Local companies must offer higher quality products at lower prices to raise their exports to the Hungarian market, said Nguyen Luc, chief representative of the Southern Vietnam Craft Villages Association and director of VietAsia.
According to the official, Vietnamese companies should target consumer goods, footwear, garments, shoulder bags and other leather products.
Leather products, including shoulder bags, sell well in Hungary, he said, adding that retail turnover from leather products hits 80 million euros per year.
The Vietnamese Ambassador to Hungary, Nguyen Quoc Dung, said two-way trade between Vietnam and Hungary is expected to hit US$100 million in future.
He said that Vietnamese companies should set up a system of sales agents, distributors and a trade office to market their goods.
They should create flexible pricing policies to make their prices competitive on the world market, he added.
Vietnam exports garments, leather footwear, farm products, arts and handicraft items and electronics to Hungary.
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