Many leading Latin American supermarkets "flock" to Vietnam to seek sources of goods

DNVN - After signing many specific orders with Vietnamese suppliers at Viet Nam International Sourcing 2023, a series of leading distributors and retailers in the Latin American region have registered to attend and have high expectations for purchasing large quantities of diverse product groups at this year's event.

According to information from the Organizing Committee of the event series "Connecting international supply chains" (Viet Nam International Sourcing 2024), Falabella is currently the largest retailer in Latin America with a system of 577 stores and shopping centers operating in Chile, Argentina, Brazil, Colombia, Mexico, Peru, Uruguay.

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 the Latin American region.

According to Falabella's purchasing representative, one of the highlights of the "Connecting international supply chains" event series is the dynamism of the trading sessions connecting buyers and domestic suppliers.

This year, the group expects to expand its purchasing into areas ranging from textiles, footwear, sportswear to household appliances and household goods.

Many leading Latin American supermarkets want to find supply partners in Vietnam.

As for Mexico's Coppel Group, this famous retailer currently has a need to import up to 500,000 car tires annually to serve domestic consumption needs. Coppel is also particularly interested in products originating from Vietnam such as fashion clothing, footwear, technology accessories, and home furniture to diversify the supply source for more than 1,600 branches in Mexico and 27 stores in Argentina.

In the Venezuelan market, among the businesses interested in participating in Sourcing 2024, 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.

The company representative said that the company wants to find sustainable partners in Vietnam, especially in the field of sulfonic acid and phosphoric acid production.

In addition, the US Walmart group with a series of supermarkets in Latin America said that at Viet Nam 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.

With 33 countries and a population of over 670 million people, Latin America has an import demand of nearly 1,500 billion USD. This is a potential market for Vietnam's exports.

Recently, trade and investment relations between Vietnam and Latin America have been constantly developing and expanding. 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 trade 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 with 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.

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.

The event series “Connecting international supply chains” 2024 is an event organized by the Ministry of Industry and Trade in coordination with the People’s Committee of Ho Chi Minh City from June 6-8 at the Saigon Exhibition and Convention Center (SECC). The event has the participation of 500 enterprises representing different fields in the international supply chain.

Moonlight

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