The first virtual Vietnam Sourcing Expo on “Build and Home Décor” has been launched in Australia in the context that the trade relations between the two countries are thriving and more and more Australian enterprises are seeking to diversify sources of foreign supply.

The first virtual Vietnam Sourcing Expo on “Build and Home Décor”
is launched in Australia. (Photo: Trade Office of Vietnam in Australia)

The expo is among a series of event of the Vietnam Sourcing Expo, the largest and first ever held in Australia which runs from December 17 – 31. In addition to “Build and Home Décor,” there will be other expos on Vietnam’s agricultural and fishery products, textile-garment and footwear, healthcare and support for companies in central Vietnam to seek market and recover production.

The event brings together about 300 Vietnamese enterprises, 70 of which run a booth at Build and Home Décor Expo.

Head of the Trade Office of Vietnam in Australia Nguyen Phu Hoa, who is also the event’s organizer, said since the beginning of this year, the COVID-19 pandemic has severely affected trade and disrupted direct connection among international trade partners. In Australia, the pandemic-induced disruption has caused an increase in the number of Australian firms seeking new foreign partners to diversify their sources of supply, he said.

In response to this, the Trade Office of Vietnam in Australia has accelerated trade promotion activities, particularly for agriculture and labour-intensive sectors to help Vietnamese firms gain broader access to the largest market in the Oceania, Hoa added.

Vietnam’s exports to Australia rose by 2.1% year-on-year in the first 10 months of 2020, with significant growths reported in exports of fruits and vegetables (49.61%), confectionery and cereals (19.46%), wood and wood products (11%), and fishery products (4.78%), despite the fact that Australia’s domestic supply also increased sharply this year.