VIETNAM: Argentina and Brazil set to increase rubber imports from Vietnam
Source: Daily "Vietnam News", Hanoi; 17 Nov 2005
Argentina and Brazil expressed interest in importing Vietnamese rubber products following a five-day trip to the two countries by a Viet Nam General Rubber Corporation (GERUCO) delegation.
The delegation, headed by GERUCO Management Board member, Le Van Mung, met with businesses in each country during the November 8-12 trip with the aim of developing new export markets for Vietnamese rubber products. The Vietnamese side also discussed investment, trade promotion, and economic policy management issues with its South American counterparts.
The delegation made contacts with representatives of importers, distributors and manufacturers of rubber products as well as some local wood producers. The Vietnamese group visited a Brazilian trading centre for agricultural and natural resource products, the Sao Paulo Securities Market, as well as the Sao Paulo Chamber of Commerce.
The delegation showcased the development of Viet Nam’s rubber industry as well as the sector’s current products. The Vietnamese side also discussed policies and strategies being implemented to develop the sector through 2010.
South American rubber industry experts said Viet Nam’s rubber exports could be competitive and gain tremendous market share in South America due to their high quality and competitive price. Accordingly, Argentine and Brazilian businesses said they intended to expand imports of rubber products from Viet Nam following the trade mission.
GERUCO has produced 164,700 tonnes of rubber latex, nearly 60 per cent of its annual target, through the third quarter. While the company has exported 4,967 tonnes of rubber, valued at US$7 million, so far this year, the global price of rubber latex has fallen by an average of $21 per tonne, to $1,416, compared to last year. Penetrating overseas markets such as Argentina and Brazil would thus expand GERUCO’s profit base.
(Syed Rashid Ali, Karachi, Pakistan)