In a bid to boost Vietnam - Turkey economic ties, the Ho Chi Minh City Branch of the Vietnam Chamber of Commerce and Industry (VCCI-HCM) in collaboration with the Turkey Foreign Economic Relations Board (DEIK) organised the "Vietnam - Turkey Business Exchange” programme. The event attracted the participation of many Turkish businesses operating in various fields like food, fresh and processed agricultural products, machinery, logistics, paint and chemical. The meeting actually offered many opportunities for Vietnamese enterprises to seek business partners.
Since the two countries established official diplomatic relations more than 30 years ago, the traditional friendship and comprehensive cooperation between Vietnam and Turkey have thrived, especially in trade and investment. However, the development of bilateral economic relations has not really matched with potential relations.
Speaking at the meeting, Nguyen The Hung, Deputy Director of VCCI-HCM, said Turkey is the world's 17th largest economy with import turnover in excess of US$100 billion a year, which is expected to reach US$260 billion in 2013. This really is an important market for Vietnamese exports. It also serves as a gateway for Vietnamese goods such as rice, rubber, tea, apparel, footwear, electronic goods, fine-arts handicrafts to enter the Middle East and as a transit point to the EU market. Whereas Turkey can supply industrial materials to Vietnam such as steel billet, iron, construction materials, cotton, chemicals and auto parts.
Notably, in recent years, Vietnam has enjoyed a trade surplus with Turkey. Yarn is Vietnam’s largest export to the European country, earning US$276 million in 2011, an increase of 56.3 per cent over 2010, followed by mobile phones and accessories with US$121 million, apparels with US$209 million, and rubber with US$53 million. He said Turkish Airlines had opened direct flight routes from Istanbul to HCM City. This is really an important bridge for enterprises of the two sides to promote trade and investment.
Necati Abacioglu, Chairman of Turkey - Vietnam Business Council, said both Vietnam and Turkey are attractive investment addresses. With a young, dynamic population, a fast-growing economy, and a continuously increased GDP, Vietnam clearly brings more opportunities for business cooperation in all fields. As for Turkey, the important strategic location and highly productive labour force have made the country an investment magnet in the region. He stressed that "Promoting friendly relations and cooperation with Vietnam is of great importance in our policies, particularly in economy and trade. As Vietnam is believed to become a "Tiger of ASEAN", it holds a particularly important position in Turkey’s Asia Pacific Strategy, which primarily focuses on promoting economic relations between Turkey and this region."
Ismail Bitirim, Deputy Secretary General of the Turkey Exporters Association, said bilateral trade turnover between Vietnam and Turkey reached US$850 million in 2010 and US$1 billion in 2011. The value touched US$950 million in the first three quarters of 2012 and it will certainly exceed US$1 billion by the end of the year. Nevertheless, this figure is incommensurate with cooperation potentials given the scales of economies and foreign economic potentials of both sides. Vietnam and Turkey have similar strength in agriculture, apparel, mineral and mining. He said, for that reason, the two countries should strengthen trade and investment ties for effective support for mutual development. In terms of scale, the two countries should further enhance investment relations, capital flows, tourism - service ties, and technology transfer.
Ismail Bitirim said the trade surplus is now for Vietnam but he hoped the bilateral trade turnover will get balanced in the future.
My Chau
Vietnamese
