Vietnam, Finland aim for higher agro-fishery tradeUpdate: 12/11/2014
(VOV) - A seminar on November 11 in HCM City discussed opportunities in the Finnish market and alternative ways to connect Vietnamese and Finnish businesses said Claudio Karjalainen, general manager of the Finnsea Consulting Company.
Finland is a highly lucrative export market for the Vietnam agro-fisheries sector and a gateway to the Russian and North European markets, Karjalainen said adding that each year the country imports more than EUR400 million worth of agro-fishery products.
Vietnamese agro-fisheries exporters have historically comprised just a 4% market share, leaving ample opportunity for future growth.
To pierce the demanding market, experts at the seminar said local businesses should conduct a comprehensive market analysis and study the tastes and preferences of local consumers and assess their product’s competiveness.
In addition, they suggested Vietnamese businesses could make inroads into the market through popular products such as canned and frozen food products, especially, basa, tuna, and shrimp.
Nguyen The Hung, deputy director of the Vietnam Chamber of Commerce and Industry (VCCI), HCM City branch said it has formulated a project to support exports of agro-fisheries products to the Finnish and North European market under the sponsorship of the Finnish Government.
The seminar aimed to provide businesses with market information, consumer demand in these markets and strengthen online support tools to help businesses seek partners effectively.
According to the VCCC-HCM branch, key exports to Finland have been coffee, rubber, footwear, and garments and textiles while imports from the market have been machinery, equipment, telecoms, plastics and materials.
The two-way trade turnover between the two countries reached more than US$171 million for the first eight months of the year.