Thailand has pledged to help Vietnamese distributors obtain more knowledge about Thai markets through the "Week of Vietnamese Goods in Thailand" expo to be hosted by Bangkok's Central World mall.
According to Saigon Giai Phong News (SGGP), Vice Executive President of Foothalls International Food & Alcohol Buying at Central Food Retail Co, Ltd., Nick Reitmeier, confirmed that the event will feature Vietnamese goods from September 18-22.
The huge announcement was made during a business meeting in Ho Chi Minh City wherein over 120 companies graced the conference. The city's Investment & Trade Promotion Center (ITPC) hosted conference attendees who support the government's relations with Vietnam.
During the conference, businesspeople shared their expertise and knowledge on topics revolving around Thai foreign policies for distributors aiming to penetrate various Thai markets.
The ultimate goal of the upcoming Vietnamese products expo is to help both Thai and Vietnamese enterprises gradually transition to modern business models. The event is also expected to help entrepreneurs have a better understanding of Thailand's strict requirements.
On Tuesday, a Viet Nam News report noted that Vietnam's quality products won't make it through the Thai market if exporters don't focus on building their brands in such a way that adapts to Thailand's needs and preferences.
"Viet Nam has a lot of high-quality products, but there is a lack of knowledge about such products in Thailand, as well as brand building from Vietnamese businesses," Reitmeier pointed out.
Thai and Vietnamese officials agreed that Vietnam's exporters need to do ample research about Thailand's markets so they will understand which products are in demand or how they can introduce new goods effectively.
Reitmeir suggested that Vietnamese export companies should invest in packaging ideas that will set them apart from Thai providers. Furthermore, he explained the importance of introducing branded products from Vietnam to Thailand's massive consumer-base.
While Vietnam is acknowledged as a quality raw materials provider, industry analysts said it is the right time to allow for Vietnamese brands to explore opportunities in Thai markets under the country's distribution laws and foreign selling systems.
Vietnam Plus reported that while Vietnamese products have huge opportunities in the Thai market, earlier exported goods did not meet the preferences of Thailand's consumers. To address the issue, the annual "Week of Vietnamese Goods in Thailand" is expected to help exporters prepare products that will suit the taste of local buyers.
It is worth noting that the upcoming expo aims to support small and medium-sized enterprises (SMEs) enhance export activities in Thailand even if it is a market that often has high standards.
