Exports of goods to the Japanese market increased only 4%

On August 26th, at a meeting to promote export growth to the Japanese market, Mr. Tran Phu Lu, Director of the Ho Chi Minh City Trade and Investment Promotion Center (ITPC), stated that the value of goods exported to the Japanese market from the beginning of the year to date has only increased at a low rate, approximately 2.8% compared to the same period last year.

Mr. Tran Phu Lu, Director of the Ho Chi Minh City Trade and Investment Promotion Center (ITPC), spoke at the meeting.

According to Mr. Tran Phu Lu, the import and export turnover between Vietnam and Japan in the first seven months of 2024 is estimated at US$25.87 billion, an increase of 4% compared to the same period in 2023. Of this, Vietnam's exports to Japan are estimated at US$13.46 billion, an increase of 2.8% compared to the same period. Specifically for Ho Chi Minh City, the city's exports to Japan reached US$1.3 billion, an increase of 6% compared to the same period.

Regarding this issue, Ms. Quyen Thi Thuy Ha, Commercial Counselor of Vietnam in Osaka, Japan, Ministry of Industry and Trade , stated that the Vietnamese product groups currently considered to have export potential to the Japanese market are textiles and garments; transportation vehicles and parts; machinery, equipment, and tools; wood and wood products; seafood; and telephones and components. Currently, Vietnam only accounts for about 3% of the total import and export turnover to the Japanese market, so there is still a lot of room for growth and opportunities.

Furthermore, in Japan, there are approximately 500,000 Vietnamese people currently living, studying, and working, accounting for 16% of the foreign population, making them the second largest group, and this number is expected to continue increasing in the future. Therefore, this is also a potential consumer base and opens up many opportunities for Vietnamese food products to be exported to Japan.

Many businesses are exploring opportunities to boost exports to the Japanese market.

Therefore, to increase market share here, Vietnamese businesses need to meet the requirements of the Japanese market. Accordingly, they need to focus on ensuring high regulations and standards regarding product quality; aesthetic appeal and usability in packaging and design; and sustainable development goals that are environmentally friendly and demand high social responsibility from manufacturers.

At the same time, it is necessary to regularly research and improve products, enhancing product quality from cultivation, harvesting, preservation, processing, packaging, and distribution. In particular, it is essential to increase participation in appropriate promotional and marketing activities and programs in Japan, aiming to win over Japanese customers.

MINH XUAN

Source: https://www.sggp.org.vn/xuat-khau-hang-hoa-qua-thi-truong-nhat-ban-chi-tang-4-post755769.html