Economic experts are calling the Middle East, with its 16 countries and 400 million people, a huge potential market for Vietnamese agricultural products.
According to data from the Vietnamese Ministry of Agriculture and Rural Development, the revenue out of import and export between Vietnam and the Middle East in 2016 added up to over 108.9 billion dollar. This is an increase of over 100% from 2011.
The Middle East needs vegetables, fruit and juices, which are an important industry in Vietnam.
According to Vo Quang Huy, chairman of Huy Long An Co. Ltd., the Middle East, and especially Iran, is a huge potential market for the export of bananas. He adds that his company has already exported bananas there before, but that there were some difficulties in the payment process.
He says that, in order to export bananas to the Middle East, the company needs high quality storage facilities at the Vietnamese production areas. He also points out that transportation is another obstacle.
Le Thanh, director of the Vietnam Organic Agriculture Economic Research Center, states that the Middle East is a paradise for Vietnamese products, and that it is a huge export market for Vietnamese agricultural products.
He also adds that Vietnamese exporters are still facing obstacles in distribution and payment.
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