Key exports included seafood, rice, wood and wood products, textile and garment, footwear, computers, and electronic products and equipment.— Photo fistenet

HCM CITY (Biz Hub) — Vietnamese businesses need to boost exports to Hong Kong to not only exploit that market but also neighbouring ones, a seminar heard in HCM City last Thursday.

"Hong Kong – An International Hub for Legal and Arbitration Services" seminar was held to provide information about Hong Kong to Vietnamese firms, enabling them to strengthen trade and investment ties with the market.

Hong Kong, which has a population of around seven million and a very high per capita income, primarily imports food and foodstuff due to its shortage of cultivable land. This offers the Vietnamese agricultural sector opportunities to sell to this lucrative market, according to participants.

The territory is emerging as a promising market for Vietnamese seafood products, the Viet Nam Association of Seafood Exporters and Producers said, adding that exports to Hong Kong grew rapidly last year.

It is also an important market for Vietnamese rice, especially fragrant rice.

According to the General Department of Viet Nam Customs, trade between Viet Nam and Hong Kong has risen strongly in recent years, with Vietnamese exports reaching US$4.1 billion last year.

Key exports included seafood, rice, wood and wood products, textile and garment, footwear, computers, and electronic products and equipment.

Hong Kong is also considered a trade and investment gateway to mainland China and other countries, and Vietnamese businesses should use the opportunity to enter other markets through the territory, delegates said.

Hong Kong Secretary for Justice Rimsky Yuen was among those attending the seminar organised by the Viet Nam Chamber of Commerce and Industry, the Hong Kong Department of Justice, the Hong Kong Trade Development Council, and the Hong Kong Economic and Trade Office in Singapore, reported the Thoi bao Kinh te Viet Nam (Vietnam Economic Times). — VNS