Vietnam Looks For More Export Opportunities In Bangladesh Market

P, Vietnam's Ministry of trade, Africa, West Asia and South Asia, said Vietnam needs to conduct market research in Bangladesh to boost export trade growth.

At the same time, the long-term investment in the country is also very important, making use of the domestic population advantage to increase Vietnam's exports to other countries.

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< p > > a href= "http://www.91se91.com/news/index_p.asp" > Bangladesh < /a > has a population of 162 million, and is a large consumer market.

It is estimated that about 89.5% of the population of Bangladesh believes in Islam, and Vietnamese companies need to cater to the taste of local consumers and must be familiar with the individual needs of these consumer groups.

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< p > since 1973, after the establishment of diplomatic relations between Vietnam and Bangladesh, cooperation agreements have been signed in various fields.

Although bilateral trade between the two countries is not in full swing, the volume of bilateral trade has increased substantially in recent years, from 65 million US dollars in 2008 to US $390 million in 2012. Vietnam is very satisfied with this trade surplus.

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According to the statistics of < a href= "http://www.91se91.com/news/index_p.asp" > Vietnam < /a > Customs Department, the trade volume of Vietnam exported to Bangladesh increased 7.5 times from 2008 to 2012, from 2008 US $47 million to 354 million US $354 million in 2012.

In 2013, Vietnamese exports broke the historical record, with the export volume of US $446 million ranking the highest in the past years, up by 42.3% compared to the same period last year.

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The main commodities exported to Bangladesh by P are: fiber products, clothing, machinery, equipment, accessories, mobile phones, leather and footwear products.

Vietnam mainly imports from Bangladesh: < a href= "http://www.91se91.com/news/index_c.asp" > clothing > /a > textile materials, medicine and seafood.

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At present, Bangladesh hopes that more and more foreign enterprises will come to invest. The government will provide the least expensive labor force and the lowest rent to the enterprises that invest here, and enjoy a series of investment incentives at the same time. P

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The EU has provided a lot of preferential policies for exports to Bangladesh and Vietnam. Vietnamese clothing and textile enterprises can make full use of investment advantages and strong business opportunities, and then export commodities to the European Union. P

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While Vietnam's textiles are exported on a large scale, P also imports large quantities of clothing raw materials from abroad.

In 2013, Vietnam's total imports of textile fibers increased by 19.3%, amounting to US $8 billion 339 million 700 thousand, and the value of textile fibers imported from China amounted to US $3 billion 887 million.

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< p > although Vietnam's garment industry is thriving and exports are increasing year by year, most of the raw materials needed by Vietnam's clothing industry rely on imports, with an import ratio of 70%, such as textile fibers, labels, zippers, ropes and so on, which all need to be imported from abroad.

Vietnam textile and Apparel Federation believes that Vietnam should vigorously develop textile raw materials and accessories industry, and change the status quo of dependence on imports as soon as possible.

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Vietnam has made great progress in developing the manufacturing industry, especially the clothing and textile industry by virtue of its young population structure advantage. < p >

Vietnam's low labor costs and policy preferences have attracted many overseas clothing companies to invest in Vietnam's industry.

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(P) Vietnam's clothing exports to the US and Europe have been rising, and continuously eroded the traditional overseas market of Chinese garment enterprises. It can be said that China's garment export industry has been challenged by Vietnam.

However, as stated in the text, Vietnam has the largest resource of cheap labor, and its raw materials such as cotton, zipper and textile fibers rely heavily on imports, which will restrict the development of Vietnam's clothing industry to a certain extent.

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