Major distributors and retailers in Latin America have registered to attend the “International Supply Chain Connection – Vietnam International Sourcing 2024” event, according to the Ministry of Industry and Trade, with high expectations for purchasing a wide range of goods in large quantities.
Falabella is one of the major retailers traveling to Vietnam in search of suppliers. Falabella is the largest retailer in Latin America, with 577 stores and shopping centers in Chile, Argentina, Brazil, Colombia, Mexico, Peru, and Uruguay.
In 2023, the corporation sent a purchasing delegation to “Vietnam International Sourcing 2023,” where they immediately partnered with a Vietnamese company to provide clothing and sporting goods.
(Photo: TL) Vietnamese clothing is one of the product categories that Latin American retailers wish to find a major supplier for at the 2024 international supply chain connection event.
Through the retailer Falabella, Vietnamese products now reach 35 million regular customers in the Latin American store network. According to a purchasing representative from the corporation, Falabella hopes to increase its purchases this year in the areas of textiles, footwear, sports equipment, home appliances, and home furnishings.
The Mexican retail conglomerate Coppel, on the other hand, seeks to import up to 500,000 automobile tires annually. Coppel is also particularly interested in Vietnamese-made products like stylish clothing, shoes, technology accessories, and home furnishings for its more than 1,600 locations in Mexico and 27 in Argentina.
Latiquim C.A. – a leading producer and distributor of chemicals for the food and beverage industries with a dominant market share in Venezuela – said it seeks a long-term partner in Vietnam, especially in the production of sulfonic acid and phosphoric acid.
Walmart, with a series of supermarkets in Latin America, stated that this year it will concentrate on purchasing textiles, shoes, home and outdoor goods, home appliances, toys, and frozen food products from Vietnam to satisfy demand in the Latin American region.
(Photo: MPG) Vietnamese frozen food is always in high demand by foreign importers among export categories.
With 33 nations, a population of over 670 million people, and import needs totaling approximately USD 1,500 billion, Latin America offers a promising market for Vietnamese exports. Bilateral trade between Latin America and Vietnam has increased by 50% in the last five years, from USD 14.2 billion in 2018 to USD 20.6 billion in 2023.
Vietnam and Latin America have complementary export-import product categories. Latin America imports major Vietnamese products like textiles, footwear, and agricultural products.
Latin America also provides Vietnam’s manufacturing sector with critical raw materials like corn, soybeans, and animal feed. Import standards for Latin American markets are generally not overly stringent, making them compatible with many Vietnamese-made goods.
The “International Supply Chain Connection” event series is organized by the Ministry of Industry and Trade in collaboration with the Ho Chi Minh City People’s Committee. It will take place June 6-8 at the Saigon Exhibition and Convention Center. It is open to 500 businesses representing various sectors of the international supply chain, with a focus on five industries: food, textiles, footwear, backpacks, handbags, sporting and outdoor goods, home furnishings, and décor. The event is expected to draw 10,000 visitors and professionals from 30 different nations and territories.
Notably, major global corporations like Aeon, Uniqlo (Japan); Walmart, Amazon, Safeway (USA); Carrefour, Decathlon (France); Central Group (Thailand); IKEA (Sweden), and others will be present at this event to participate in business networking activities.
