|Bilateral trade between Viet Nam and Indonesia had increased by 25 per cent in the past five years to nearly US$5.4 billion last year. — Photo VNA
HCM CITY (VNS) — Indonesia is a very promising export market for Vietnamese firms, especially for agricultural, fisheries, and food products, delegates told a conference in HCM City.
Speaking at the Accessing the Indonesian market towards ASEAN integration conference held by the Investment and Trade Promotion Centre of HCM City (ITPC) and the Indonesian consulate on Friday, Nguyen Anh Ngoc, deputy chairman of the Viet Nam-Indonesia Friendship Association, urged local firms to export items like rice, fruits and vegetables to Indonesia.
Ho Xuan Lam, deputy director of the ITPC, said with a population of 253 million and insufficient production, Indonesia had great demand for many products, especially rice and seafood.
The country was the fifth largest market for fresh food in the world, making it a good opportunity for Vietnamese food firms, he said.
Ngoc said trading and retail also offered potential for Vietnamese enterprises to capitalise on.
Bilateral trade had increased by 25 per cent in the past five years to nearly US$5.4 billion last year, he said.
Before 2010 Viet Nam had a trade deficit with Indonesia, but with an increase in exports in recent years, the situation has changed.
Viet Nam's key exports to Indonesia are mobile phones and accessories, iron and steel, machinery, textile and garment, and farm produce, and its imports include timber and timber products, drugs, and rubber-based products.
But others pointed out that Indonesia had complicated labelling regulations and tariffs. Besides, it was a fiercely competitive market, requiring Vietnamese businesses to study it carefully before putting foot there, Ngoc said.
Donna Gultom of the Indonesian Ministry of Trade said exporters should furnish documentation on product origin and quality and label food products in Bahasa Indonesia.
Abdulla Abdulrohman, director of Halal Viet Nam Export and Import Co Ltd, said as most Indonesians were Muslim, Halal certification was like a passport for Vietnamese goods to penetrate the market. — VNS