According to the Vietnamese Ambassador to the UAE, Mr. Nguyen Manh Tuan, Vietnam focuses to expand its agricultural and food product offerings in the UAE market.
Mr. Manh Tuan remarked that there remain huge opportunities for Vietnamese enterprises to accelerate exports of agricultural and food products to the UAE, thanks to its strong demand for these items. As the regional trade and logistics center, the country is considered as one of the world’s largest re-export markets for goods, including farm produce.
As per the reports, Vietnam exports $200 million worth of agricultural products to the UAE each year. Compared to the UAE’s annual import turnover, this figure was still modest.
Vietnamese Trade Counselor in the UAE Mr. Truong Xuan Trung stated that to increase market share in the UAE, Vietnamese businesses should strengthen cooperation and attend large agricultural fairs and exhibitions in the UAE.
At the same time, government agencies needed to host forums and business exchange events to support local firms in finding suitable partners, verify information about partners and competitors. The State should also provide the firms with updated market information while completing the bilateral legal framework.
Meanwhile, Mr. Raphael Nagel, President of the Abrahamic Business Circle, said that to do business successfully in the UAE, businesses needed to establish representative offices in the country.
According to the UAE Ministry of Industry and Trade, the UAE is a potential market for agricultural and food products from Vietnam.
As part of the UAE market expansion, Vietnam Trade Promotion Agency (VIETRADE) organized the Vietnamese Pavilion at the Gulfood Dubai Fair 2022 in partnership with the Vietnamese Embassy and Trade Office in the UAE, with the participation of 12 agricultural and processed food enterprises from Vietnam.
During the event, the Vietnamese firms showcased rice, cashew nuts, coconut, pepper, cinnamon, anise, milk and dairy products, fresh fruits, and juice, among other items.
Director of VIETRADE, Mr. Vu Ba Phu, praised the event as “an opportunity for Vietnamese businesses to seek new partners and diversify their markets in the context that they were finding it hard to export agricultural and aquatic products to traditional markets due to the impacts of the COVID-19 pandemic.”
