Australia remains potential market for Vietnamese exports: experts

HCM City – Australia, which annually spends about 600 billion USD on imports, is a potential market for many exports of Vietnam, said Tran Ba Phuc, Chairman of the Vietnamese Business Association in Australia, at a trade promotion and connection conference held on December 21.

Noting that trade between Vietnam and Australia is yet to match the nations’ potential, Phuc informed that the bilateral trade exceeded 8.3 billion USD in 2020 and hit 10 billion USD in the first 11 months of 2021.

Phuc said his association has just set up a centre for Vietnam-Australia trade promotion and a chamber in charge of trading Vietnamese products in Melbourne. The sites aim at boosting the export of Vietnamese products to the Australian market via introducing them to the local retail chains.

Le Huu Nghia, Vice President of the Ho Chi Minh City Union of Business Associations (HUBA), said HUBA has signed cooperation pacts with the Foreign Service Center (FSC) and the Overseas Vietnamese Business Association to hold a series of events for business networking and the introduction of Vietnamese products to potential markets, including Australia.

Peter Hong, Vice President and General Secretary of the Overseas Vietnamese Business Association, said the advantage of Vietnamese businesses when bringing goods to Australia is easily connecting with the community of about 450,000 - 470,000 Vietnamese living and working here. In addition, there are about 30,000 Vietnamese students studying in Australia.

He advised Vietnamese exporters to study Australia’s standards and certificates and to come up with measures for safe packaging, storage, and transport to ensure the quality of their products.