At a trade exchange programme in Ho Chi Minh City on May 5, TIM Deputy Chairman Mustafa Cikrikcioglu said the development potential of Vietnam and Southeast Asia is very big, and this is an opportunity for Turkish enterprises to expand trade ties with these markets.
Many Turkish companies shared the view that Vietnam and Turkey have different specialised production fields while goods they are strong at are not direct rivals to each other, so their businesses can easily cooperate and support each other.
Vietnam has strength in exporting electronic devices and components, rubber, fabric, and agricultural products. Meanwhile, Turkey is good at manufacturing, agricultural product processing equipment, mechanics, and machinery which are now in demand in the Southeast Asian nation.
To promote Turkey’s export to Vietnam and mutual investment, the TIM will work with the Vietnam Chamber of Commerce and Industry (VCCI) to increase direct contact between the countries’ businesses such as by organising trade events or participating in exhibitions.
Turkish companies also expressed their hope that the two Governments will soon streamline visa granting procedures so that entrepreneurs can have better conditions to meet and set up long-term partnerships.
Nguyen The Hung, Deputy Director of VCCI’s HCM City branch, said Vietnam and Turkey boast sound cooperation in various spheres, including trade that has been growing strongly in recent years. However, bilateral trade revenue has yet to be on par with potential and is still dominated by Vietnamese exports.
To foster trade activities, the countries’ Governments and business associations should coordinate more closely and devise more solutions to connect and support their enterprises, he added.
In 2016, bilateral trade reached 1.5 billion USD, including more than 1.3 billion USD of Vietnam’s shipments. Turkey has 15 investment projects with total capital of 704 million USD in Vietnam at present.
VNA/VNP
