Vietnam, Pakistan hold online tea exchange

March 13, 2012 | 18:00

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An online tea exchange between Vietnam and Pakistan took place in Hanoi on March 12.

The event was organised by the African, West and South Asian Market Department under the Ministry of Industry and Trade (MoIT), in coordination with Vietnam and Pakistan Tea Associations.

The online exchange aimed to help Vietnamese and Pakistani businesses overcome the shortage of information and establish initial, direct contact. During the exchange, businesses discussed recent cooperation between the two countries in tea trading, and market trends in 2012, including prices, quality, methods of payment and contract implementation.

They pointed out advantages and challenges to tea imports and exports, and worked out solutions to boost tea trading. According to Head of the African, West and South Asian Markets Department Ly Quoc Hung, Pakistan imported 17,582 tonnes of tea, mostly green and herbal tea, from Vietnam in 2011, worth $32 million. In early 2012, it has already imported 3,100 tonnes of Vietnamese tea, mainly green, processed and dried tea, valued at $4.9 million.

Hung noted that MoIT has devised some measures to support Vietnamese businesses exporting to Pakistan, including revising economic mechanisms, developing markets and reforming financial policies. It has helped businesses invest in infrastructure, improve the quality of human resources, and increase their competitiveness in order to promote relations with the Middle East until 2015.

Last year, two-way trade between Vietnam and Pakistan rose by 33.9 per cent compared to 2010. Vietnam’s exports to Pakistan reached $168 million and its imports rose to $156 million. Vietnam mainly exports cloth, fibre, pepper, tea, seafood, rubber, steel and chemical products to Pakistan.