Enterprises urged to grasp Thai consumers’ taste to boost exports
The Ministry of Industry and Trade (MoIT) has suggested Vietnamese enterprises further learn about Thai consumers’ taste and the country’s regulations and technical standards to boost exports to this market.
The enterprises were also urged to apply advanced technologies in processing and storing to ensure their products’ quality during the transport process.
The MoIT noted the trends of green consumption, organic products and environmentally friendly consumption in Thailand, particularly food and consumer goods.
According to the MoIT's Asia-Africa Market Department, since the establishment ofVietnam-Thailand diplomatic ties in 1976 and the upgrade of their relations to the enhanced strategic partnership in 2015, the two countries have witnessed growing cooperation and friendship.
Thailand is currently Vietnam's largest trading partner in the Association of Southeast Asian Nations (ASEAN). Meanwhile, Vietnam is Thailand's second largest trading partner, after Malaysia, in ASEAN.
According to the General Department of Customs, the total import-export turnover between the two countries increased from US$10.5 billion in 2013 to nearly US$19 billion in 2023. Especially, in 2022, the turnover reached US$21.6 billion, exceeding the US$20 billion mark for the first time. The two countries are aiming to soon reach a bilateral trade turnover of US$25 billion in a more balanced direction.
The MoIT has implemented activities to boost the Vietnam-Thailand economic and trade relations, including working sessions with Thai authorities to review and update the cooperation in trade, industry and energy between the two countries.
At the 4th meeting of the Joint Trade Committee between Vietnam and Thailand held in Bangkok in 2022, the two sides mapped out plans and action programmes to strengthen their cooperation, including minimising the application of unnecessary trade barriers towards removing these barriers. The move aims to ensure the normal operation of supply chains, establish information exchange channels between agencies in charge of trade defence, and coordinate to organise trade promotion activities in Thailand and Vietnam.
In addition, Thai retail corporations were suggested on to act as a bridge to bring Vietnamese goods to Thai consumers and those in countries where Thailand has invested in distribution systems.
The MoIT has also paid attention to supporting enterprises in market research and forecast, market information access and trade promotion.
