E-commerce helps Vietnam businesses enter US market

March 31, 2011 | 08:07

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A trade official affirmed that the application of e-commerce was one of the most effective ways to help Vietnamese commodities penetrate deeply into the US market.

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“Successful penetration into the US market will help Vietnamese businesses reap successes in other markets,” Deputy Chairman of the Vietnam Chamber of Commerce and Industry, Hoang Van Dung said.

At a seminar on promoting exports to the US through e-commerce held in Hanoi on March 30, Dung said that the step-up to e-commerce application will help narrow the geographical distance between the two countries and reduce the cost of direct transactions.

Underlining the importance of e-commerce for exports, Timothy Leung, Channel Sales Director at Alibaba.com said that 150,000 Vietnamese businesses were currently marketing their products on Alibaba.com and when they joined e-commerce trade, successful deals rose by 50 per cent.

Nguyen Duy Khien, Head of the American Market Department under the Ministry of Industry and Trade, said that the US has always been the number one importer in recent years, making up 24 per cent of Vietnam’s total export turnover.

Though earning $14 billion from the US market in 2010, Vietnam accounts for only 0.4 per cent of the total US import turnover.

In order to penetrate the US market, Khien said that besides joining e-commerce trading floors, Vietnamese businesses should pay attention to market segments, as well as suitable products to meet major consumption demand in the US.

VIR/VNA

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