Hanoi to hold trade fair to boost penetration in Japanese market
The event is part of a cooperation agreement between Hanoi’s authority and Japanese leading retailer AEON on selling Vietnamese goods in AEON’s super markets.
Hanoi is scheduled to hold a trade fair at AEON Mall Long Bien from October 10 – 13 to boost the penetration of Vietnamese agricultural products in the Japanese market, according to Nguyen Mai Anh, Hanoi Promotion Agency (HPA)’s vice director.
Vietnamese goods on display at AEON shopping mall in Japan.
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According to Anh, the trade fair would feature 80 – 100 booths, introducing organic and processed agricultural products from provinces such as Quang Ninh, Hai Duong, Thai Nguyen, Ha Nam, Hung Yen, among others.
Additionally, a variety of Hanoi’s specialties are expected to take the spotlight at the event, with “Bưởi Diễn” (Dien pomelo), “Ổi Đông Dư” (Dong Du guava), “Cam canh” (Canh orange), Ba Vi Hill chicken, or Van Dinh duck.
In 2016, Vietnam’s exports to Japan stood at US$14.6 billion, and US$11.4 billion in the first seven months of 2019, up 9.7% year-on-year, according to the Ministry of Industry and Trade (MoIT).
By 2020, the MoIT targets bilateral trade volume to reach US$60 billion.
CEO of AEON Vietnam Shiotani Yuichiro said Vietnam has advantages in goods such as clothes, household appliances, food, but they are still having difficult time competing with similar products from other countries in the Japanese market.
Among 3,000 suppliers of AEON Vietnam, only 200-300 have met international standards and had experiences of exporting goods to Japan, Yuichiro stated.
More and more Japanese customers are interested in Vietnamese products, which is one of the reasons for AEON to increase its imports of Vietnamese goods, added Yuichiro.
AEON targets to import US$500 million worth of Vietnamese goods for its distribution system by 2020 and US$1 billion by 2025, said Yuichiro.
Director of Hoa Binh Rattan Bamboo Company Duong Thi Chinh said local companies are facing challenges to pitch their products into AEON’s distribution system, mainly due to the weak linkage between enterprises and foreign distributors.
HPA’s Vice Director Anh said in the coming time, the agency would expand cooperation with AEON in searching for qualified suppliers for greater penetration of Vietnamese products into Japanese market.
However, Anh noted local enterprises must change their mindsets from looking for central buyers to studying demands of target customers, and in this way helping them have a better chance to gain a foothold in foreign markets.
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