A speaker addresses the Vietnam Export Promotion Forum held by the Ministry of Industry and Trade in Hanoi on April 12 (Photo: VietnamPlus)
Hanoi (VNA) – Exporters need to pay attention to sustainability standards since today’s consumers want to know the conditions in which products supplied for them were made, heard the Vietnam Export Promotion Forum in Hanoi on April 12.
Vietnam has continually recorded a double-digit export growth rate in recent years. However, to achieve sustainability, businesses need to work towards higher added value in their products.
[Weaker shipments of key items lead to export slowdown in Q1]
Market research needed
Pham Minh Duc, owner of an organic tea producing company, said to be successfully in the European market, his business has had to work hard for many years to access clients.
He noted that at first, clients in the European market didn’t pay much attention to Vietnamese tea as they worried about plant protection product residues or unqualified tea. Therefore, to remove this concern, his company has made efforts to improve its products’ quality while patiently introducing organic products of Vietnam to partners so as to gradually access this market.
Firstly, a company must understand its market, but it should not be satisfied with its products’ quality or wait for clients to come, Duc added.
Echoing the view, a representative of the Ngoc Dong Ha Nam Co. Ltd – an exporter of bamboo products, said since 2008, the firm has made use of e-commerce to promote exports and develop its market. To successfully sell goods to demanding markets, businesses need to thoroughly learn about those markets and raise product quality.
In fact, not every company knows how to invest properly in the research of markets, especially foreign ones.
Le Ba Ngoc, Vice Chairman and Secretary General of the Vietnam Handicraft Exporters Association (VIETCRAFT), said a number of small- and medium-sized enterprises (SMEs) still lack professionalism in export. Many even hesitate about creating new products. Therefore, aside from the State’s support, enterprises themselves need to join hands to develop together.
To successfully sell goods to demanding markets, businesses need to thoroughly learn about those markets and raise product quality (Photo: VietnamPlus)
Working towards sustainable growth
Data of the Ministry of Industry and Trade (MoIT) show that trade revenue reached 480 billion USD in 2018. Notably, Vietnam ran a surplus of 6.8 billion USD, rising 3.2-fold from the surplus in 2017.
However, Jonas Grunder, Deputy Head of the Swiss Cooperation Office at the Embassy of Switzerland, said SMEs still face challenges, including tariff barriers and quality requirements, in accessing foreign markets.
To reap success, they should comply with sustainability standards since today’s consumers want to know the conditions in which products supplied for them were made, he noted.
According to him, businesses need to satisfy environment-related standards, especially when exporting goods to such markets like Switzerland.
Deputy Director of the MoIT’s Export – Import Department Tran Thanh Hai predicted that exports in the coming time may grow not as strongly as in the past, but the added value and quality of products will increase and businesses will develop in tandem with their production restructuring.
With regard to market expansion and export promotion, Director of the MoIT’s Vietnam Trade Promotion Agency Vu Ba Phu said aside from fairs and expos, his agency will organise many activities in the time ahead to help enterprises seek markets and connect with domestic and foreign partners.
He also highlighted that cooperation with foreign partners will also be enhance via foreign trade promotion organisations, and this is believed to help optimise all the benefits generated by the free trade agreements Vietnam has inked, thereby helping to raise export value and achieve sustainable development./.
