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Open the "door" to bring Vietnamese goods to the world

09:55 | 11/10/2022

VCN - In the first nine months of 2022, the country's trade balance of goods continued to have a trade surplus, reaching US$6.52 billion, nearly doubling the same period last year. Despite the positive results, difficulties are still ahead, so trade promotion needs to be more focused than ever.

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Many trade promotion programs have been held directly as soon as the pandemic was basically under control. Photo: H.Deu
Many trade promotion programs have been held directly as soon as the pandemic was basically under control. Photo: H.Diu

Increase connection; create a position in the market

Currently, there are still many advantages for Vietnam's exports, helping the export turnover of goods in the past 9 months to reach US$282.52 billion, up 17.3% over the same period last year.

According to the assessment from the Ministry of Industry and Trade, the advantage is that from the beginning of the year, the Regional Comprehensive Economic Partnership (RCEP) came into effect with the active participation of China, which should help Vietnamese businesses with sources of cheaper input materials, thereby producing goods for export to major markets in Europe, US, etc., which can increase profits and market share.

In addition, new-generation Free Trade Agreements (FTAs) such as EVFTA and CPTPP have entered the phase of reducing tariffs with larger and more preferential rates.

However, due to the impact of the Covid-19 pandemic, the situation of political tension and high inflation in many countries, the supply chain was broken, so for many key export industries, the order situation in a few past months decreased by up to 50% compared to the previous month.

Therefore, according to experts and businesses, these difficulties urgently need solutions to quickly update market information, new regulations and policies of other countries to help industries and localities. Locally, enterprises develop and adjust appropriate production as well as business strategies and plans, making the best use of opportunities to develop markets and promote exports.

Therefore, many agencies, organizations and localities have strengthened the organization of trade promotion programs, connecting supply and demand directly and also online. These programs are organized both at home and abroad with the coordination of many stakeholders, helping many non-key products to increase export turnover.

For example, many of Vietnam's exported rice products have been branded and found a foothold in high-end new markets such as the US, Europe, etc. Or for the export of wood and wood products, due to seizing the opportunity when the EU, Japan and some Asian countries are looking for an alternative source of raw materials for gas, the export of wood pellets and chips benefits both in terms of quantity and price.

In addition, thanks to trade exchange programs, businesses can understand what foreign markets need in order to find niche markets and export new, less competitive products.

In this regard, Mr. Tran Dac Hoan, Director of Agroup Manufacturing & Trading Co., Ltd. said, thanks to the continuous promotion and organization of trade activities, the company has had conditions to connect and search for more businesses and partners from Australia; at the same time, they also learn and understand the regulations and standards to bring goods to this market.

Need substance

According to information from the Trade Promotion Department (Ministry of Industry and Trade), since the beginning of this year, the Department has completed 30 export consulting sessions and many online trade events. The focus of these activities is not only to help businesses connect with partners, but also, more importantly, to help businesses understand and update information about markets, especially markets that have a free trade agreement with Vietnam to have a suitable production and business plan.

In particular, the Trade Promotion Agency is accelerating the application of information technology in implementing trade promotion activities, building a digital trade promotion ecosystem that integrates many contents, not only helping businesses be more convenient and cost-effective in carrying out trade promotion activities but also helping the authorities be more convenient in implementing this work.

Further recommendations on the issue of trade promotion, businesses all want the activities to be more substantive, avoiding the general form.

According to Ms. Nguyen Thi Anh Hong, Vice President and General Secretary of the Vietnam Tea Association, exports to the Russian market were seriously affected by the Russia-Ukraine war. Meanwhile, exporting to markets around Russia, although old markets, is still strange to Vietnamese enterprises. Therefore, tea businesses want the information authorities to quickly help businesses learn more about these markets.

Meanwhile, a representative of the wood industry suggested that, in addition to supporting market expansion, trade promotion should also help businesses to avoid cases related to trade remedies. For example, organizing working delegations of related agencies and partner market enterprises come to Vietnam to prove the origin, legal and transparent production process, etc. to help facilitate export activities.

Currently, the diversification of trading partners is always recommended by international organizations with Vietnam to reduce risks and ensure that export growth is maintained.

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Therefore, trade promotion activities must be promoted even more effectively with the right ways to meet the needs of businesses. In addition, the promotion of Vietnamese brands and products on the world market must also be done in a more methodical manner, not only helping to increase orders but also increasing the value of Vietnamese exports products.

By Minh Chi/Bui Diep