New Zealand News: Vietnam is the fastest growing economy in Southeast Asia

Faced with the strong growth potential of the Vietnamese market, New Zealand businesses are striving to strengthen their position as strategic business partners, especially in the premium food and beverage sector.

On the morning of March 26, New Zealand's rnz.co.nz news site published an article stating that Vietnam is currently considered the fastest growing economy in Southeast Asia and that two-way trade between Vietnam and New Zealand has reached 2.68 billion NZD (equivalent to 1.54 billion USD).

Faced with the strong growth potential of the Vietnamese market, New Zealand export enterprises are striving to strengthen their position as strategic business partners, especially in the field of premium food and beverages.

In a recent speech to the New Zealand Parliament , the country's Minister of Trade and Investment, Ms. Nicola Griggs, commented that Vietnamese consumers tend to prefer premium foods and beverages.

Meanwhile, New Zealand has a strong competitive advantage in meeting this demand, thanks to its superior product quality and business innovation.

According to statistics, last year, New Zealand exported 172 million NZD worth of fruit to Vietnam, including staples such as apples, kiwis and cherries.

Mr. Ben MacLeod, Head of Sales and Marketing of Mr Apple Group, one of New Zealand's leading apple producers, commented that Vietnam is experiencing "extraordinary" growth.

According to him, in just the past 10-15 years, Vietnam has transformed itself from a low-income country to a middle-income economy. Free trade agreements between Vietnam and New Zealand have created important leverage to help New Zealand maintain its competitive advantage, especially in the field of fruit exports.

Sharing the same view, Mr. Brendan Osborne, Sales and Marketing Director of Nelson's Heartland Fruit, assessed that the Vietnamese market has changed dramatically since 2012 and is increasingly competitive.

Therefore, his business has chosen to focus on the high-end segment, which must meet strict quality standards, to conquer Vietnamese consumers.

With the rapid development of the economy and the increasing demand for high-end products, Vietnam is becoming an attractive destination for New Zealand exporters, opening up many opportunities for cooperation and sustainable development in the coming time./.

(Vietnam+)

Source: https://www.vietnamplus.vn/trang-tin-new-zealand-viet-nam-la-nen-kinh-te-tang-truong-nhanh-nhat-dong-nam-a-post1022824.vnp