sq.m shopping center. In addition to leading and globally recognized Vietnamese brands such as Minh Long porcelain and ceramics, Saigon beer, Dien Quang lamps, Highland coffee, Hoa Tho textiles and garments, and Binh Phu furniture, the event also showcased many small to medium food enterprises. These included food businesses such as Binh Chi, Hoan Chau and Tan Hue Vien, Tam Lan tea, Darkmark coffee, and Bao Minh confectionery.
At a workshop held at the event, Vietnamese companies discussed business support programs with food importers from the Central Group.
Ngo Thi Tinh, General Director of the Bao Minh Confectionery Joint Stock Company (Hanoi), said Bao Minh’s products had been distributed in BigC supermarkets for more than 10 years. Through this event and Central Group’s One Tambon One Product (OTOP) program that has seen successful growth in Thailand, Ngo Thi Tinh wanted to learn from Thai experiences and technologies in making traditional kinds of confectionery. She believed this information could help Bao Minh improve product quality and promote sales in the Thai market via Central Group’s retail chains.
Representatives from the Yen Hoang Company, a specialist in making Ben Tre’s confectionery specialties, said the company had exported goods to Laos, Cambodia, and Thailand. They stated their intent to increase exports to Thailand via Central Group’s facilities.
Dao Duy Tung, Deputy Director of the Darkmark Coffee Company (Hanoi) wanted to learn from Central Group’s experiences and understand the demand of Thai customers in order to boost exports to Thailand. This was also echoed by Quach An, a representative of the Tan Hue Vien Company Limited which produces pia cake and Chinese-styled sausage in Soc Trang Province. Bui Kim Thoa, Deputy Director of the Tam Lan Tea Company (Tay Ninh), also cited an interest in learning from Central Group’s experiences and understanding market demands.
Central Group Vietnam (CGV) Chief Executive Officer Philippe Broianigo cited that Vietnam annually exported about US$20 million worth of products to Thailand via Central Group’s retail chains. The group has signed a US$1.2 million contract with the Binh Phu Company (Vietnam) to import furniture for its six-star hotel in Bangkok. This was the first step showing the group’s interest in establishing long-term relations with suppliers. Philippe added that CGV would continue promoting Vietnamese goods in many other Thai localities with the greater participation of Vietnamese businesses in the future.
At the opening ceremony of the Vietnamese Goods Weeks, the Chairman of Central Group’s Advisory Council, Sudhitham Chirathivat, announced that the event offered a great opportunity for the group to make Vietnamese culture and products known to Thai people and show its determination to help Vietnamese businesses build their positions in the global market through Central Group’s worldwide distribution network.
It is clear that new opportunities have been created for Vietnamese goods to enter Thailand via Thai retail groups.
Prospects for increased exports
Vietnam currently faces an annual trade deficit of about US$5 billion with Thailand. However, there are opportunities to reduce this deficit in order to balance bilateral trade in the future.
First of all, Central Group’s cooperation with Vietnamese businesses in programs aimed at popularizing Vietnamese goods in Thailand will help boosting Vietnamese exports to this market.
Central Group currently manages a CGV export and supply office that works to support the popularization of Vietnamese goods in the global market. CGV represents 70 Vietnamese agricultural, industrial products and consumer goods suppliers, helping them promote exports to more than 20 countries. CGV also assists Vietnamese businesses in product development, quality management, and logistics services. Through CGV, domestic businesses can seek good opportunities to increase exports to Thailand and other markets.
According to the Vietnamese Ministry of Industry and Trade, 2016 will see ASEAN’s efforts to create a common market where the circulation of goods among member countries is tax-free, As a result this will facilitate the access of goods from regional countries into each other’s markets. Thailand has shown its willingness to join the Trans-Pacific Partnership (TPP) following the ratification by other TPP member countries. In the context of Thailand planning to join the TPP, both countries will benefit greatly from the trade deal in terms of tariff, as they will be equally treated. Tax reduction and exemption commitments under the TPP will facilitate access to the Thai market for major Vietnamese export products such as seafood, textiles and garments, leather, footwear, and furniture.
Thai Minister of Commerce Apiradi Tantraporn
Thai Minister of Commerce Apiradi TantrapoRN:
The Vietnamese Goods Week in Thailand offered great opportunities for Thai people to enjoy Vietnamese goods and culture. I have tried Vietnamese coffee and it was delicious. Trade between Vietnam and Thailand has grown rather well in recent years, and I expect this event will help further boosting bilateral trade