The fact that China and India - two of the world’s major supply markets - are sourcing Vietnamese products demonstrates the significance of the changes underway in the global supply of resources.

The search rate for Vietnamese products on Alibaba.com originating in China alone increases by 2 percent year-on-year.

Apart from its daily online transactions, Alibaba.com has recently dealt directly with major global groups’ demand for Vietnamese suppliers working in a variety of sectors. The global groups, primarily the world’s leading retailers, include Kmart, Carrefour, OfficeMax, and Walmart. Vietnamese products are evidently seizing the attention of the international consumer.

Tran Dinh Toan, Deputy Director of investment and technology joint stock company OSB, is optimistic about the e-commerce future for Vietnamese products.

Statistics from B2B Alibaba.com indicate Vietnam places in the world’s top ten most sought after markets.

There are already 230,000 Vietnamese Alibaba.com members, eager to exploit the nearly unlimited opportunities to find customers via the e-commerce channel.

Toan stressed the capacity for sellers to connect directly with potential buyers through the website. He feels savvy businesses should be able to take advantage.

A survey conducted by Nielsen, a global information and measurement company, reveals Vietnamese buyers prefer to connect directly with prestigious producers without going through a middleman.

Vietnamese businesses are thus able to transport their products to large markets without exporting to a third country.

The economic slowdown has meant quality and reasonable prices are even more important to the importers who select their goods and resources from the range of countries that can meet their stringent demands,

Pho Nam Phuong, Director of the Trade and Investment Promotion Centre in HCM City, agrees e-commerce could encourage an export surge. She argues, however, that developed country markets are still difficult to penetrate, mostly because of the stricter application of trade barriers. Vietnamese businesses sometimes also struggle with correctly ascertaining the desires of global importers.

Experts urge businesses to remember the unique speed of the e-commerce environment and recognise the need to give customers regular and rapid feedback. Without constant two-way communication, the potential of the e-commerce search channel can never be properly realised.

Vietnamese businesses must also protect themselves against trade frauds plaguing e-commerce floors. Swindlers from new markets have previously committed trade frauds involving tens of millions of US$. Vietnamese businesses number among their victims, sometimes losing tens of thousands of US$ in hasty transactions with partners who have not been properly verified.

Incomplete statistics from the African, West and South Asian Markets Department in the Ministry of Industry and Trade show that since 2011, Vietnamese businesses have sent 70 letters to regional trade offices requesting verification of the identities of their partners. All the results of those requests found the partners to be fraudulent.

Ly Quoc Hung, Head of the African, West and South Asian Markets Department, says that maintaining long-term trade links will require Vietnamese businesses to study the business traditions of Africa and the Middle East, meet potential partners in person, and carefully consider products before buying.

Hung also urges Vietnamese businesses to participate in exhibitions, fairs, and trade promotion programmes in partner countries, assiduously comply with relevant regulations and legislation, and always verify the identities of the businesspeople involved.

Source: VOV