Thai firms seeking new opportunities in Vietnam

Vietnam

Bilateral trade between Vietnam and Thailand is expected to increase by 20 per cent per year to reach $15 billion by 2020, according to Nguyen Van Tuan, head of the International Relations Department of the Vietnam Chamber of Commerce and Industry (VCCI).

Speaking at a business meeting held by VCCI, the Thai Consulate and the Thai Trade Centre in Ho Chi Minh City, Tuan said that bilateral trade had grown rapidly in the past few years, reaching nearly $9.5 billion last year.

For the first half of this year, bilateral trade was $5 billion, with Thailand enjoying a trade surplus, he added.

The meeting was attended by a delegation from 20 Thai companies who were in Vietnam to seek business opportunities. The Thai enterprises specialise in producing health food, yarn, fabrics, clothes, and sea and inland transport vehicles.

Many of the Thai companies want to set up joint ventures with Vietnamese companies or are looking for importers.

Thaiwahknit Wear Co, which specialises in making sportswear, women’s blouses, functional fabric and accessories, golf wear and bike wear, for instance, is seeking importers and distributors to expand business in Vietnam.

Malinee Harnboonsong, commercial counsellor of the Thai Consulate and director of the Thai Trade Centre in Ho Chi Minh City, said many Thai businesses wanted to develop long-term cooperation with Vietnamese partners.

Tuan said Vietnam was currently Thailand’s second-largest trading partner in ASEAN. However, bilateral trade was still low compared with the potential of the two countries.

Vietnam’s trade deficit with Thailand remains high. He also called on business communities to make more effort to increase bilateral trade.

Vietnam imports plastic materials, automotive and motorbike spare parts, household electrical products, fuel, chemicals, and fabrics from Thailand. It exports telephones, crude oil, steel, seafood and computers to Thailand.



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[caption id="" align="alignleft" width="4368"] Vietnam[/caption] Bilateral trade between Vietnam and Thailand is expected to increase by 20 per cent per year to reach $15 billion by 2020, according to Nguyen Van Tuan, head of the International Relations Department of the Vietnam Chamber of Commerce and Industry (VCCI). Speaking at a business meeting held by VCCI, the Thai Consulate and the Thai Trade Centre in Ho Chi Minh City, Tuan said that bilateral trade had grown rapidly in the past few years, reaching nearly $9.5 billion last year. For the first half of this year, bilateral trade was $5 billion, with...

Vietnam

Bilateral trade between Vietnam and Thailand is expected to increase by 20 per cent per year to reach $15 billion by 2020, according to Nguyen Van Tuan, head of the International Relations Department of the Vietnam Chamber of Commerce and Industry (VCCI).

Speaking at a business meeting held by VCCI, the Thai Consulate and the Thai Trade Centre in Ho Chi Minh City, Tuan said that bilateral trade had grown rapidly in the past few years, reaching nearly $9.5 billion last year.

For the first half of this year, bilateral trade was $5 billion, with Thailand enjoying a trade surplus, he added.

The meeting was attended by a delegation from 20 Thai companies who were in Vietnam to seek business opportunities. The Thai enterprises specialise in producing health food, yarn, fabrics, clothes, and sea and inland transport vehicles.

Many of the Thai companies want to set up joint ventures with Vietnamese companies or are looking for importers.

Thaiwahknit Wear Co, which specialises in making sportswear, women’s blouses, functional fabric and accessories, golf wear and bike wear, for instance, is seeking importers and distributors to expand business in Vietnam.

Malinee Harnboonsong, commercial counsellor of the Thai Consulate and director of the Thai Trade Centre in Ho Chi Minh City, said many Thai businesses wanted to develop long-term cooperation with Vietnamese partners.

Tuan said Vietnam was currently Thailand’s second-largest trading partner in ASEAN. However, bilateral trade was still low compared with the potential of the two countries.

Vietnam’s trade deficit with Thailand remains high. He also called on business communities to make more effort to increase bilateral trade.

Vietnam imports plastic materials, automotive and motorbike spare parts, household electrical products, fuel, chemicals, and fabrics from Thailand. It exports telephones, crude oil, steel, seafood and computers to Thailand.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00