Exports from Vietnam to New Zealand are recording strong growth, the Vietnamese Trade Office in New Zealand has said.
Among other products, upturn was seen in the revenue of tea and coffee (52%), pottery and ceramics (108%), paper and paper products (48%), steel (36.8%), and garment, footwear and accessories (22.8%).
In the first eight months of this year, two-way trade reached 1.7 billion NZD (963.81 million USD), up 21.4% year on year.
According to the office, the revenue of the majority of exports recorded double-digit growth, especially construction materials. It said that along with an increase in export volume, the prices of products in New Zealand have also increased.
The office forecasted that Vietnam’s exports to the New Zealand market will continue to grow. The two countries are members of many common trade deals, which provide tariff advantages in the market, thus increasing the competitiveness of Vietnamese products.
In addition, many New Zealand businesses are considering switching their supply chains to seek more suppliers from Vietnam, especially in garment and construction materials, the office said.
The recovering consumption and travel after the Covid-19 pandemic are also likely to increase future economic cooperation and trade between Vietnam and New Zealand.
The office reminded exporters to ensure that their products meet food safety requirements in the strict New Zealand market.
