Japan – a potential market for Vietnamese plastics

Japan has been the largest importer of Vietnamese plastic products in recent years with the value accounting for 24.7 per cent of Vietnam’s plastics exports.

In 2010 alone, Vietnam earned $235 million from shipping plastic products to the Japanese market, up 27.7 per cent compared to the previous year. Total plastics exports are estimated to reach $255 million this year.

At a recent seminar in Ho Chi Minh City organised by the Trade Promotion Department under the Ministry of Industry and Trade, many delegates said that Vietnam’s proportion of plastic exports to the Japanese market still remains modest.

Japan is one of the world’s demanding markets regarding quality control, and some Vietnamese businesses cannot meet its quality requirements because they lack information and experience.

In order to develop the plastics sector sustainably, they said Vietnamese businesses should devise an investment strategy for modern technologies, conduct research and survey potential markets.

They also suggested that Vietnamese businesses should also co-ordinate with Japanese and international trade organisations to receive support in terms of market information and learn about the quality control regulations and administrative procedures. – VOV

Tags: Vietnam plastics industry

Posted by VBN on Nov 12 2011. Filed under Rubber & Plastic. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry