A delegation of 44 Thai companies active in the food industry has met with about 60 executives of Vietnamese companies in HCM City on January 30. — VNA/VNS Photo Phuong Vi

HCM CITY (Biz Hub) — A delegation of 44 Thai companies active in the food industry has met with about 60 executives of Vietnamese companies in HCM City to exchange information and exploit business opportunities.

Nguyen The Hung, deputy director of the Viet Nam Chamber of Commerce and Industry, said bilateral trade had grown rapidly in the past few years, reaching more than $9.6 billion in the first 11 months of last year, up 12 per cent over the same period in 2013.

Thailand was among Viet Nam's most important trading partners. However, bilateral trade was still low compared to the potential of the two countries. Viet Nam's trade deficit with Thailand remained at more than $3 billion a year, Hung said.

He called on business communities to make more effort to increase bilateral trade and balance import-export revenue.

According to international market survey firms, the growth rate of consumer spending (CAGR) of Viet Nam in the 2011-20 period was expected to be one of the highest in the ASEAN region, reaching 8 per cent, he said.

The food and beverage industry was forecast to have a growth rate of over 9.4 per cent in the 2012-17 period. This showed the great potential of the country's food industry, he said.

Panpimon Suwannaphongse, consul general of Thailand in HCM City, said this was the third time the National Food Institute of Thailand (NFI) sent representative of the food industry to Viet Nam.

Many Thai firms had found business partners here, she said. — VNS