Turkey is currently the second largest buyer of Vietnamese goods in Western Asia, but enterprises still need to overcome many barriers and improve themselves increase shipments to this market, experts have said.
A footwear factory in Vietnam (Photo: VNA)
Turkey is currently the second largest buyer of Vietnamese goods in Western Asia, but enterprises still need to overcome many barriers and improve themselves increase shipments to this market, experts have said.
Nguyen Thi Thu Thuy, Deputy Director of the Export Promotion Centre at the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency, said Turkey is a large economy with vibrant foreign trade and high consumption demand from a population of nearly 84 million. It ranks second, after the UAE, among Western Asian importers of Vietnamese goods, helping Vietnam continually record a trade surplus with this market over the past years.
However, Vietnamese goods account for just 0.5 percent of Turkey’s total imports, she went on, pointing out that geographical distance, high transportation costs, and the weakness in preservation technology are hampering commodities of Vietnam, especially agricultural products, from entering the market.
In the first two months of 2022, Vietnam’s exports to Turkey reached 189 million USD, up 16.3 percent year on year, according to the Ministry of Industry and Trade.
Thuy said this is a potential market, an important gateway to the Middle East, and a point of transit to the EU for many Vietnamese products, including rice, milk and dairy products, cashew nut, wood products, rubber, tea, fibre, fabric, garment, footwear, and electronic devices.
The Trade Office of Vietnam in Turkey noted Vietnamese goods are facing competition pressure from other countries’ rivals, as well as this country’s trade defence measures, which means that it is not easy to bolster exports to Turkey.
Businesses have to overcome many barriers, change their mindset, further improve product quality, and invest more in preservation technology, the office added.
Experts said that authorities should further encourage domestic firms to take part in trade promotion events, especially large-scale trade fairs and exhibitions, to help them introduce products and seek business cooperation opportunities./.
Source : https://en.diendandoanhnghiep.vn/much-needs-to-be-done-to-boost-exports-to-turkey-n33879.html
