What do U.S. and South Korean companies want to buy from Vietnam?

Vietnamese companies are being urged to move beyond simply finding buyers and use international trade links to secure better materials, machinery and production partnerships.

Speaking during the Vietnam International Sourcing Expo, held from September 3 to 5, Deputy Minister of Industry and Trade Phan Thị Thắng said the event had brought more international companies and a wider range of sectors. That expansion, she said, gives domestic businesses more chances to find partners, access technical solutions and improve their capabilities.

For products that already generate substantial export revenue, Thắng said Vietnam should diversify markets and increase added value. The goal is not only to sell goods, but also to find suppliers of high-quality raw materials, machinery and equipment for domestic production.

Vietnam’s trade representative in South Korea, Phạm Khắc Tuyên, said bilateral trade had grown strongly. Textiles, footwear, agricultural products and seafood all have room to expand, particularly because Vietnamese agricultural and seafood products account for only about 3% of South Korea’s total imports in those categories. He also pointed to potential in industrial value chains, energy, machinery manufacturing and shipbuilding.

The United Kingdom is seeking products with sustainability, social-responsibility and environmental credentials, according to trade representative Lê Đình Bá. In the United States, Vietnamese textiles, footwear and furniture already have large and growing export values, but companies face intense competition and rapidly changing market policies. They need stronger competitiveness and risk management, especially in records, documentation and raw-material compliance, to avoid unfavorable allegations in the importing market. The Industry and Trade Ministry is also working with local trade-promotion centers to support more small and medium-sized enterprises at exhibitions and expand commercial opportunities.

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For products that already have high export sales, we aim to diversify markets and increase added value. The goal is not only to sell goods, but also to find suppliers of high-quality raw materials, machinery and equipment for domestic production.