Nghe An participates in trade delegation, learns about Philippine market

The delegation of Nghe An province was led by Mr. Le Hong Vinh - Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee. Attending the delegation were representatives of the Department of Industry and Trade, Department of Foreign Affairs, and the Office of the Provincial People's Committee.

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The trade delegation to the Philippines market under the National Trade Promotion Program 2024 was approved by the Ministry of Industry and Trade in Decision No. 3444/QD-BCT dated December 31, 2023. This program is chaired and organized by the Vietnam Food Association. Also participating were representatives of the Import-Export Department, Departments and Divisions under the Ministry of Industry and Trade; representatives of the People's Committees of some provinces and cities; representatives of the leaders of corporations and companies producing and exporting rice and food in Vietnam. The Philippine side included representatives of State management agencies such as the Ministry of Agriculture, the Department of Crops, the Ministry of Commerce, NFA, localities and major importing enterprises of the Philippines.

The Philippines is a traditional and key market of Vietnam, especially for rice. In the first 9 months of 2024 alone, Vietnam exported about 2.81 million tons of rice to the Philippines, with a turnover of about 1.72 billion USD, an increase of 19.3% in volume and 39.2% in value compared to 2023.

For Nghe An province, in the first 9 months of 2024, export turnover to this market reached 55.9 million USD, an increase of 46.8% over the same period in 2023. Main export items include: rice (22.3 million USD), cement (26.7 million USD), milk, dairy products; processed fruits, various types of stone, textile fibers, etc. with the participation of 20 export enterprises.

According to research, the Philippine market is a regional market that enjoys tariff incentives from the ASEAN free trade agreement and other free trade agreements of which Vietnam and the Philippines are members. With a favorable geographical location, the Philippines is a traditional and potential market for Nghe An province's enterprises with a variety of products, especially rice, food, etc.

In order to support businesses to consolidate and strongly develop exports to this market; with the support of the Import-Export Department, departments and offices of the Ministry of Industry and Trade, Vietnam Food Association... The trade delegation in the Philippines has meetings to promote market expansion and find partners for businesses in the province.

Here, the delegation worked with a number of state management units of the Ministry of Agriculture, Department of Crops, Ministry of Commerce, NFA, etc. of the Philippines; met and worked with Philippine business partners; attended a trade seminar between Vietnamese exporters and major rice importers of the Philippines (according to the program of activities of the Vietnam Food Association organized in the Philippines).

In addition, on November 6, the Nghe An delegation surveyed the market in Manila, Philippines; worked with the supply chain and importers in Manila; worked with the Embassy and the Vietnamese Trade Office in the Philippines to learn about the market and partners; and attended the Supply-Demand Connection Conference organized by the Vietnamese Trade Office in the Philippines.

The representative of the Import-Export Management Department, Department of Industry and Trade participating in the working group said: Participating in this delegation are enterprises such as Vilaconic Joint Stock Company, Song Lam Sugarcane Joint Stock Company, Trung Hai Nghe An Group Joint Stock Company... Through the working sessions, the delegation promoted the brand, introduced the province's export products, and promoted trade promotion activities with the Philippine market. Hopefully, after the working trip, it will support import-export enterprises in finding partners and signing contracts...