Vietnamese goods, especially farm produce, are expanding their presence in retail chains and supermarkets across Malaysia, including well-known ones, reflecting growing consumer preference for Vietnamese products, according to Trade Counsellor of Vietnam in Malaysia Le Phu Cuong.
Vietnam's rice exports to Malaysia records impressive growth of 9.4%, bringing in nearly 400 million USD. (Photo: https://vneconomy.vn/)
This also demonstrates that Vietnamese goods have successfully carved a niche in the Malaysian market, which boasts a rich diversity of culture, religions, and cuisine, he told the Vietnam News Agency.
According to the official, Malaysia imports a significant amount of rice due to unfavorable conditions for cultivation.
Statistics from the General Department of Vietnam Customs show that bilateral trade hit 11.8 billion USD in the first 10 months of 2024, with Vietnam's exports amounting to 4.2 billion USD, a slight increase compared to the same period in 2023. Notably, rice exports to Malaysia recorded impressive growth of 9.4%, bringing in nearly 400 million USD.
Vietnam also ships other agricultural products to the Malaysian market such as coffee, cashew nut, dragon fruit, chilli, and lime.
Many distinctive products from Vietnam, including rice, coffee, rice paper, noodles, dried vermicelli, as well as various herb vegetables and spices, are now available in long-established supermarket chains in Malaysia such as NKS and Jaya Grocer.
Cuong said Malaysia's demand for food imports remains high while Vietnam is capable of meeting this demand but faces intense competition from other countries. Therefore, it is necessary to strongly invest in and implement trade promotion measures to introduce Vietnamese goods to more Malaysian consumers.
The Vietnam Trade Office in Malaysia has carried out many activities to support businesses, especially updating Vietnamese agencies, localities, associations, and businesses trading with Malaysia on this market's trade policies, he said.
It has also enhanced connections with the Malaysian business community and Vietnamese firms operating there to seek and introduce trade partners to enterprises in the homeland. Besides, it has supported Vietnamese companies to connect with potential customers and make inroads into the Malaysian market, Cuong went on.
The counsellor predicted that the two-way trade is able to hit 18 billion USD in 2025, driven by Malaysia's bright economic outlook and the possibility of Vietnam's improved exports to Malaysia in the coming time./.
VNA
