Vietnamese enterprises are making every effort to boost future trade
activities in Latin America, which is considered their potential market
as many economies, such as the US and Europe, are yet to recover.
According to the American Markets Department under the Ministry of
Industry and Trade, Vietnam has established trade relations with all 33
countries in Latin America. Trading activities take place in all export
sectors with exchange turnover increasing continuously over the years,
reaching 5.5 billion USD in 2012. The figure is expected to grow in the
future.
According to Nguyen Duc Thang, head of the Market
Division of the Dap Cau Garment Joint Stock Company, Vietnam’s
enterprises come up against difficulties researching markets in Latin
American nations because of geographical distance and differences in
consumption culture.
Although the quality of Vietnam’s exported
goods is high, enterprises have not yet established their brands in the
region, Thang noted, saying that this has caused obstacles in creating a
position for Vietnamese products here.
Experts at the
American Markets Department said the department has worked with
related agencies to promote trade relations between the two sides, while
actively taking measures to solve difficulties faced by businesses when
surveying regional markets, helping them penetrate deeper into the
region.
However, at a time when the budget for trade
promotion is likely to be cut, enterprises need to be proactive to find
their own directions own as well as carefully survey markets in the
region to minimise risks.-VNA