Middle East targeted for agro-exports

The Middle East is not only a large market for Vietnamese agricultural products but a bridge to the European market, according to the Ministry of Agriculture and Rural Development.

Illustrative photo.

Minister of Agriculture and Rural Development Nguyen Xuan Cuong discussed the issue outside of the Middle East business co-operation conference held recently in Hanoi.

According to Cuong, the Middle East includes 16 core countries with a population of nearly 400 million. Vietnam can meet many demands for agricultural products from these markets. For example, the annual demand for rice from the Middle East is about five to seven million tonnes and there is huge demand for vegetables, fruits and aquaculture products.

Trade turnover between the Middle East and Vietnam was low because of payment difficulties. Both sides have to use banks in other countries such as China and Singapore for transactions, which increases the financial risks, Cuong said.

"Agricultural product export turnover to the Middle East could reach over USD10bn," he said.

The ministry has carried out extensive research into the Middle East, especially Iran. They will speed up the process, expecting to earn about USD2bn from Iran. 

Cuong urged businesses to improve the management, technology and quality of the products. He also encouraged farmers to collaborate to set up co-operatives for different products.

Vietnam’s export turnover of agriculture, aquaculture and forestry products was valued at USD32bn last year. Statistics from the Ministry of Industry and Trade show that trade turnover with the Middle East had been on the rise in recent years. Last year, total turnover reached USD10.9bn, double that of 2011. Import turnover was USD2.8bn and export turnover USD8.1bn.