Cashew nuts among top Vietnam's export products (Source: VNA)

HCM City (VNA) – Hong Kong (China) is one of the important gateways for Vietnamese products to enter other large markets in the region and the world, an official has said.

Ho Xuan Lam, Deputy Director of the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC), made the remark at a workshop which was jointly held in HCM City on January 31 by the Hong Kong Trade Development Council (HKTDC) and the ITPC.

Lam said Hong Kong is one of the potential markets that Vietnam will exploit in 2018, saying that Hong Kong is not only a destination market but also a bridge to bring Vietnamese products to other broader markets in Asia and the world as it is home to many large-scaled commodity trading floors.

Sharing Lam’s opinion, Ly Kim Chi, President of the Food and Foodstuff Association of HCM City, said Hong Kong is a potential market for Vietnamese agricultural products and foodstuffs.

Not just meeting the demand of Hong Kong people, Vietnamese products traded in the market will be distributed to many nations in the world thanks to a global network of retailers, Chi elaborated.

However, only a small volume of Vietnamese rice and dragon fruits are currently available in supermarkets in Hong Kong, Chi said, attributing the situation to a lack of trade promotions in and information about the market.

Meanwhile, Tina Phan, Director of the HKTDC Indochina, described Hong Kong  as an ideal market for Vietnamese exporters to expand their markets and connect with the regional and global supply chains since it is also a gateway to enter China, the world’s most populous nation.

According to Phan, Vietnam has a large number of high-quality products, particularly agricultural products and food, which have become favourite among foreign consumers. However, Vietnam’s exports have failed to match its potential due to limits in trade promotions in international markets and building brand names.

In order to increase Vietnam’s exports to Hong Kong, thus joining large supply chain, experts suggested Vietnam and Hong Kong increase trade promotion activities and share information about the markets and facilitate connections among their enterprises.

Vietnamese firms should actively participate in trade fairs and trading floors to access targeted clients and partners, the experts said, adding that they also need strategies to develop their brand names and and promote their products more effectively.-VNA