Sunday, 17 Feb 2019

Farm produce exports help Vietnam balance trade with Thailand

Updated at Saturday, 09 Jun 2018, 16:54
The Hanoitimes - An array of Vietnamese agricultural products have been exported to Thailand through the Thai supermarket system, which has helped Vietnam gradually narrow trade deficit with the neighboring country.
Exporting Vietnamese agricultural products to Thailand’s supermarkets
According to wholesale chain MM Mega Market Vietnam, formerly known as Cash and Carry, 100 tons of Vietnamese agricultural products, including yellow sweet potato, purple sweet potato, dragon fruit, dried fruit, and rice paper, have recently been exported to a system of 700 Big C supermarkets in Thailand. 
This is the first order of Vietnamese farm products that has been exported to Thailand’s supermarket chains since MM Mega Market was granted an export license in late 2017.
Together with MM Mega Market, Big C Vietnam (Central Group) is also actively implementing programs in order to promote the export of Vietnamese goods to the Big C supermarket chain in Thailand.
The Vietnam Goods Week has been held annually in Bangkok over the last three years, with the 2018 event scheduled for August 22-26.
In the Central Group system in Vietnam, there is a department called “Central Global Sourcing Vietnam”, which is responsible for purchasing and exporting Vietnamese goods. 
Vietnamese litchi attracts Thai consumers
Vietnamese litchi attracts Thai consumers
The department fosters partnerships with 200 Vietnamese suppliers and exports Vietnamese farm produce to a number of markets, such as Thailand, France, Italy, the United States, and the African region. It not only performs the task of collecting products, but also orientates farmers’ production so that their products will be accepted in the import markets. 
Le Thi Mai Linh, Executive Vice President of Public Relations and Corporate Social Responsibility Department at Central Group Vietnam, said that the 2018 Vietnam Goods Week will continue to connect the collection department with Thai retailers, focusing on the group of agricultural products, towards increasing the export revenue of Vietnamese goods to the Big C supermarket chain in Thailand. 
This activity is expected to help Vietnamese agricultural products become increasingly known to native consumers.
Contributing to trade balance
In recent years, Vietnam’s trade deficit with Thailand has seen constant growth. According to the Ministry of Industry and Trade (MOIT), the two-way trade turnover in 2017 reached approximately US$15.28 billion, up nearly 22% compared with 2016.
Vietnam ran a trade deficit of around US$5.71 billion with Thailand in 2017, up 10.7% year-on-year. In the first four months of 2018, with a trade deficit at US$ 1.75 billion, Thailand remained Vietnam’s largest trade deficit market in the Southeast Asian region.
In its efforts to support the export of Vietnamese goods to Thailand, the MOIT will continue to organize the Vietnam Goods Week programs in Thailand in the future. 
Moreover, the ministry will actively negotiate with the Thai side on opening the door to more fruits and vegetables of Vietnamese origin, while encouraging businesses to organize trade promotion activities in Thailand by themselves, thereby contributing to boosting exports and mitigating the trade deficit pressure.
Tuan Minh
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