New Zealand remains promising market for Vietnam's exports: Insiders
Vietnam is trying to tap great potential to increase exports to New Zealand, a promising market where it has won only 1.7% of the local market share, held insiders.
Coffee is one of the major export products in New Zealand (Photo: VNA)
Hanoi (VNA) – Vietnam is trying to tap great potential toincrease exports to New Zealand, a promising market where it has won only1.7% of the local market share, held insiders.
In the first eight months of this year, two-way tradebetween reached 1.7 billion NZD (963.81 million USD), up21.4% year on year.
Upturn was seen in the revenue of many Vietnamese exports, including tea and coffee (52%), pottery and ceramics products (108%),paper and paper products (48%), steel (36.8%), and garment, footwear and accessories(22.8%).
According to the Vietnamese trade office in New Zealand, revenue of the majority of the exports has recorded double-digit growth, especiallyconstruction materials. It explained that along with an increase inexport volume, the prices of products in New Zealand has also risen.
The office forecast that Vietnam’s exports to the marketwill continue to grow as the two countries have been members of many commontrade deals which provide many tariffadvantages in the market, thus increasing the competitiveness of Vietnameseproducts.
Alongside, many businesses are considering switching their supply chains and seek more suppliers from Vietnam, especially in garmentand construction materials.
At the same time, thanks to the development requirementafter the COVID-19 pandemic and the recovering consumption and travel demands, economic cooperation and trade between Vietnam and New Zealand are likely to be lifted up in the future, according to the office.
However, it reminded exporters to make sure that theirproducts meet food safety requirements in this choosy market.
The office stressed the need for Vietnam to design a systematic andlong-term strategy to promote exports to the market, focusing on creating asmooth legal corridor for the export of agro-forestry-fisheries products, askingNew Zealand to continue to widen its door for Vietnamese farm produce andaquatic products, building value chains and improving food processing technologiesto enhance product quality, and strengthening trade promotion activities./.
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Coffee is one of the major export products in New Zealand (Photo: VNA) 
