Vietnam has been importing too many kinds of products from China which can be made domestically. Vietnamese consumers have been unintentionally enriching Chinese enterprises. Following different ways, Chinese goods have been creeping to every corner of the Vietnamese market and have been firmly cementing their positions there. According to Dr Doan Huu Tue, a Lecturer of International Commercial Law under the education cooperation program between the Hanoi University for Foreign Trade and French Tours University, the trade deficit with China has increased rapidly by 4.76 times, from 2.67 billion dollars to 12.7 billion dollars in 2010. Especially, the trade deficit has been increasing significantly since the ASEAN-China Free Trade Agreement (ACFTA) became valid on January 1, 2010, which is a foreseeable thing. In the context of trade liberalization, the "dependency" between those economies is understandable. However, according to Tue, it would be more exact to say that Vietnamese … [Read more...] about Chinese goods creep into every corner of Vietnamese market
While Chinese ships obstruct Vietnamese fishing at sea, Chinese businesses try to collect the seafood caught by Vietnamese fishermen. Since seafood gets depleted and fishing has been interrupted, seafood processing companies have to compete fiercely with each other to buy seafood. Meanwhile, Chinese businessmen have triggered an unhealthy competition to scramble for seafood from Vietnamese companies. Putting pressure both at sea and ashore According to Nguyen Thi Thu Sac, Deputy Chair of the Vietnam Association of Seafood Exporters and Producers (VASEP), many Vietnamese fishermen, due to the Chinese recent actions at the East Sea, dare not go out to the sea. The ships, which still go fishing these days, regularly meet Chinese businessmen who try to collect seafood right at sea. Meanwhile, on land, Chinese businessmen try to scramble with Vietnamese companies for purchasing seafood. Nguyen Diem, Director of the Da Nang-based Procimex, said that in order to compete with … [Read more...] about Chinese businessmen scrambling for seafood materials
Vietnamese farm produce and foodstuff are wresting back the domestic market share they lost to Chinese products in the last five years. In HCM City for instance, consumers who used to prefer farm products imported from China due to their cheap prices are now choosing Vietnamese products. This is mainly due to the improvement in the quality and output of Vietnamese agricultural produce and partly as a result of the "Vietnamese people use Vietnamese products" campaign. Chinese apples, pears, eggs, mackerel, and anchovies dominated both wholesale and retail markets in HCM City before 2005. Other Chinese farm produce like carrots, potatoes, ginger, cauliflower, broccoli, grapes, and mandarin oranges also began to appear gradually. In May 2005 vegetables imported from China accounted for a substantial portion of the vegetables sold at the Thu Duc wholesale market, Nguyen Thanh Ha, deputy head of the company managing the market, said. The situation was now different, he … [Read more...] about Chinese produce falls from favour
Vietnamese processors have been warned that Chinese businessmen would continue flowing to Vietnam to scramble for farm produce, advising domestic enterprises to apply necessary measures to effectively compete with them. In fact, Chinese businessmen have been going to Vietnam to collect farm produce for the last few years. However, observers say they have never collected such big amounts of products and with such regular frequency. There has been no sign showing that Chinese businessmen would stop collecting materials one. The presence of Chinese businessmen in Vietnam has been pushing the prices up, thus putting a heavy burden on Vietnamese consumers. Nguyen Thi Thu Sac, Deputy Chair of the Vietnam Association of Seafood Exporters and Producers (VASEP), said in previous years, Chinese businessmen came to collect shrimp materials directly from farmers. Meanwhile, this year, they also collect other kinds of seafood from offshore fishing boats and ashore. Due to the material … [Read more...] about Experts warn Chinese will continue collecting farm produce in Vietnam
Chinese businessmen are flocking to Vietnam to collect seafood materials right at the Vietnamese ports as if they are on the home market. Vietnamese fishermen are happy because they can sell seafood at good prices to Chinese businessmen. But no one can say for sure what will happen in the future. At Vinh Luong fishing port, a small port of Nha Trang City in Khanh Hoa province, though the sea is choppy these days, there are still some 30 fishing boats coming in and out every day. When Saigon tiep thi's reporters came, they could see crowds on the quay, where some 10 Chinese merchants, who checked the product samples and negotiated about the prices with Vietnamese fishermen. Lin Suo Qiang, 40, a Chinese merchant, thoroughly considered every basket of fish and talked to Vietnamese women in Vietnamese. He said that he has been doing business in Vietnam for the last several years. "Vietnamese seafood products are diversified. The quality is not the most important thing. The … [Read more...] about Chinese rush to collect Vietnam’s seafood, and what’s next?