TVFood attended to Vietnam - Hong Kong SAR B2B Rice Trade Networking

TVFood Co., Ltd. is honored to attend to Vietnam - Hong Kong Sar B2B Rice Trade Networking 2023, organized by the Vietnam Food Association in collaboration with the Ministry of Industry and Trade, Consulate General of Socialist Republic of Vietnam in the Hong Kong SAR and The Rice Merchants' Association of Hong Kong Ltd. The event took place on April 19, 2023 in the Hong Kong Special Administrative Region (China).

The purpose of this event is to maintain bilateral relations in the rice sector, while promoting the promotion of high-quality Vietnamese rice products to the Hong Kong market. 25 large rice and agricultural product exporters of Vietnam along with more than 30 enterprises in the rice business of Hong Kong participated in this Rice Trade Networking event.

At the event, Mr. Tran Quoc Toan (Deputy Director of the Import-Export Department under the Ministry of Industry and Trade) said that Vietnam has always been in the top 10 largest trading partners of Hong Kong for many years in a row. In 2022, the total trade turnover between the two sides reached nearly 10.9 billion USD, decreased 6% compared to 2021. In the first 3 months of 2023, the turnover reached 2.5 billion USD, went down 28% over the same period year 2022.

In terms of rice, by the end of March 2023, Vietnam exported more than 16 thousand tons to Hong Kong, equivalent to the same period last year.

Representative of the Vietnam Food Association, Ms. Ta Thu Thuy, said that Hong Kong is one of the traditional niche markets of Vietnamese rice with modest consumption but the purchasing power has always remained stable over the years.

In recent years, the economy has faced many difficulties, but the rice trade between Vietnam and Hong Kong is still going quite smoothly, hopefully favorable conditions will be created for rice importers and exporters of the two countries.

According to Mr. Kenneth Chan (Chairman of The Rice Merchants' Association of Hong Kong Ltd.), Vietnam is one of the major grain exporters in the world, and the second largest rice exporter to the Hong Kong market.

He added that from 2008 to 2013, Vietnam's rice market share in Hong Kong increased from 0.5% to 42%, showing the high competitiveness and adaptability of Vietnamese rice. Currently, about 24% of rice imported into Hong Kong is from Vietnam, it is hoped that the bilateral cooperation between the two sides will be maintained and developed more in the future.

TVFood Co., Ltd had the opportunity to display our high-quality rice products at this event, as well as seek opportunities to connect and expand the market in Hong Kong. This is a great opportunity to meet, connect and collaborate with partners in the rice sector of Hong Kong.

Here are some pictures from the event: