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Total trade between Hong Kong and Viet Nam reached $14 billion last year, an increase of 11.7 per cent from 2013. — Photo apttravel.com
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HCM CITY (Biz Hub) — Vietnamese businesses should be more proactive in joining Hong Kong's year-round trade events, including exhibitions, the deputy executive director of the Hong Kong Trade Development Council said at a meeting in HCM City on Wednesday.
Benjamin Chau, who is visiting the city to meet government officials, trade associations and industry stakeholders, said he hoped to strengthen collaboration between Hong Kong and Viet Nam during his visit.
Chau said that joining fairs would help Vietnamese companies form partnerships and gather the latest market intelligence.
Last year, more than 33,600 exhibitors from 84 countries and regions as well as over 700 buyers from 200 countries and regions visited the Hong Kong council's 30 trade fairs, up 3.4 per cent year-on-year.
However, fewer than 50 exhibitors from Vietnam joined fairs, while the figure was 500 from Thailand, 800 from Japan and 700-800 from India.
"Vietnamese suppliers should be proactive in seeking buyers rather than letting buyers find them," Chau said. "The Vietnamese businesses often don't take part in fairs again if did not find partners or buyers first time."
However, companies do not go to fairs to just collect orders. They also receive customer feedback that allows them to adjust their price and quality strategies, he said.
Chau said that many international buyers, especially from the EU, had increasingly sought goods from Vietnam through the council's fairs.
The HKTDC organised more than 30 exhibitions, from which form the 10 largest marketplaces of their kind in Asia, including 4 that are the largest in the world such as the Hong Kong Gifts & Premium Fair, Hong Kong Watch & CLock Fair, Hong Kong Electronics Fair and the Hong Kong International Jewellery Show cum the Hong Kong International Diamond, Gem & Pearl Show.
Trade relations
Chau said trade ties between Hong Kong and members of ASEAN, including Viet Nam, had been fruitful for many years and were set to become more robust in future.
In 2014, Viet Nam was Hong Kong's 12th largest trading partners. Total trade between Hong Kong and Viet Nam reached $14 billion last year, an increase of 11.7 per cent from 2013.
Hong Kong's total exports to Vietnam amounted to $8.6 billion, up 14 per cent. Major export categories included telecommunications equipment and parts, meat products and fruit.
Vietnam exports to Hong Kong telecommunication equipment and parts, semi-conductors, electronic valves and tubes as well as footwear. The total amount last year was $5.4 billion, up 8.2 per cent. — VNS