The consortium aims primarily to provide programs, technical assistance and expertise to support farmers and other actors in the aforementioned segments of the Vietnam economy expand their export sales.

It will provide financing, export consulting, training, translation and interpreting services; assistance with transport, logistics, compliance and regulatory issues; and joint advertising and market research, among other services.

The main advantage of creating a consortium is to allow the companies to share the risks in such an undertaking, the companies told reporters on July 29 in making the announcement of the pact.

While consortiums are commonplace around the globe they are a relatively new phenomenon in Vietnam, they noted.