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In the context of a volatile world economic situation, enterprises in Binh Duong hope to be given opportunities to access and tap large-scale markets such as China, India...

Lots of potential

Realizing the potential of large markets, many trade promotion activities have been connected between enterprises in Binh Duong and billion-people markets such as India, China... With that support, province-based enterprises hope to soon penetrate large suitable markets, develop new sales tools and technologies, marketing and multi-channel sales.

Many Chinese enterprises participate in fairs, expanding their machinery market in Binh Duong

Phan Thi Khanh Duyen, Deputy Director of provincial Department of Industry and Trade (DoIT) said that over the past time, the industry and trade sector created opportunities for enterprises to access information on large-scale markets such as China, India and other countries. Over the past year, provincial DoIT organized and supported enterprises to participate in many trade promotion activities in markets. Since the Horasis India Meeting 2022, Binh Duong has organized many forms of trade promotion to create opportunities for the local enterprises to connect with this large consumer market.

Recently, the Business Association of High-Quality Vietnamese Products organized a sales seminar with new tools and technologies. At the seminar, a lot of information was provided for domestic enterprises to gain more experience and orientations on developing market shares in billion-people markets such as China and India. Nguyen Lam Vien, CEO of Vinamit Joint Stock Company in Thu Dau Mot city shared that Vinamit has had many years of accessing and developing its market share in China. This is a market with good purchasing power and consumers in this country are quite familiar with Vietnamese goods.

Mr. Vien said that Vietnamese enterprises have an advantage because Chinese people love fresh, dried, processed fruits... The current export turnover between Vietnam and China is about US$ 170 billion. The growth potential of these industries is forecast to increase further.

He also gave specific information about the consumption habits of Chinese people who do not like to eat vegetables, but like eating a lot of fruits. This is also the reason why China opened fences for Vietnam, the Philippines, Malaysia... to diversify the sources of imported fruits. Therefore, Vietnamese enterprises, especially those in agricultural products and fruits, need to pay attention to the above thing so that they are able to participate in the Chinese market. The official market has specific standards that enterprises need to grasp and comply with.

Regarding the Indian market, Cao Van Dong, Head of Binh Duong Wood Processing Association (BIFA)’s Trade Promotion Department said that India is one of the countries with the highest GDP growth rate in the world. With the population of about 1.4 billion people, India will create many opportunities for Vietnamese enterprises. “However, what we need is to carefully find out the customs, traditions, and aesthetics of our customers, tariff barriers as well as regulations on goods origin. We are making efforts to promote the development of the Binh Duong wooden furniture market in this country", said Mr. Dong.

Seizing opportunities

Nguyen Hong Quyet, Director of Kim Long netted muskmelon cooperative in Phu Giao district said that over the past time, the cooperative actively participated in domestic and international fairs and exhibitions to increase brand recognition, connecting trade with large markets having great potential, namely India, China... Enterprises in Binh Duong are eager to have long-term development cooperation to seek stable consumption markets through official channels.

At the Trade Promotion Conference to expand import and export markets in the Southeastern region at the end of 2023, Hua Ninh Ninh, Chairman of the RCEP Industrial Cooperation Committee – CEO of the China - ASEAN Trade Council said that enterprises can build sales points and booths at general markets and specialized markets in relevant cities in China, which can help further develop the Chinese market compared to with the participation in fairs and exhibitions. In addition, it is necessary to actively expand promotional activities for famous Vietnamese brands while increasing the number of promotional activities for Vietnamese products in China.

Reported by Tieu My-Translated by Kim Tin