Promoting export of advantageous products to conquer Americas

	Finding opportunities for exporting to South American market
	Forum to boost trade links between Vietnam and American partners
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Deputy Minister of Industry and Trade Do Thang Hai

How do you assess the prospects of promoting bilateral trade in the near future?

- As we know, the Americas are a large market with a population of more than 1 billion people. Currently, trade cooperation between Vietnam and the Americas have many positive signs. This is also a very potential market. Recently, the Americas have consistently achieved the highest growth in trade turnover among Vietnamese partners.

In 2019, merchandise trade with the Americas hit US$97 billion or 18.4% of the total Vietnam’s trade turnover. Of which, export turnover was $73 billion or for 26.4% of the total export turnover. Currently, Vietnam's advantageous export products including electronics, electronic components, wood and wooden products as well as agricultural products, food products and many other products that have gained a firm foothold and been appreciated by Americas consumers.

In addition, Vietnam has also joined many international organisations such as the World Trade Organization (WTO), the Asia-Pacific Economic Cooperation (APEC) and also signed free trade agreements (FTAs) with many countries in the Americas such as Chile and most recently Cuba. In particular, Vietnam has alsoacceded to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). In the CPTPP, there are four countries in the Americas (Peru, Chile, Canada and Brazil). These are great opportunities for Vietnam, especially Vietnamese enterprises, if they catch the opportunities to bring advantageous and high-quality products to this very large market.

What are the difficulties and obstacles to promote trade with this market?

- There are a number of obstacles on long distance geography. Currently, there are no direct carriers from Vietnam to the countries in the Americas. In addition, a very big obstacle to Vietnamese enterprises is language. In fact, the English language is an obstacle, while the Spanish and Portuguese are popular in the Americas, which is a more serious problem for enterprises.

What has the Ministry of Industry and Trade been doing to support enterprises to penetrate deeper into the Americas?

- To support enterprises to penetrate deeper into the Americas market, the Ministry of Industry and Trade has organised a lot of activities to provide knowledge about the market and products. In addition, the ministry has also organised many trade promotion activities and supported enterprises to organise delegations to survey the market, meet partners at trade promotion events as well as directly worked with enterprises of the countries in the Americas to be able to promote the economic and trade relations between the two countries.

Currently, the Americas market is very fond of Vietnamese food, beverages and fruits. However, Vietnamese products are still facing difficultiesin quarantine. Therefore, within the framework of the Joint Committees, the Intergovernmental Committee between Vietnam and other countries; at meetings with the participation of many other ministries and sectors such as the Ministry of Agriculture and Rural Development, the Ministry of Science and Technology, the Ministry of Industry and Trade also discussed with authorities of countries in the Americas to find ways and create the most favourable conditions for Vietnamese products to enter this market.

In addition to the support of State management agencies, what do you note enterprises for the export promotion to the Americas market to get better results in the future?

- In addition to the support of ministries and sectors, Vietnamese enterprises need to focus on and promote more advantageous products such as electronic products, electronic components, wood and wood products, agricultural products, garments and footwear.

In addition, enterprises must continue to seek more advantageous products of Vietnam that are currently exported to other markets, including fastidious markets such as the EU and Japan.

In addition, the fields of information technology, computers, and electronic components are also potential products. We want enterprises in the information technology sector to be proactive and promote more strongly their activities to increase export turnover in this field.

Energised by the dynamism of Vietnamese enterprises and the support of agencies and the Government of Vietnam, Vietnamese products will surely develop and gain better foothold in the Americas market, improving position and brand of Vietnamese products as well as promoting export turnover from Vietnam to the Americas market.