Business

Vietnam, Pakistan hold online tea exchange

An online tea exchange between Vietnam and Pakistan took place in Hanoi on March 12.
An online tea exchange between Vietnam and Pakistan took place in Hanoi on March 12.

Theevent was organised by the African, West and South Asian MarketDepartment under the Ministry of Industry and Trade (MoIT), incoordination with Vietnam and Pakistan Tea Associations.

The onlineexchange aimed to help Vietnamese and Pakistani businesses overcome theshortage of information and establish initial, direct contact.

Duringthe exchange, businesses discussed recent cooperation between the twocountries in tea trading, and market trends in 2012, including prices,quality, methods of payment and contract implementation.
They pointed out advantages and challenges to tea imports and exports, and worked out solutions to boost tea trading.

Accordingto Head of the African, West and South Asian Markets Department Ly QuocHung, Pakistan imported 17,582 tonnes of tea, mostly green and herbaltea, from Vietnam in 2011, worth 32 million USD. In early 2012, it hasalready imported 3,100 tonnes of Vietnamese tea, mainly green, processedand dried tea, valued at 4.9 million USD.

Hung noted that MoIT hasdevised some measures to support Vietnamese businesses exporting toPakistan, including revising economic mechanisms, developing markets andreforming financial policies. It has helped businesses invest ininfrastructure, improve the quality of human resources, and increasetheir competitiveness in order to promote relations with the Middle Eastuntil 2015.

Last year, two-way trade between Vietnam and Pakistanrose by 33.9 percent compared to 2010. Vietnam’s exports to Pakistanreached 168 million USD and its imports rose to 156 million USD. Vietnammainly exports cloth, fibre, pepper, tea, seafood, rubber, steel andchemical products to Pakistan./.
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