HCM City (VNA) - Global trade volatility caused by trade wars, armed conflicts, and tariff policies are pushing Vietnamese exporters to diversify markets and customers, while also creating opportunities for them to deeper join emerging supply chains, experts said at a seminar in Ho Chi Minh City on August 1.
Themed “Vietnam International Sourcing – Diversifying export markets”, the seminar was organised by the Ministry of Industry and Trade (MoIT)’s Department of Foreign Market Development.
Ta Hoang Linh, head of the department, highlighted the unprecedented global economic turbulence in recent years, noting that trade tensions between major powers, supply chain disruptions caused by the COVID-19 pandemic, geopolitical conflicts, rapid shifts in consumer trends, and especially the growing trend of market protection by both tariff and non-tariff barriers have significantly affected Vietnamese enterprises’ production and business.
Vietnam has for years pursued a strategy of diversifying markets, products, and distribution channels to maintain and strengthen its position in global trade. Vietnamese businesses have also shown flexibility and resilience, working to sustain and expand export markets even during the most challenging times, Linh said.
One of the key initiatives supporting Vietnamese businesses in expanding export markets has been the “Vietnam International Sourcing” and Export forum series, jointly organised by the MoIT and the HCM City People’s Committee since 2023.
According to Linh, relying solely on a few traditional markets poses risks for businesses. Vietnam International Sourcing 2025, with the involvement of over 60 trade offices of Vietnam abroad, is expected to welcome more than 300 purchasing delegations from 60 countries and territories worldwide to Vietnam to find supply sources of goods and products.
Through exhibition activities held as part of the event, international buyers will have the opportunity to explore over 12,000 products, ranging from farm produce, beverages, and processed foods to consumer industrial goods such as textiles, footwear, furniture, packaging, and supporting industry items.
The strong presence of Vietnamese and international businesses reflects the rising global appeal of Vietnamese products. Alongside traditional markets like the US, the EU, Japan, and the Republic of Korea, Vietnam International Sourcing 2025 is hoped to attract buyers from emerging regions such as the Middle East, Latin America, and Eastern Europe, offering opportunities for Vietnam to tap into 17 free trade agreements, reach new markets, and expand export strategies.
A highlight this year is the first-ever combination of Vietnam International Sourcing & Export Forum 2025 with International Travel Expo Ho Chi Minh City (ITE HCMC), creating a unique multi-industry event series, helping connect manufacturers and exporters with global buyers, and serving as a platform to promote Vietnam’s tourism industry, respectively.
This strategic move combines trade and tourism to maximise business opportunities and promote holistic economic growth, said Nguyen Cam Tu, Director of HCM City Tourism Promotion Centre. /.
