Illustrative image (Source: VNA) Hanoi (VNA) – A Vietnam – Philippines business matching took place in Hanoi on September 6 to help Vietnamese enterprisesexplore opportunities to export goods and services to the Philippines.
The event wasco-held by the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (Vietrade), the VietnamTrade Office in the Philippines and the Association of Young Filipino-ChineseEntrepreneurs (Anvil Business Club). It was also part of a visit toVietnam by a group of Philippineimporters to seek partnership opportunities on September 5 – 8.
Present at theevent were more than 200 organisations and businesses from both sides. ThePhilippine group included 52 companies in furniture, design, construction,automobile parts, electronics and real estate.
Le Hoang Tai,Vietrade deputy director, said the Vietnam – Philippine trade reached 4.7billion USD last year, up 18 percent from 2017. The Philippines is currentlyVietnam’s fifth largest trade partner in ASEAN and has emerged as a potentialmarket for Vietnamese businesses in recent years.
In 2018,Vietnam exported about 2.2 billion USD worth of commodities to the Philippineswith key export items like coffee,seafood, textile and garment, construction materials, and machinery.
In the firstseven months of this year, the two-way trade rose more than 26 percent to over 3.2 billion USD, of which Vietnam’s exports were valued at 2.3 billionUSD, up 24.23 percent. –VNA
VNA
