This year's ASEAN Trade Fair is introducing ASEAN economic achievements to a global audience while demonstrating the determination of member countries to strengthen their co-operation and to establish an integrated, economic, environment, said Deputy Prime Minister Vu Khoan yesterday at the ASEAN Trade Fair 2004.
The ASEAN Trade Fair 2004 is testament to Vietnam's determination to promote and enhance economic ties.
In a speech at the opening ceremony for one of Vietnam's largest ever trade fairs, Mr Khoan said business exchanges and trade fairs play an important role in establishing an ASEAN Economic Community.
"Planned for the sidelines of the Asia-Europe Meeting (ASEM 5), the ASEAN Trade Fair 2004 sends a strong message that Vietnam wants to strengthen its relationship with the outside world, with Europe as its foremost partner," said Mr Khoan.
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Trade Minister Truong Dinh Tuyen added that the fair was not only an important trade promotion event among ASEAN members, but also, a golden opportunity for ASEM business co-operation.
"The fair presents promising opportunities for ASEAN businesses to reaffirm their prestige and presence in the regional and international markets by making their own brand names widely recognised," said Mr Tuyen.
He believed the fair will create new developments for co-operation among ASEAN and non-ASEAN businesses.
The trade fair covers an area of 20,000sq.m and features ten national representative pavilions from ten ASEAN countries. In addition, the fairground includes 600 display stands for businesses from 20 countries, including ASEAN members, the EU, the US, China, India and Pakistan. Organisers expect to welcome 10,000 business people and more than 100,000 Vietnamese and international visitors.
The fair will focus on what are considered the highest-potential ASEAN product areas of electronics, electricity, interior decoration, fashion and agriculture.
The ASEAN Business Forum and ASEAN Night have both been organised on the fair's sidelines.
According to Mr Tuyen, regional economic ministers and international experts in building and advertising trademarks will attend the ASEAN Business Forum, which will provide ASEAN economic officials and businesses with opportunities to exchange their knowledge and experience, to share views and to discuss the role of entrepreneurs in co-operation among ASEAN members.
Meanwhile, ASEAN countries will also have the opportunity to exchange ideas with ASEM5 participants and introduce their unique cultures on ASEAN Night.
The biennial ASEAN Trade Fair is a significant trade promotion activity within the co-operation framework of ASEAN members. The event is designed to promote commercial exchange, to enhance multi-sided co-operation and to introduce the image of an ASEAN group rich in trade, tourism and investment potential.
The fair, which was organised by the Ministry of Trade, will last until October 10.
VN – US trade fair for the first time in VN
The Vietnam Chamber of Commerce and Industry (VCCI) and US Embassy in Vietnam plan to organise the first Vietnam – US trade fair on the occasion of APEC 2006 and the US President’s visit to Vietnam.
Hundreds US and Vietnamese companies will attend the trade fair in an effort to seek business and investment opportunities. The Vietnamese enterprises will introduce to the US partners the Vietnamese typical products at the fair and show their production capability.
The trade fair will also serve as an opportunity to display the big economic achievements the business circles of the two countries have gained since the two countries established the diplomatic relation, and especially since the Vietnam – US Bilateral Trade Agreement (BTA).
According to the Ministry of Trade, the Vietnam – US two way trade turnover reached $7.6bil in 2005, of which Vietnam exported $6.5bil worth of products, and imported $1.1bil. It is estimated that the figure will rise to $8bil in 2006.
In 2006, Vietnam will continue opening the market under the BTA commitments, removing the nation’s discrimination in prices and fees for all kinds of products and services, including the airfare and power prices. Vietnam will also lift the imports limitation, build up the procedures for licensing US invested joint ventures in main telecommunication services (the US side will be allowed to hold 49% of the total capital at maximum).
Most recently, a delegation of big US corporations arrived in Vietnam to seek business opportunities. The corporations expressed their deep interest in Vietnam’s market and appreciated Vietnam’s investment environment, especially when Intel group decided to make investment in Vietnam.
