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Two Italian retailers to stock Vietnamese goods

Released at: 12:06, 07/06/2016

Two Italian retailers to stock Vietnamese goods

Photo: Viet Tuan

Deals stem from MoIT visit to Italy and France to promote Vietnamese goods.

by Hoang Huong

Two Italian retailers - Coop Italia and Conad - have agreed in principle to allow Vietnamese goods to be sold on their shelves, the Ministry of Industry and Trade (MoIT) has announced.

This was a major outcome of trips made to Italy and France from May 28 to June 5 by an MoIT delegation led by Deputy Minister Ho Thi Kim Thoa under the 2016 National Promotion Program and a plan to assist Vietnamese enterprises to directly participate in foreign retail distribution networks to 2020.

Deputy Minister Thoa met a number of Italian retailers, such as LegaCoop, Coop, Conad and others. “This is the first time MoIT has held such a major campaign overseas, with a wide range of meetings and goods introduction and marketing,” she said. “We want to sell ‘Made in Vietnam’ goods in this major market.”

The two Italian retailers are seeking seafood, foodstuffs, garments and textiles, and footwear. Vietnamese enterprises visited the Ipermercato supermarkets of Coop, worked with the distribution directors of the retailers and agreed to cooperate and sell Vietnamese goods in the supermarkets of Coop Italia and Conad.

Coop Italia and Conad are leading supermarkets and shopping centers in Italy with a market share of 20 per cent and 12 per cent, respectively.

Vietnam’s exports to Italy earned $762.41 million in revenue in the first quarter of this year, up nearly 16 per cent year-on-year, according to Vietnam Customs. Key commodities were telephones and components, accounting for 40 per cent, footwear 9.5 per cent, and coffee 9.4 per cent.

Seafood is considered to have great potential in the market, growing 26.75 per cent year-on-year in the first quarter.

Vietnam’s imports from Italy, meanwhile, grew 3.8 per cent to $335.68 million in the first quarter.

Key commodities were machinery and equipment, with 41.6 per cent of the total, materials for garments, textiles, leather and footwear 14.8 per cent, and medicine 13.1 per cent.

Figures from the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) showed that in the first quarter Italian enterprises invested $22.8 million in Vietnam, up nearly 18-fold compared to the first quarter of 2015.

The delegation also visited France and met with some of the country’s retailers. Vietnam imported $246.6 million worth of goods from France in the first quarter, down 26.8 per cent year-on-year, while exporting $672.4 million, an increase of 4.3 per cent.

Main exports included footwear and garments and textiles, accounting for 16.8 per cent and 10.4 per cent, respectively. The key import, meanwhile, was medicine, accounting for nearly 30 per cent of the total import value.

French investment in Vietnam during the first quarter reached $41.8 million, according to the FIA.

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