Australian retailer eyes Vietnamese consumer goods

Tuesday, Sep 09, 2014 15:43

A seafood processing plant in Viet Nam. Viet Nam expects to export goods including seafood, textiles and garments and footwears to Australia through Coles retailer. — Photo

HA NOI (Biz Hub) — Melbourne-based Coles Group Ltd, Australia's second largest retailer, is aiming to sell Vietnamese consumer goods in its home market, including garments and textiles, footwear, seafood and agricultural products.

Dau Tu (Investment) newspaper quoted officials of the Viet Nam Trade Office in Australia as saying they would co-operate with Coles in organising a Vietnamese Goods Week in the Coles supermarkets of some big cities.

The latest figures from the General Department of Vietnam Customs show that total bilateral trade turnover between Viet Nam and Australia in the first half of 2014 was US$2.87 billion, representing a 28.4 per cent year-on-year increase. Of this, Vietnamese exports contributed $1.89 billion, representing a 24.3 per cent year-on-year increase.

Coles belongs to the Wesfarmers Ltd conglomerate, which also owns other famous business companies in Australia such as Kmart, Target, Bunnings and Officeworks. In 2013, Coles earned a total of AU$34.1 billion (US$31.7 billion) in revenue. — VNS

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