Trade Mission Targets Dynamic Agrifoods Market in Vietnam

Trade Mission Targets Dynamic Agrifoods Market in Vietnam

November 9, 2015 Posted by Regan Macdonald

Demand in Asia is growing for British Columbia's Okanagan apples.

With a growing position in world markets and an influential position in the Association of Southeast Asian Nations (ASEAN), Vietnam is an important market for British Columbia agrifoods exporters. International Trade Minister Teresa Wat will mark its significance by extending her trade mission to Asia with four days in Ho Chi Minh, from Nov. 8 - 11. 

Vietnam already buys over $100 million worth of B.C. products, a total that has grown virtually every year since 2004. Much of those exports – about 40 per cent – are agricultural and food products ranging from vegetable oils to crustaceans and molluscs. Fruit such as cherries and apples are also growing in importance.

With its population of 93 million and an annual GDP growth rate of 5.3 per cent, Vietnam has a dynamic economy that attracts international attention. The rapid growth in B.C.’s exports to Vietnam, and the doubling of agrifoods products, clearly shows the interest of Vietnamese buyers in products from B.C. As a member of ASEAN, Vietnam is key for not only for its domestic market, but also as a link to the large southeast Asian trading zone.

The business delegation travelling with Minister Wat aims to increase awareness of B.C. products and services in the region.  Mission activities include attending the Canadian Food Festival in Ho Chi Minh City, corporate calls to major Vietnamese buyers and investors, and will also serve to bolster B.C.’s educational ties in Vietnam.

Trade missions such as the visit to Vietnam are a critical part of British Columbia’s strategy to diversify its international trading partners and secure new investment. The Vietnam mission follows the trade mission to China led by Premier Christy Clark from Oct. 30 to Nov. 7, 2015.

British Columbia has 11 trade and investment representative office locations (TIRs) around the world with offices in Asia located in China, Japan, South Korea, and India. The TIR team works alongside the ministry’s British Columbia-based trade and investment team to make introductions to potential buyers, investors, and other in-market partners. They also help B.C. companies and communities identify attractive investment opportunities.

If you are looking to expand a B.C. business internationally or partner with B.C. businesses, the B.C. Ministry of International Trade can help you connect with trade experts, local contacts, and potential clients through these networks and services.

Contact our team today.
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