Hanoi (VNA) – The Philippines is a promising market for Vietnamesecommodities thanks to its strong demand for Vietnamese goods, according to aVietnamese trade official.
VuViet Nga, Commercial Counselor of the Trade Office in the Philippines, toldCong Thuong (Industry and Trade) Newspaper on March 14 that the country is apotential export market for Vietnamese commodities such as agriculturalproducts, construction materials, household electric goods and consumer goods.
Shehighlighted the country as a big consumption and potential market for Vietnamto widen its share in the coming time, saying the Philippines is the secondmost populated of the Southeast Asian nations with over 105 million people. Itis also among those in the region having recorded top growth in recent years.
Besides,as domestic production has not met the demand due to its unfavourable naturalcondition for agricultural produce, the country has to import numerousagricultural products for its consumption and processing. Moreover, Philippinepeople are open to imported goods, Nga said, adding these factors are givingVietnamese products advantages to compete in the market.
Theofficial also described the Vietnam Rice and Tra fish Festival 2018, thefirst of its kind held in the Philippines, as a highlight event to promoteVietnamese rice in particularly and agricultural products in general in themarket.
TheVietnam Trade Office in the Philippines, in collaboration with the Ministry ofAgriculture and Rural Development, will organise study tours for Vietnamese andPhilippine enterprises in the other country in March and April to boost tradeexchange between the two nations, she noted.
Inorder to conquer the market, Nga suggested Vietnamese exporters study morecarefully the Philippine market’s requirements and demands so as to developsuitable strategies. They should also enhance their reputation and product qualitywhile staying patient to gain trust from local enterprises.
Accordingto Nga, last year the Philippines imported 108 billion USD worth of products,including over 3 billion USD from Vietnam, accounting for 2.8 percent.-VNA