Thai products flood Vietnam: Mini Thailand Week 2024

Hundreds of Thailand’s finest commodities are set to make waves in Vietnam as the third Mini Thailand Week 2024 kicks off in the seaside city of Ha Long.

The event, part of Thailand’s strategic push to integrate its businesses into Vietnam’s booming economy, kicked off yesterday, March 28, at the Centre of Planning Fair and Exhibition in Ha Long, Quang Ninh province, and will run until March 31. Anticipating a staggering turnout, organisers expect over 10,000 Vietnamese visitors to flock to the event.

Deputy Director-General of the Department of International Trade Promotion (DITP), Pornvit Sila-on, highlighted Vietnam’s remarkable economic growth as a prime opportunity for Thai businesses to tap into. He expressed confidence that the event would facilitate direct engagement between Thai entrepreneurs and Vietnamese consumers, aiming to bolster Thailand’s position as Vietnam’s top ASEAN trade partner.

Among the diverse array of Thai products on display, including snacks, beverages, and daily essentials, representatives from 24 Thai SMEs are present to explore potential partnerships and market expansion opportunities. Pornvit emphasised the DITP’s commitment to supporting Thai SMEs in thriving within the international market, with Vietnam serving as an ideal springboard.

Chalermchai Pornsiripiyakool, head of international corporate affairs at Central Retail Vietnam, underscored the importance of understanding Vietnamese consumer behaviour, citing regional differences in preferences and spending habits. He advised SMEs to adapt their products and marketing strategies accordingly to resonate with local tastes and lifestyles.

Thailand’s ambassador to Vietnam, Nikorndej Balankura, hailed the event as a testament to the strong bilateral ties between the two nations, expressing aspirations to boost bilateral trade to US$25 billion (approximately 912 billion baht) by 2025, reported The Nation.

Collaborative initiatives like Mini Thailand Week signify a mutual commitment to fostering economic cooperation and prosperity between Thailand and Vietnam.

In related news, a downward shift is projected for Vietnam’s rice exports in the current year, with estimates ranging between 6.5 and 7.0 million metric tonnes. This is a noticeable drop from the previous year’s record high of 8.1 million tonnes, as reported by the Vietnam Food Association.