IKMIB Reaches Out to Vietnam and Thailand

İKMİB Trade Mission to Vietnam and Thailand The Istanbul Exporters Association of Chemical Substances and Products (İKMİB) organized a "Chemical Sector Vietnam-Thailand Sectoral Trade Mission." The mission, held in Ho Chi Minh City, Vietnam and Bangkok, Thailand, was attended by 54 representatives from 29 Turkish companies. Over the four-day event, more than 430 bilateral business meetings took place. The Vietnam-Thailand mission was the third sectoral trade mission organized by İKMİB covering all subsectors of the chemical industry. The "Chemical Sector Vietnam-Thailand Sectoral Trade Mission," arranged to increase chemical sector exports, expand export markets, and increase market share in existing markets, took place between 12-18 December 2022 in Ho Chi Minh City and Bangkok. The event, led by İKMİB Management, was attended by 54 representatives from 29 Turkish companies operating in six sectors: pharmaceuticals-food supplements, medical, cosmetics-cleaning, plastic household and kitchen goods, and chemical raw materials. During the event, 200 business meetings were held with 58 Vietnamese buyers in Vietnam, and over 230 business meetings were held with over 60 Thai buyers in Thailand.

Adil Pelister: "Our sector's exports to Vietnam and Thailand have increased"

İKMİB Board Chairman Adil Pelister stated: "We held the third of our chemical sectoral trade missions to Vietnam-Thailand. In 2022, Vietnam is one of Southeast Asia's fastest-growing ASEAN member countries (7% growth) with a population of 99 million and GDP of USD 414 billion. Since the period following the war (1955-1975), Vietnam has achieved significant milestones in its economy and integration into the international system, reaching a remarkable average annual economic growth rate of 6.7% over the past 20 years. Vietnam, ranked 70th in the World Bank's 'Ease of Doing Business' index, is home to approximately 98.3 million people and ranks as the world's 15th most populous country. Our chemical sector exports to Vietnam stood at USD 68.2 million in 2019, rising to USD 74.7 million in the eleven-month period of 2022, representing a 3% increase compared to the previous year. The top three product groups we exported to Vietnam were inorganic chemicals at USD 30.3 million, pharmaceutical products at USD 19.9 million, and plastics and plastic articles at USD 14.7 million. Our sector's exports to Thailand rose from USD 60 million in 2019 to USD 81.2 million in the ten-month period of 2022. This represents an 18% increase compared to 2021. The top three product groups we exported to Thailand were inorganic chemicals at USD 54.1 million, pharmaceutical products at USD 7.2 million, and paints, varnishes, inks and related products at USD 6.7 million. We believe that through the sectoral trade missions we organize, our exports to these markets will increase further. As İKMİB, we will continue to support activities aimed at increasing our sector's exports."

Information obtained on medical product licensing in Vietnam

During the Vietnam program, Hanoi Trade Advisor Burak Cihan Ürkmez visited the delegation on the bilateral business meetings day, offering companies his best wishes. In addition to bilateral business meetings held in Vietnam and Thailand, market visits at the event provided information on sales channels and price levels. Information on medical product licensing procedures was obtained from Bạch Minh Hùng, an official at Vietnam's Ministry of Health Medical Department. Turkish exporting companies conducted visits to wholesale companies, retail and wholesale chains following bilateral business meetings, gathering information on market entry conditions and trends. At a meeting held on 15 December 2022 with the participation of Thailand Industries Federation Vice Chairs Arin Jira and Petcharat Eksangkul and Thai Chamber of Commerce President Rakesh Singh, views were exchanged on possible contributions to bilateral trade. On the same day, the delegation met with the Thai Cosmetics Cluster organization to obtain information on Thailand's cosmetics sector needs and market entry requirements. As part of the program, Turkey's Ambassador to Bangkok, Serap Ersoy, visited the Turkish delegation and offered congratulations.