Vietnam’s export of plastic materials to Turkey has soared in recent years and the country is attempting to further step up shipment to the market of 75.6 million people.
In 2011, the export turnover of plastics reached only 7.1 million USD, but that nearly tripled to 20.7 million USD in 2013, which was a year-on-year increase of 17.6 percent.
Although the figure touched 7.4 million USD in the first four months of 2014, down 14 percent, it is expected to rebound in the remaining months of the year, as there is an upward demand for imported plastic materials in the Turkish market.
Turkey annually spends more than 10 billion USD purchasing plastic materials from more than 100 countries and territories around the world. Up to 63 percent of the total volume of imported plastic materials are from Saudi Arabia , Germany , Belgium , the Netherlands and the Republic of Korea.
According to the Import-Export Department under the Vietnamese Ministry of Industry and Trade, Turkey is in high need of plastic materials for its construction, automobile industry, packaging and household goods production, because its plastic material production only meets 15-20 percent of the amount required by its market and foreign importers.
Vietnam is named in the list of Turkey ’s key plastic material providers. The country’s export to Turkey is rising but makes up only 0.1 percent of its total import turnover of the product.
Thus, Vietnamese firms have targeted increasing their market research and trade promotion activities, seeking additional Turkish trading partners in order to bring the exports of the product to a new level, according to the department.
VNA
