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Commerce Department planning Vietnam trade mission
By Dan McCue
Staff Writer
The S. C. Department of Commerce is planning a trade mission to Vietnam next fall, a junket state officials said will offer South Carolina businesses their first formal introduction into Southeast Asia’s most rapidly growing market.
Gregory Guest, Asia Pacific Trade Manager at the Commerce Department, said the mission, which was actually in the works prior to Vietnam’s admittance into the World Trade Organization in January, is scheduled to extend from Oct. 29 to Nov. 2.
Arrangements are being handled by the department in collaboration with the U.S. Commercial Service.
“I was in (Vietnam’s capital) Hanoi last fall for a catalog show set up by the U.S. Embassy, and based on what I saw and heard, I’m sure the opportunities for South Carolina-based companies are tremendous,” Guest said.
“As a result of the war, it’s one of those economies that U.S. companies have left largely untouched, but today it’s second only to China in the Far East in terms of percentage of annual growth. All we need now is for the right companies to find the right opportunities.”
According to the Vietnam Trade Ministries Web site, imports into the country rose 30.8% in the past year, reaching $3.4 billion in January.
Chief imports included petroleum and oil products, steel, medical supplies, textiles, electronics and vehicles.
The ministry is also anticipating a robust export trade to the United States and Europe in 2007, forecasting a 35% rise in exports to the U.S. from last year to $11 billion, with revenues from goods sold in Europe rising 22% to $8.3 billion.
Guest said his hope is to have between five and eight companies participate in the trade mission. Those that do will be guaranteed one-on-one meetings with pre-qualified potential trade partners in both Hanoi, a city he likened to Charleston in terms of size, and Ho Chi Min City, the nation’s commercial hub.
“We’ll be having conference calls between the companies several months before we travel to help solidify relationships and determine where the best fits are,” he said. “One of the interesting things about Vietnam is the number of young people you see while traveling there and how polite and friendly they are. Seventy to 80 percent of the population is under 35.
“And they’re very Americanized. At rush hour the streets are filled with mopeds, and everyone you see has all these gadgets, cell phones, iPods, and so on. I have a feeling that 25 to 30 years from now Vietnam will be a fairly rich country.”
For further information on the upcoming trade mission to Vietnam, contact Gregory Guest at the S.C. Department of Commerce at (803) 737-0651 or by e-mail at gguest@sccommerce.com, or Jayne Woodward at the U.S. Commercial Service at (803) 732-5214 or by e-mail at jayne.woodward@mail.doc.gov.
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