Customs clearance at a port. (Photo: VietnamPlus)
Hanoi (VNA) – There will be multiple international exhibitions and trade promotion activities this year, heard a conference held by the Ministry of Industry and Trade (MoIT) in Hanoi on January 31.
According to the ministry, thousands of trade promotion events were held at home and abroad last year, helping raise the country’s export-import revenue in 2023 to some 683 billion USD, with trade surplus hitting the record high of 28 billion USD, a 2.3-fold rise from 2022.
Deputy Minister of Trade and Industry Nguyen Sinh Nhat Tan said Vietnam’s trade offices abroad need to provide information about market trends in countries and export opportunities to Vietnamese localities, associations and businesses, so they can review production and business plans, and create appropriate trade promotion plans.
He emphasised that the monthly conference has recorded positive feedback, helping to overcome difficulties in market development.
The recovery in import-export activities has been not strong, but the declining rate in exports has narrowed. Efforts to make use of opportunities from international economic integration, diversification of import-export markets, and advantages from free trade agreements (FTAs) in the past years are a base for foreign trade development in 2024, he said.
A view of the conference held by the Ministry of Industry and Trade. (Photo: VietnamPlus)
According to the MoIT’s Vietnam Trade Promotion Agency (Vietrade), the import and export activities in 2024 still face many risks that are difficult to predict. The trend of trade protection increases, so many countries have measures to attract investment back home, and set trade barriers to promote domestic production.
Besides prices, product quality and delivery time, greening and sustainable development are requirements for suppliers to major markets such as the US, the EU and Japan.
Therefore, Vietnamese exporters must proactively grasp market information, and trade promotion is one of the most effective ways to support businesses in penetrating the markets.
Vu Ba Phu, Director of the Vietnam Trade Promotion Agency, said this year, the agency will have many international trade exhibitions for Vietnam’s key export industries as well as exhibitions on supply chains of industrial products that are held for the first time in 2024.
Phu requested the Vietnam trade offices abroad to support the agency, as well as organisations and businesses at home, in implementing trade promotion activities in foreign countries, and introduce reputable trade promotion events abroad to the agency, localities, associations and enterprises.
He also said that in 2024, the ministry will focus on three major directions in trade promotion activities, including continuing to innovate and diversify trade promotion activities.
Many Vietnamese products have satisfied demanding markets. (Photo: VietnamPlus)
It will expand export markets, focusing on effectively exploiting free trade agreements, and carry out digital transformation associated with green transformation in trade promotion to promote sustainable development in foreign trade activities.
In addition, the Vietnam Trade Promotion Agency will carry out large-scale trade promotion activities at the national and at international levels, especially in major export product sectors.
It will continue to take resources and support from international organisations and partners to implement technical assistance programmes for improving trade promotion capacity for the business community./.
