HCM CITY — The HCM City Investment and Trade Promotion Centre (ITPC) is urging local businesses to take active part in an international trade exhibition to be held in Ukraine's Kiev City from 16-22 September.
The exhibition is titled "A path that links Eastern and Western markets".
At a meeting yesterday to introduce the Ukraine market and the exhibition, which is held by ITPC in collaboration with Thai Son General Co and N-M Ltd Co, Nguyen Thanh Xuan, deputy director of the centre, said the event would be a good opportunity for local businesses to strengthen their position in a potential market.
Businesses from several countries in Asia and East Europe, including Viet Nam and Ukraine, are expected to participate in the exhibition that will have a display area of 12,000sq.m, at the Rainbow Trade Centre.
The fair will showcase a wide range of goods including agricultural products like tea, coffee, seafood and processed foods, consumer goods, textiles and garments, furniture, cosmetics, medicines, electronic items, household appliances, and construction materials.
Xuan said both Ukraine and Viet Nam were newly emerging markets regarded as having great potential because of high economic growth in recent years.
Ukraine had a population of 45.4 million with a GDP of US$136 billion in 2010. Its strength in science and technology offered many co-operation opportunities for foreign businesses including Vietnamese, she said.
Ukraine has great demand for agricultural products like coffee, rice, fruits and vegetables as well as footwear, textiles and garments all of which are major Vietnamese export items.
Another advantage is that about 10,000 overseas Vietnamese live and work in Ukraine, providing a bridge between the two countries and contributing to wealth generation on both sides.
Viet Nam and Ukraine have enjoyed a long-term, traditional relationship of more than 60 years, and the two countries have forged co-operative ties in politics, culture, education, science and technology.
Bilateral trade was $255.7 million in 2010 and increased to nearly $300 million last year, which fails to match either the potential or the aspirations of both sides.
As of last year, Ukraine had 10 investment projects in Viet Nam with a total investment capital of $23.3 million, ranking 59th of 92 foreign investors. Viet Nam has invested in five projects in Ukraine. — VNS