Vietnam’s export earnings from Thailand, a competitive market in the region, has increased sharply in recent years, with an annual average turnover of 4-5 billion USD.
Vietnamese star apples boast huge potential to enter Thai market. (Photo: vnexpress.net)
Hanoi (VNA) - Vietnam’sexport earnings from Thailand, a competitive market in the region, hasincreased sharply in recent years, with an annual average turnover of 4-5billion USD.
The Ministry of Industryand Trade said that Vietnam exported 5.5 billion USD worth of products to theneighbouring country in 2018, a year-on-year surge of 14.79 percent.
Vietnam’s shipments to Thailandbrought home 1.39 billion USD in the first quarter of 2019, up 5.9 percent fromthe same time last year.
According to Thailand’sCentral Group, besides seafood, vegetables, cashew nuts, coffee and pepper,Vietnamese fresh fruits have gained a foothold in the Thai market.Particularly, avocados, sweet potatoes and star apples boast huge potential to enterthe market.
Many Vietnameseindustrial products like phones and spare parts, computers, electronic productsand spare parts, and garments and textiles have been sold well in the country.
Experts said that asmade-in-Vietnam products only account for a small proportion of Thai imports,local businesses should study the Thai market carefully, and suggested theMinistry of Industry and Trade to negotiate with Thai authorities on reducingor partly removing trade protective measures.
They recommendedexporters to enhance cooperation with the Vietnamese people community inThailand, many of whom are owning supermarkets and convenience stores in thecountry. The move will make Vietnamese products become more popular among Thaipeople.
Inaddition, Vietnamese products will have more chances to put up for sale in Thaisupermarket chains as many Thai retailers are increasing their presence inVietnam.-VNA
Vietnam-Thailand trade is likely to hit 20 billion USD in 2020, but the target to keep the trade value in balance may not be met with Vietnam currently running huge trade deficit with the neighbouring country.
Vietnam earned more than 3.7 billion USD from exports to Thailand as of August 2018, up 21 percent year on year, higher than the country’s average of 16.7 percent, according to the General Statistics Office.
Vietnam earned some 3.3 billion USD from vegetable and fruit exports during January-October, up 15.5 percent from the same time last year, the Agro Processing Market Development Authority (AgroTrade) under the Ministry of Agriculture and Rural Development has said.
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Vietnamese star apples boast huge potential to enter Thai market. (Photo: vnexpress.net) 
