HCM CITY — The Philippines and the Viet Nam Trade Promotion Agency yesterday brought together business executives from the two nations to promote bilateral trade.

Philippine businesses came looking for Vietnamese partners and distributors in areas like industrial paints, preservatives and other substances used in foodstuff, herbal medicines, confectionery, and animal feed.

Viet Nam is the first destination for the Philippine delegation. Following its three-day visit ending today (Thursday), the group will go on to Laos, Myanmar, and Cambodia.

Vo Ta Luong, deputy chief representative of the HCM City office of the Ministry of Industry and Trade, said trade between Viet Nam and the Philippines is looking up.

It was worth US$2.3 billion last year and $1 billion in the first five months of this year. Viet Nam exported rice and other agricultural produce, processed food, and steel and imported machinery, confectionery, and fertilisers.

"The Vietnamese Government has always identified co-operation with neighbouring countries as a core priority," Luong aid.

"Philippines is a strategic partner," he added.

The trip was organised by the Philippines's Bureau of Export Trade Promotion.

July 5, 2012

Source: VNS

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