VN, Middle East explore trade potential

That was reported at an international workshop hosted by the Ministry of Industry and Trade on December 20.

According to the ministry, Viet Nam-Middle East countries trade turnover reached only US$12.67 billion at the end of November.

The cooperation potential between the two sides is very large so businesses should intensify trade promotion, market survey; build market penetration strategies and make products with quality and designs suitable with standard regulations and consumer customs in Middle East nations.

With strongly developed economy, Gross Domestic Product (GDP) per capita of Middle East countries touches US$30,000-60,000 a year. The market is in high import demand of food, farm produce, seafood, consumer food and building materials. 

To further promote trade, the Vietnamese Government has approved a project on development of Viet Nam- Middle East trade ties from now to 2025 and the Ministry of Industry and Trade will work out a specific action program to implement it. The Ministry has also held regular promotion activities to help businesses access the Middle East market.

By Vien Nhu