The strength of Vietnamese goods in the U.S.

Update: 10/16/2018

U.S. consumers favored Vietnamese agricultural products such as fruits and rice.

On 23.7, State President Truong Tan Sang and high level delegation VN has an official visit to the U.S.. We both Dr. Alan Phan look back on Vietnam-US relations as well as solutions to promote and expand trade relations between the two countries.

Who has 43 years of business experience in the United States, Dr. assess how trade cooperation Vietnam - America in the present time and future opportunities?

- Trade relations between the two countries Vietnam - the U.S. has increased significantly compared to the past. Since 2005, America has become the largest export market of Vietnam. Currently, Vietnam goods needed the U.S. market, it can be said is needed more than ever. The reason is that while Vietnam is the trade deficit with China is to the U.S. market is too good for Vietnam's products.

Although two-way trade turnover has increased in recent years, but the number of U.S. goods sold through Vietnam so not much can be said Vietnam was not a market in which U.S. investors are put off the interest and expectation.

It can be said, America is a very large market, vast and covers advanced products. America is really an open market, while Vietnam exploit this market is not much, in other words, the current trade cooperation, not commensurate with the potential of the two countries.

What do you think Vietnam should do to their products to the U.S. market, they must remain standing and be certain?

- The U.S. is leading industrialized world. Gross domestic product (GDP) in 2012 about 15 685 billion, accounting for about 20% of GDP worldwide. GDP per capita is about $ 49,965. In economic structure, services accounted for 79.7%, industry 19.1%, agriculture 1.2%. Exports and imports account for over 30% of U.S. GDP, the country of origin, the world's largest importer.

As I said, because the U.S. has such an open market, so chances are many of us also. Goods of Vietnam also exported to the U.S.. However, to be successful, my advice is to cooperate with them, they must know what your customers want and you have to meet the needs of consumers in the U.S., rather than taking the standard of consumer demand Vietnam to take away from exports.

So according to the doctors and the strength of Vietnamese goods in the U.S. market is what?

- We also have a few advantages that are products of agriculture and technology. But for the strength of this enduring vitality, we must improve the quality of competing products. As for the agricultural products of Vietnam, the U.S. market is also very encouraging signs. U.S. consumers are also popular Vietnamese agricultural products such as fruits and rice.

Also, I have a further advantage is that in the U.S. there are about 2 million people of Vietnamese origin living. It is a potential market, more accessible and popular home products.

Considered as the country imports more goods in Vietnam but the U.S. seems to have been deliberately trying to be difficult for Vietnam's exports, especially agricultural commodities?

- This does not entirely true. In fact, the U.S. does not have to be difficult for Vietnam but now the problem is that their rules are so common. None whatsoever of Vietnam, of China, even Europe must undergo strict control. Especially for agricultural products, food, hygiene and safety standards of the American food is very high.

As far as I know, in recent years, the U.S. special attention to the cases related to food safety issues in Vietnam and other countries where the media outlets published.

To protect consumers, the United States more closely control the quality of products. So to our products always respected, no other way, we must comply with their provisions. It is also improving competitiveness.

Dr, when diplomatic relations were upgraded, would create a strong wave of investment from the U.S. to Vietnam or not?

- That's very hard to say, because Americans do not eat the kind imposed. The U.S. business is not dominated by the government and they do not have political ties, so they need a reputable and quality. In fact, the economic institutions of other Vietnam with the U.S., there are still many barriers. Which is to remove barriers that Vietnam to become the market economy in the true sense.


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