11 July 2024

With the demand for imported goods in the US and EU decreasing, many Vietnamese companies are looking to the Thai market for their export products this year.

According to Mr. Puripan Bunnag, senior vice president of the Convention and Exhibition Department of Thailand, in the first half of this year, about 35,000 people from Vietnam visited Thai exhibitions and fairs to look for opportunities to sell their products, an increase of between 20% and 30% year- on-year.

Vietnam’s exports to Thailand reached US$4.3 billion, up 2% from the previous year. Crude oil, metals, machinery, vegetables and seafood are a few of the major imports. Puripan said Thai consumers favour Vietnamese agricultural products.

The vice chairman of the Vietnam Federation of Commerce and Industry in Ho Chi Minh City, Mr. Nguyen Huu Nam, stated that there are numerous challenges facing this year’s exports, including a decline in orders from the US and EU, two key markets.

Major Thai corporations, including Central Retail, CP and SGC, have helped Vietnamese exporters to Thailand. Agricultural products are very well received by Thai people, even though fruits, like mango, longan and lychee, are priced four to five times higher at Thailand’s Central Retail supermarkets than they are in Vietnam.

To market their goods in Thailand, 19 Vietnamese businesses, including King Coffee, Trung Nguyen Group, Napoli Coffee, Bibica (snacks), Acecook, and Vifon (instant noodles), have partnered with Central Group.

Vietnam has a trade deficit with Thailand. Last year, the country exported 7.5 billion USD worth of goods to Thailand, but imported 14.1 billion USD. “We have learned many marketing and packaging techniques to attract international customers from Thai companies,” the Vietnamese businessman said.