Vietnam, Turkey aim for US$3 billion two-way trade in 2016

Wednesday, 2016-03-02 16:16:40
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Vietnamese and Turkish enterprises hold talks at the forum (photo: VNA)
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NDO - The governments of Vietnam and Turkey have set a target of reaching two-way trade revenue of US$3 billion in 2016, said Nguyen The Hung, Deputy Director of the Vietnam Chamber of Commerce and Industry (VCCI), Ho Chi Minh City branch at the Vietnam-Turkey Business Forum held on March 2. 

Hung noted that the bilateral trade revenue between Vietnam and Turkey has seen strides in recent years, rising from US$1 billion in 2012 to US$1.5 billion in 2015. Of the total, Vietnam posted an export revenue of US$1.4 billion and an import revenue of US$100 million.

A representative from the Turkish Exporters Assembly (TIM) said that the forum held by the VCCI, Ho Chi Minh City branch in co-ordination with the TIM provided enterprises of both countries with many business and investment opportunities.

Vietnam is considered a potential market in Asia, attracting much attention from Turkish enterprises, particularly as many free trade agreements signed by Vietnam are begin to take effect.

This year's forum saw the participation of various Vietnamese enterprises and nearly 20 Turkish enterprises operating in the fields of agricultural machinery, logistics, electronics, home appliances, cable recycling technology, pharmaceuticals, and food among others.

Vietnam's main export products to Turkey include phones and components, computers, fabric, yarn and rubber while the country mainly imports machinery, equipment, chemicals, pharmaceuticals, and milk from Turkey.