(vasep.com.vn) In the time of a global economic slowdown, EU’s demand for goods is declining, however, during the recent years, Ukraine is becoming a new and potential market supported by high economic growth, fast development in heavy industry and national defence industry.
Ukraine’s demand for imported consumer goods especially agricultural and seafood products, has risen sharply. Vietnam exporters should aim to achieve a deeper and more efficient penetration into this market.
Following the signing of more than 20 agreements on economic and trade cooperation between the two sides in many important fields such as maritime transport and airfreight, Vietnam’s goods exported to Ukraine has grown considerably. Two-way trade turnover is estimated at around US$2.4 billion. Vietnam exported mainly seafood, garment and textiles, footwear, hats and handicrafts products to this country.
Since early this year, Ukraine’s investment in Vietnam has reached nearly US$400 million and is expected to hit US$600 million in the end of the year. Ukraine has 12 valid investment projects in Vietnam with a total capitalization of more than US$27 million, ranking the 60th among 98 countries and territories investing in Vietnam.
Vietnam remains a reliable partner of Ukraine businesses, in fact, despite their geographical distance, cultural differences, language dissimilarity, complicated procedures for visa granting and lack of updating forecasts on market trends, the exchange of goods and services between the two nations rose from US$324.5 million in 2011 to US$456 million in 2012. Exports of goods and services reached over US$320 million and imports of goods and services hit US$324 million in 2012, therefore, its turnover almost doubled in both sectors, Oleksiy Shovkoplias, the Ukraine ambassador to Vietnam, said.
Vietnam enterprises hope that difficulties in import-export activities between two countries will be solved to boosts Vietnam goods to penetrate deeper into this potential market.