Hanoi (VNA) – Vietnamese businesses, especially exporters, are not taking advantage of the Canadian market as they should be, according to experts from the Industry and Trade Ministry’s Trade Promotion Centre.
Distance between the two countries, difficulties in dealing with import procedures and insufficient information about the market are leading to minimal bilateral trade, experts said.
Generating just 525 million USD in two-way trade last year, the Vietnamese share of Canadian imports remained small, they noted, with footwear, garments, agricultural products, seafood, plastic products and bicycles being the key export items to this market.
Canada could be a promising export market for Vietnamese enterprises if they accessed the market more carefully, experts said. As one of the three economies involved with NAFTA – a free-trade zone that ranks as the world’s largest single trading bloc, Canada could serve as a bridge to link Vietnamese goods with larger markets in the North American region.
To promote their exports to the market, Vietnamese enterprises should research Canadian tastes to choose suitable export items and offer appropriate export strategies, suggested the Trade Promotion Centre.
The centre said that domestic firms should work more closely with Vietnamese trade offices in Canada, which could provide them with updated market information, price fluctuations, trade policies, and information on the Canadian lifestyle to help them further penetrate the market.
Many Canadian enterprises haven’t paid enough attention to the Vietnamese market and don’t know which are the country’s advantage goods, it said, stressing the need for frequent trade promotion activities to advertise the country’s image and its diversified products.
Domestic firms should coordinate more closely in the production and export process, as Canada applies strict quality control standards on imported goods, especially food products, to protect consumers’ rights.
To improve the quality of products and match harsh competition from Chinese goods, Vietnamese businesses should take the initiative to participate in international trade fairs and exhibitions to get more contracts with Canadian importers.-Enditem
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