Exhibitions Advance Trade between Vietnam, Thailand

Exhibitions Advance Trade between Vietnam, Thailand

Currently, Thailand ranks second among ASEAN countries investing in Vietnam. "With 119 projects in Vietnam and investment capital of US$1,526.36 million, Vietnam is becoming an important trade partner of Thailand," said Trade Counsellor of the Royal Thai Embassy, Mr. Somkiat Saranapanichkul.

In an attempt to promote bilateral trade, the Thai government has organised more and more business missions for market surveys and trade fairs in both Thailand and Vietnam under the sponsorship of the Thai Trade Ministry. The “Thailand Fair 2004” set for August 20-23, 2004 in Hanoi aims at promoting trade, investment, tourism and cultural exchanges between the two countries. Three previous Thailand Fairs in 2001, 2002 and 2003 were highly appreciated by Vietnamese businesses and the fair has become an annual event.

This time, the Commercial Section, Embassy of Thailand in Hanoi, the Export Promotion Department, the Thai Trade Ministry, together with the Vietnam Advertisement and Trade Fair Company (VINEXAD), will organise the “Thailand Fair 2004”. According to Mr. Nguyen Thanh Than, VINEXAD General Director, some 80 Thai businesses will participate in the fair and display motorbikes, automobiles and parts, products for children, cosmetics, garments, foodstuff, health products and herbs and home utensils. The purpose of the fair this year is to help Thai producers and exporters access the Vietnamese market and to make Vietnamese consumers familiar with Thai commodities, thus enhancing the trade ties between businesses of the two countries.

According to the statistics of the Vietnam Trade Ministry, bilateral trade has increased from US$1,186.6 million in 2002 to US$1,595.08 million in 2003 (US$1,263.35 million in export to Vietnam and US$331.73 million in import from Vietnam). In the first half of 2004, bilateral trade stood at US$959.95 million, an increase of 27 per cent (US$788.31 million in export, an increase of 35.9 per cent, and US$171.64 million in import, a decrease by 2.36 per cent). The main imports from Vietnam are electric equipment and spare parts, coal, sanitary products, plastics, metals, chemicals, garments and footwear. Exports to Vietnam include fuel, steel, gas, cement, chemicals, leather, motorbikes and spare parts and machines.Mr. Somkiat Saranapanichkul believes that the Thailand Fair 2004 will increase bilateral trade in the remaining five months, reaching US$2 billion in 2004. Consequently, more Thai fairs will be organised in Vietnam in the coming years.

• Doan Phuong