Viet Nam should set out a specific strategy for accessing the Thai market as the two countries share similarities in product types, suggested Nguyen Thanh Huy, head of the Viet Nam Trade Office in Thailand.

Distribution and promotion plans should target specific groups of customers, he said in an interview granted to the Vietnam News Agency.

According to the official, his office has coordinated with agencies under the Ministry of Industry and Trade in trade promotion and market development, and the protection of rights and interests of Vietnamese businesses in Thailand.

Viet Nam’s export revenue to Thailand increased from US$5.3 billion in 2019 to $6.15 billion last year. In the first nine months of this year, it stood at $5.5 billion, up 26.7 per cent year-on-year.

Vietnamese products, especially coffee, fruit and handicrafts, have been favoured in Thailand. However, their market potential has yet to be fully tapped due to a lack of breakthroughs in product development orientations.

Given this, Huy said, the office will work to diversify promotion activities, with e-commerce platforms, social networks and technologies to be utilised.

The “Window to Viet Nam” project – a display area and information counter supporting Viet Nam’s trade, tourism, and investment promotion in Thailand – will be further expanded.

The Vietnamese goods week in Thailand will also be reformed and its new version will debut this year, he said, adding that workshops and exhibitions will focus on support to Vietnamese businesses in exploring local tastes, developing their brands, and penetrating niche markets. — VNS