International buyers have great demand for Vietnamese agricultural products

According to data from the General Statistics Office, in the first 4 months of 2024, the country's total export-import turnover of goods reached USD 238.88 billion, an increase of 15.2% over the same period last year. Of which, exports are estimated at USD 123.64 billion, up 15% over the same period last year. The balance of trade in goods had a surplus of USD 8.4 billion. Regarding export structure, the group of processed industrial goods is estimated at USD 108.27 billion, accounting for 87.5%.

Mr. Nguyen Hoai Bao, Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), said that the export situation of wood and wood products in the first 4 months of the year showed positive signs; however, "it is just getting back on track."

"Buyers of the wood industry in main markets such as the US, China, South Korea, Japan, and Europe have used up their inventory and are slowly exploring the purchasing power of consumers. Along with the fluctuations of inflation and politics, trade barriers and applied laws make Vietnam's export of wood and wood products to these markets face many difficulties," Mr. Nguyen Hoai Bao analyzed and recommended Vietnamese businesses look for new markets such as the Middle East, Australia, and Canada. Therefore, participating in trade promotion fairs is an opportunity for Vietnamese export businesses to find new buyers and markets.

In the context that export activities have many positive changes and demand in many markets is recovering, to support businesses and export industries in Ho Chi Minh City in particular and Vietnam in general in seizing the opportunity, the Ho Chi Minh City Department of Industry and Trade will organize the Vietnamese Typical Goods Fair 2024 on May 8–11. The fair will focus on key groups of export goods, such as agro-fishery products; wooden furniture-handicrafts; food and drinks; rubber-plastic; garments, leather footwear, and bags; electronics-mechanics; and other service and supporting industries.

According to Mr. Le Minh Trung, Director of the Business Support Center (Ho Chi Minh City Department of Industry and Trade), the 2024 fair will be doubled in scale compared to last year, with 450 booths and the participation of more than 400 Vietnamese and FDI enterprises.

The event is expected to attract about 20,000 visitors and buyers. Of these, more than 80% of specialized customers are importers, traders, supermarket systems, and retail chains in major markets such as the US, Europe, Southeast Asia, China, Japan, and South Korea; representative offices for purchasing and finding suppliers in Vietnam; supermarket, import, and retail systems; and e-commerce platforms.

In particular, the event will be attended by 50 businesses and buyers from India and Russia with demand for agricultural products, food, construction furniture, garments, and electrical equipment.

Mr. Trung further informed that international buyers registering to participate this time have great demand for agricultural products, wooden furniture, and handicrafts, accounting for 58%. This is a great opportunity for agricultural, food, wooden furniture, and handicraft businesses in Ho Chi Minh City in particular and Vietnam in general.

"Through display and exhibition activities, the fair this time will create conditions for businesses to learn, improve, and innovate technology, enhancing long-term competitiveness. At the same time, encourage Vietnamese businesses to participate in the global production, supply, and distribution chain of goods and build close strategic cooperation relationships between Vietnamese manufacturing and export businesses and foreign distribution systems in both traditional export and e-commerce channels," said Deputy Director of Ho Chi Minh City Department of Industry and Trade Nguyen Nguyen Phuong.

According to Mr. Phuong, by participating in the Vietnamese Typical Goods Fair 2024, manufacturing businesses in Ho Chi Minh City in particular and Vietnam in general can take advantage of the ability to access and search world market demand and trends. From there, select and build appropriate development policies.

According to the Ho Chi Minh Department of Industry and Trade, the Vietnamese Typical Goods Fair 2024 will gather Vietnam's leading reputable export businesses, ready to meet the diverse purchasing needs of international buyers.

Within the framework of the event, 1-1 meetings, connections, and transactions with leadership representatives and purchasing departments from multinational supermarket chains such as Central Retail and MM Mega Market and e-commerce platforms such as Amazon and Alibaba will take place. This is an opportunity for businesses to expand their business and bring quality Vietnamese products to many consumers globally through modern supermarket chains.

Mr. Nguyen Dinh Tung, Chairman of the Clean Agricultural Products Association of Ho Chi Minh City, said that at the Vietnamese Typical Goods Fair 2023, the unit had 12 businesses participating and had connections and orders with international buyers. In 2024, the association will also gather 20 businesses to participate in introducing Vietnam’s clean agricultural and food products to international buyers.

"These programs help businesses expand into new markets. In addition to traditional markets such as Japan, South Korea, China, and the EU, businesses can also look for new markets such as Russia and India. Thereby, our businesses have the opportunity to access the market and consumer tastes, as well as better understand the technical barriers of importing countries," said Mr. Nguyen Dinh Tung.