Sharing online with delegates attending the Forum "Connecting overseas businesses, promoting trade and investment in the agricultural industry" on the evening of February 14, Ms. Jolie Nguyen, CEO of LNS US LLC - USA, said that the United States of America is a huge and very potential market for Vietnamese agricultural products. Screen shot.
Sharing experiences to bring agricultural products to the US market and how to support domestic businesses in accessing this market, Ms. Jolie Nguyen, CEO of LNS US LLC - USA, said that the United States is one of the most important countries in the world. huge market with 333 million people.
The US market requires quality, high standards for imported products, and food and pharmaceutical products are all controlled by the US Food and Drug Administration (FDA). This market also has consistency in products and is a large playing field with a highly competitive nature.
“The fact that China is gradually being excluded from the US market is a great opportunity for Vietnam because the purchasing power of the US market is very large and prices are on an uptrend. In addition, the needs and consumption habits are diverse, the environment and policies are very favorable," said Ms. Jolie Nguyen.
According to the General Statistics Office, in 2021, Vietnam's goods exports to the US reached a turnover of 100 billion USD, up 22.2% over the same period last year.
Particularly for agricultural products, the US has become Vietnam's largest import market with a turnover of nearly 11.9 billion USD, accounting for 27.5% of Vietnam's agricultural export market share through markets.
Jolie Nguyen also said that although the consumer demand for tropical agricultural products from Vietnam is increasing, the US market has high standards, requiring businesses to do long-term, methodical, and committed business. Quality comes first.
Besides, in the agricultural product group, potential groups such as furniture, seafood, rice, coffee, and vegetables are still modest, so businesses have many opportunities and should take advantage to promote them. exports of goods.
Sharing about the challenges in exporting agricultural products to the US market, Ms. Jolie Nguyen said that Vietnam is facing fierce competition from Thailand, Taiwan, Mexico, etc. The US agricultural product market is also very strong. although only 17% of the population is engaged in agriculture.
"American agriculture is applied with high and improved technology, reducing the number of direct workers but increasing the quality and output. Vietnam is currently facing difficulties in preserving during transportation because of geography far away, cannot keep the original intact quality, especially fresh products do not keep freshness for a long time and lose quality", said CEO of LNS US LLC - USA.
Wood processing workers at Minh Thanh Company (Dong Nai). Photo: Cao Cam.
Accordingly, Ms. Jolie Nguyen said that businesses need to understand state and federal laws and industry-specific regulations in the US market. Before entering a new market, businesses need to fully research, especially niche markets, position themselves and properly assess the potential of their products in the market to stabilize.
“If it is not possible to develop the market with their own brand, businesses can participate in an existing distribution system, according to the distributor's standards. At the same time, learn about strategic partners, national agreements and agreements for product lines to receive preferential tariffs and procedures", Ms. Jolie Nguyen shared her experience.
In addition, units need to monitor traceability clearly and transparently, comply with regulations on labeling, packaging, food hygiene and safety as prescribed. Technical standards and criteria must be well controlled to meet customer satisfaction and needs well by monitoring the quality process, packaging, appearance and uniformity, quality stability in the segment. i have chosen.
