VOV.VN - With export turnover to Hong Kong (China) soaring by 14.9% last year to reach US$12 billion, the region continues to represent a potential export market for Vietnamese goods, according to industry insiders.
Vu Thi Thuy, head of Vietnam’s Trade Office in Hong Kong, revealed that with Hong Kong importing over 90% of food products and consumer goods, it continues to make up a potential export market for high-quality goods from the Vietnamese market and other nations.
Nguyen Thi Thu Thuy, deputy director at the Export Promotion Center under the Ministry of Industry and Trade (MoIT), said Vietnam has consistently been among the top 10 largest trading partners of Hong Kong for several years.
Last year saw the country climb to be Hong Kong's seventh largest trading partner, whilst being ranked second among ASEAN partners, with two-way trade turnover between both sides reaching US$13.62 billion.
Key Vietnamese export items to Hong Kong include processed goods, commodities in the manufacturing sector, garments and textiles, agriculture, forestry, fisheries, and foodstuff.
During the opening two months of the year, local exports to Hong Kong dropped by 7.9% to US$1.655 billion, while the nation also spent US$309.7 million on imports from Hong Kong, posting a rise of 55.3% on year.
Hong Kong has been Vietnam's fifth largest investor among 141 territories and countries investing in the Vietnamese market, with a total registered capital of US$27.83 billion as of December 20, 2021.
The majority of capital flows from Hong Kong primarily focuses on diverse fields, including processing and manufacturing industry, real estate, garments and textiles, hotel and restaurant services, transportation, and warehousing.