This is a proposal of Mr. Vu Ba Phu – Director of Vietnam Trade Promotion Agency (Ministry of Industry and Trade) at an online seminar “Vietnam – India: Trade promotion of agricultural products and processed food”, held on 5/7/2020. The seminar is part of a series of events organized on the internet environment between the two countries to provide updated information on the situation, market prospects and new business opportunities for the period during and after the pandemic. Covid-19. The event was co-organized by the Department of Trade Promotion and Trade of the Embassy of Vietnam in India in collaboration with the Chamber of Commerce and Industry of the Indian Importers (IICCI), attracting nearly 250 delegates and businesses. The two countries joined.
Many opportunities have not been exploited
For Vietnam, India is a large market in South Asia with nearly 1.4 billion people, with the potential to consume a wide variety of Vietnam's strong agricultural and food products such as fresh and processed fruits. variables, tea, pepper, rubber, confectionery, pangasius, cereal products, etc. However, the volume and import turnover of these products from Vietnam from India are extremely modest. with huge Indian buying power.
Statistics of the General Department of Vietnam Customs show that, in the first 3 months of 2020, the total two-way trade turnover between Vietnam and India reached US $ 2.453 billion. In particular, Vietnam's export turnover to India reached US $ 1,398 billion, Vietnam's imports from India reached US $ 1,055 billion. Among Vietnam's exports to India in the first three months of this year, coffee exports reached US $ 12.02 million, pepper reached US $ 10.36 million, seafood US $ 5.16 million, cashew nuts 4. , 86 million USD, rubber 21.67 million …
According to Vu Ba Phu, over time, Indian people and businesses have known more about Vietnamese agricultural products and specialty foods. For example, Vietnamese basa fish is raised according to the standards and has high competitive value, so it is favored by Indian consumers. Vietnamese dragon fruit is more delicious than dragon fruit from many other countries, so it is available at many supermarkets, wholesale markets, restaurants and hotels, even at luxurious wedding parties in India. However, many other Vietnamese products such as Northern Litchi, Rambutan from the major South Vietnam gardens, although they are on the list of delicious fruits with special flavors, are well known by many Indians. and favorites haven't yet paved the way into India.
Atul Kumar Saxena, President of the Indian Chamber of Commerce and Industry (IICCI), said many Vietnamese products have the opportunity to export more to the Indian market such as coffee, tea, and seeds. cashew, cocoa, spices, rice, sugar, coconut water, cookies, dragon fruit, products made from tamarind …
Towards new cooperation doors
Mr. Atul Kumar Saxena recommended that Vietnam should enhance the promotion and branding of Vietnam's strong export items to the Indian market more in the near future so that all classes of Indian people know. come and consume.
“Vietnam is famous for exporting many spices and food flavors such as black pepper, star anise, cardamom… Vietnamese businesses can further process and pack into masala spice products or Multi brands have clear brands. This item is in great demand in India. Pakistan's masala spices and aromas have long dominated the Indian market but are struggling because of the India-Pakistan trade ban. Therefore, the market for spices and food flavors in India is still open. Vietnamese companies can take advantage of this opportunity to enter the Indian market, ”said Mr. Atul Kumar Saxena.
For rice, Mr. Atul Kumar Saxena suggested that, with the third largest exporter of rice in the world, Vietnamese businesses should increase investment in exporting a variety of value-added products. From rice to rice paper instead of focusing on exporting raw rice. With coffee, Mr. Atul Kumar Saxena said that Vietnam has good 3-in-1 coffee production technology but many Vietnamese businesses do not have an appropriate strategy to reach and develop in the Indian market. . Therefore, Vietnamese coffee businesses need to calculate appropriate strategies and plans to succeed in the Indian market.
Speaking at the conference, Vietnam Ambassador to India Pham Sanh Chau emphasized that during the period during and after the Covid-19 pandemic, prioritizing market diversification is a vital step for businesses. India is a market that Vietnamese businesses need to target and focus more on because this market has increasing purchasing power and they have demand for Vietnamese food.
“If during the Covid-19 pandemic, many businesses had difficulties or even went bankrupt, the field of commodity agricultural products continued to grow. People may not fly, don't travel, don't go on vacation, don't go to the cinema but no one can't eat. And it seems people want to eat more, taste better and be more diverse. That is the potential for great cooperation between our two countries. Because both economies have huge markets. ”
According to Mr. Vu Ba Phu, in order to trade Vietnam-India agricultural products and food to overcome difficulties caused by the Covid-19 epidemic and develop more prosperously in the future, Trade Promotion Department and related agencies and organizations between The two countries need to maximize resources, take advantage of opportunities from the market opening commitments that the two countries have achieved, trade facilitation conditions, and timely remove difficulties for agribusinesses. The two sides did not back down because of Covid-19.
Mr. Vu Ba Phu also asked the Chamber of Commerce and Industry of Importers of India, with its important position and voice in India, to continue to accompany the Vietnamese government to implement the request procedure. The Indian government opened the market for a number of Vietnamese agricultural products, including longan, lychee, rambutans, etc. to India.
Speaking at the seminar, Mr. Vu Ba Phu said: “In the midst of struggling with the Covid-19 pandemic and trying to bring the national economy back to prosperity, the Vietnamese government is giving priority to Leading trade for agricultural products and foodstuffs. Trade promotion for this sector is not due to the impact of Covid-19, but has been suspended. In contrast, the Department of Trade Promotion is trying its best to create and deploy new trade promotion solutions based on information technology application, timely giving practical support to agricultural enterprises. Vietnamese food maintains regular and continuous connection with potential foreign partners in general and India in particular ”.
As planned, on May 19, 2020, Vietnam Trade Promotion Agency will continue to coordinate with Vietnam Embassy in India to organize an online trade seminar: “Trade promotion through community. Vietnamese people in India “, in order to promote diversified channels of market access and export connections for Vietnamese enterprises with potential Indian markets, Mr. Le Hoang Tai – Deputy Director of Promotion Department Trade information.
According to Vietrade
