Fri 18-02-2022 09:53 AM
HANOI, 18th February, 2022 (WAM) -- There remain huge opportunities for Vietnamese enterprises to accelerate exports of agricultural and food products to the United Arab Emirates thanks to its strong demand for these items, experts have said.
As the regional trade and logistics centre, the UAE was considered one of the world's largest re-export markets for goods, including farm produce, said the Vietnamese Ambassador to the UAE, Nguyen Manh Tuan.
Currently, Vietnam exports US$200 million worth of agricultural products to the UAE each year. This figure was still modest compared to the UAE's annual import turnover at about $5 billion, Vietnam News Agency (VNA) reported.
Truong Xuan Trung, Vietnamese Trade Counselor in the UAE, said that to increase market share in the UAE, Vietnamese businesses should strengthen cooperation and attend large agricultural fairs and exhibitions in the UAE.
At the same time, government agencies needed to host forums and business exchange events to support local firms in finding suitable partners, verify information about partners and competitors. The State should also provide the firms with updated market information while completing the bilateral legal framework.
Meanwhile, Raphael Nagel, President of the Abrahamic Business Circle, said that to do business successfully in the UAE, businesses needed to establish representative offices in the country.
According to the Ministry of Industry and Trade, the UAE was a potential market for agricultural and food products from Vietnam. Thus, promoting the export of these products to the UAE market was one of the top priorities.
As part of its efforts, the ministry's Trade Promotion Agency (VIETRADE) teamed up with the Vietnamese Embassy and Trade Office in the UAE to organise the Vietnamese Pavilion at the Gulfood Dubai Fair 2022 with the participation of some 12 agricultural and processed food enterprises from Vietnam.
During the event, which runs from 13th-17th February, these firms showcased rice, cashew nuts, coconut, pepper, cinnamon, anise, milk and dairy products, fresh fruits and juice, among other items.
Director of VIETRADE, Vu Ba Phu, described the event which was held with over 5,000 booths, attracting nearly 100,000 visitors, as "an opportunity for Vietnamese businesses to seek new partners and diversify their markets in the context that they were finding it hard to export agricultural and aquatic products to traditional markets due to the impacts of the COVID-19 pandemic."