Leading Latin American supermarkets flock to Viet Nam International Sourcing 2024

Following the success of the Sourcing event series in 2023, Falabella Group - the largest retailer in Latin America with a system of 577 stores and shopping centers operating in Chile, Argentina, Brazil, Colombia, Mexico, Peru, Uruguay continues to express great expectations for the event series "Connecting the international supply chain of goods in 2024".

The Group's purchasing representative said that in 2023, the Group sent a purchasing team to attend Viet Nam International Sourcing and immediately found a supplier in Vietnam in the field of clothing and sports equipment. Thereby, bringing Made in Viet Nam products directly to 35 million regular customers in the company's store system in this market.

Evaluating the program, this representative also added that one of the highlights of the event series is the dynamism of the trading sessions connecting buyers and domestic suppliers. This year, the unit expects to expand its purchasing to areas from textiles, footwear, sportswear to household appliances and household goods.

Các đại siêu thị hàng đầu tại Mỹ La tinh ồ ạt đổ bộ Viet Nam International Sourcing 2024

Many distribution systems have immediately found supply partners in Vietnam in the event series Viet Nam International Sourcing 2023

In the Venezuelan market, among the businesses interested in participating in Viet Nam International Sourcing, Latiquim CA Group has emerged as a reputable and potential focal point for domestic chemical raw material suppliers. This is a "giant" with an overwhelming market share in the domestic market in the field of manufacturing and distributing chemical products for the food and beverage industry. Ms. Maria Horta - Representative of Latiquim CA said that the company wants to find sustainable partners in Vietnam, especially in the field of producing sulfonic acid and phosphoric acid.

In addition, the US Walmart group with a series of supermarkets in Latin America said that at Vietnam International Sourcing 2024, the company will focus on purchasing textiles, footwear, interior and exterior furniture, household goods, toys, and frozen foods... to serve the needs of consumers in the region.

Assessing the potential of the Latin American market, the Department of European and American Markets, Ministry of Industry and Trade said that with a population of over 670 million people, GDP of about 6,500 billion USD, and import demand of up to nearly 1,500 billion USD, Latin America is a promising market for Vietnam's exports.

Over the years, trade and investment relations between Vietnam and Latin America have been continuously developed and expanded. In just 5 years, two-way trade turnover has increased by one and a half times, from 14.2 billion USD in 2018 to 20.6 billion USD in 2023. Notably, in addition to the markets with the leading exchange turnover in the region such as Brazil, Mexico, Argentina, Chile, many emerging markets such as Panama, Colombia, Peru have become bright spots in Vietnam's trade exchange with Latin America. Accordingly, these markets have had impressive growth rates in recent years.

“Vietnam and Latin America have a complementary import-export structure. Latin America is not only a potential export market for Vietnam's strong products such as textiles, footwear, agricultural and aquatic products, etc., but also an important supplier of raw materials for Vietnam's manufacturing industry with strong products such as corn, soybeans, animal feed, etc. In addition, the standards for imported goods into the Latin American market are mostly not too strict, suitable for many types of goods originating from Vietnam,” the European - American Market Department acknowledged.

Along with major retailers in Latin America, many distributors from all continents expect that with the number of participating businesses and the scale nearly doubled compared to the first time, the upcoming event series "Connecting the international supply chain 2024" will find more strong products of Vietnam to bring into the system and export.

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