A seminar on measures to boost exports to Hong Kong was recently organised at the Vietnam Exhibition and Fair Centre at 148 Giang Vo, Hanoi. This was incorporated with the 23rd Vietnam International Trade Fair (Vietnam Expo 2013).
An official from the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade said Hong Kong is a potential market for Vietnam’s exports. It is considered an important financial and commercial centre where many leading companies of the Asia - Pacific region are headquartered. In particular, it is also known as an investment and trade gateway for China. Thus, Vietnam can penetrate the Chinese market as well as other large markets in the region through Hong Kong. Besides, due to the lack of arable soil, Hong Kong must import much of food from other countries. This is a favourable condition for Vietnam to boost agricultural exports to this market.
According to the General Department of Customs, Vietnam’s export turnover with Hong Kong reached more than US$300 million in 2012, a sharp drop from previous years. Cameras and camcorders were added to the list of Vietnam’s top five exports to Hong Kong. Despite export increases, machinery and seafood still stood at the fourth and fifth positions. With a significant value rise of 21.3 percent, rice secured the sixth position in 2012.
Meanwhile, Vietnam spent nearly US$970 million on imports from Hong Kong in 2012, almost unchanged from the previous year. Major imports remained fabrics, materials for apparel, textile and footwear production, gemstones and precious metals.
As of November 20, 2012, Hong Kong accumulatively invested over US$11 billion in 700 projects in Vietnam, ranking sixth among investors in the country after Japan, Taiwan, South Korea, Singapore, and British Virgin Islands.
According to the Vietrade official, Hong Kong is known as the land of freedom and economic freedom where laws and policies are very open. Besides, Hong Kong has developed traffic and social infrastructure. This special administrative region is also home to one of the world’s busiest airports. Its commercial service, wholesaling and retailing systems are also developed; hence, increasing exports to this market is surely easier than other markets. Favourable geographic position and dynamic human resources are also good foundations for Vietnamese companies to approach other markets through this gateway.
However, experts at the seminar noted Vietnamese companies necessarily pick out suitable, prestigious trade fairs and introduced best products with low costs to earn the highest efficiency.
In addition, Vietnamese companies can approach international buyers by advertising their products on the website
www.hktdc.com or international magazines.
Mr Le Xuan Duong, an official at Vietrade, confirmed that Vietrade and its Hong Kong trade promotion partner in Vietnam will gather Vietnamese companies into a big group to register for national exhibition space in trade fairs in Hong Kong.
Ha Thu
Vietnamese
