On September 28, 2023, the Ministry of Industry and Trade organized a trade promotion conference with the system of foreign trade agencies in September 2023 with the theme "Export promotion of cinnamon, anise and medicinal plants".

Attending the conference were delegates from agencies under the Ministry of Industry and Trade, Trade Offices, Vietnam Trade Office Branches, Vietnam Trade Promotion Offices abroad, Department of Industry and Trade, Department of Agriculture and Development Rural areas, industry associations, businesses and news and press agencies register to attend.

The conference took place in a combination of live and online methods, to create favourable conditions for a large number of delegates from overseas Vietnamese Trade Offices, relevant agencies and businesses from 63 provinces and cities nationwide. participating country.

Realizing many potential and advantages of this issue, on the world map of medicinal herbs, Vietnam is considered to have diverse sources of medicinal herbs; The ratio of rare natural medicinal herbs is still quite abundant. According to statistics, our country currently has over 5,100 species of medicinal plants. With this medicinal source, Vietnam has many potentials and advantages to develop medicinal herbs into an economic industry. As for cinnamon, the cinnamon area in Vietnam currently reaches about 150,000 hectares, accounting for 17% of the global cinnamon area. Currently, Vietnam is the world's third-largest producer and exporter of cinnamon in terms of output, after Indonesia and China. Anise is a native plant that very few countries possess, the majority being Vietnam and China.

Items and products from cinnamon, anise and medicinal plants are increasingly receiving attention and expanding export markets due to changes in consumer awareness, opinions and tastes towards green lifestyles, clean, good for health and help increase immunity. Besides, it can be mentioned that the strong development of the pharmaceutical manufacturing industry, functional foods, food processing, cosmetics, and pharmaceuticals globally is widely used in Vietnamese cuisine in many countries.

Currently, Vietnamese cinnamon and anise are strongly consumed in many regions of South Asia (such as India, and Bangladesh), the Middle East (UAE, Pakistan), East Asia (Japan, Taiwan - China, Korea), America and countries of the European Union - EU. With the trend of increasing demand for raw materials in the food, cosmetics, and pharmaceutical industries... and many free trade agreements being signed, Vietnamese cinnamon and anise products have more motivation and opportunities. develop.

India is the world's leading consumer of cinnamon and anise products and is also a major producer of medicinal herbs. Currently, Vietnam dominates the Indian market with more than 80% of cinnamon and anise imports. Vietnam is the largest supplier of cinnamon products to this market. In the fiscal year 2022 - 2023 alone, Vietnam exported 32,650 tons of cinnamon, accounting for 85% of India's cinnamon imports.

In the United States, cinnamon and anise are potential export products of Vietnam in this market. In 2022, Vietnam's cinnamon export turnover to this country will reach about 50 million USD, accounting for 35% of the total cinnamon import turnover of the United States.

Another potential cinnamon import market is Pakistan. In 2022, Pakistan will import 7,000 tons of cinnamon, of which Vietnamese cinnamon accounts for more than 4% of the market share. Cinnamon exports from Vietnam to Pakistan increased by more than 200% in 2022 compared to 2021.

In the coming time, to increase opportunities and create conditions to promote the export of Vietnamese cinnamon, anise and medicinal plant products to the international market, the Ministry of Industry and Trade has raised 5 groups of problems that need to be resolved, including are: Promoting product research and development activities, preserving genes and rare varieties of medicinal herbs; human resource training; promote joint ventures and partnerships, develop export markets; building brands for products and the Vietnamese pharmaceutical industry; develop logistics services; Planning large raw material areas to create commercial output large enough to serve export.

According to moit.gov.vn