March 25, 2009

Vietnamese businesses are eyeing the South American market, hoping to export certain competitive products like seafood, trade officials said.

However, Vietnam's trade counsellor in Brazil Pham Ba Uong said that they need to acquire information from trade offices in the continent first to understand the demands of the market.

According to the Vietnam Trade Office in Brazil, the local government has allowed 60 Vietnamese businesses to export fisheries produce.

Uong said many Brazilian importers have come to his office looking for partners in Vietnam to ship thousands of tonnes of catfish.

He said the Brazilian market, with its population of more than 190 million, offers new opportunities to Vietnamese companies in the face of shrinking markets because of the global economic crisis.

Many Vietnamese companies have gone to Brazil in the last few years to look for business opportunities.

Trade between Vietnam and Brazil rose 60 percent annually between 2005 and 2008 to reach US$534.5 million, while this year, it is targeted to reach US$500 million and US$1 billion in 2010.

Chile is also seen as a promising market, with the Vietnamese trade office there actively supporting businesses from back home.

It has informed Vietnamese businesses that Chile is looking to import from Vietnam items like basa catfish.

Vietnamese trade counsellor in Chile Nguyen Tuan Viet said that to be competitive in the Chilean market, Vietnamese businesses should first establish their own websites to showcase their products and trademarks and improve quality.