After the military conflict in the Middle East broke out, the global economy began to suffer clear impacts, in which import and export is one of the sectors most heavily affected. As an economy with great openness, Vietnam is difficult to avoid the impacts from this conflict vortex. In fact, many businesses have begun to clearly feel the pressure when logistics costs increase, transportation time is prolonged and train schedules are disrupted. However, in the context of many fluctuations, some export businesses still see opportunities to access and expand markets.
At a seminar on import and export organized by Vietgo Export Promotion Company on the afternoon of March 13, Mr. Nguyen Tuan Viet - Director of Vietgo Export Promotion Company informed that the group of fresh agricultural products, especially fruits with a short shelf life, is recording a strong increase in demand from the international market.
In recent times, the surge in fresh agricultural product orders reflects the demand for alternative supply from many markets, especially Europe" - Mr. Viet said.
According to Mr. Viet, the main reason is that supply from the Middle East and some neighboring countries is disrupted. Previously, countries like Israel or Iran had strengths in high-tech agriculture and were suppliers of many clean agricultural products to the European market thanks to their close geographical distance and low transportation costs.
However, when conflict occurs, production and transportation activities in this area are affected, causing many markets to seek alternative sources of supply. Not only agricultural products, many industrial sectors of Vietnam are also recording positive signs. Items such as textiles, plastics, blankets, sheets, pillows, furniture - exterior and footwear are forecast to increase in demand when some traditional sources of supply are interrupted.
The market is also recording fluctuations in some specific commodity groups such as gasoline, medical supplies or logistics services related to humanitarian crises. These changes show that the structure of global commodity demand is clearly shifting in the context of geopolitical instability.
At the workshop, Mr. Ha Quang Vu - representative of Ha Quang Import-Export Company said that the Middle East region always hides many unpredictable fluctuations. Therefore, for businesses that have not yet adapted, these fluctuations can become major challenges. However, in danger there is always an opportunity, geopolitical fluctuations sometimes open up opportunities for businesses to know how to seize.
He cited that although the Russia-Ukraine conflict has not ended so far, the demand for industries serving reconstruction, especially the wood industry, has increased sharply. In that context, Vietnam's wood industry has recovered and developed quite well, while the demand for wood furniture consumption in the international market is still high.
Some people will see difficulties when looking at fluctuations, but for export businesses that know how to adapt, it is an opportunity to find new markets and increase orders" - Mr. Vu said.
Mr. Vu believes that it is not accidental that domestic import-export enterprises can turn "danger" into opportunity. Because Vietnam currently has many advantages to expand exports, including a favorable maritime position and a network of free trade agreements (FTAs) with many large markets.
