Nearly 100 economic experts, State trade managers, producers and exporters met at a seminar in the central province of Khanh Hoa on October 24 to discuss how to further Vietnam’s trade and exports.

They shared the view that to realise the goal, Vietnam should establish a national committee on trade facilitation while ramping up transport infrastructure and services, simplifying legal procedures and restructuring chains of farming production.

Hoang Van Dung, Deputy Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), suggested taking a new approach to improving competitiveness as the country is facing a decline in export orders due to global economic turbulence.

According to him, it is made more challenging that low-tech products and raw materials are Vietnam’s hard currency earners as it is now an out-of-date trend.

Sandeep Mahajan, World Bank (WB) head economic expert, recommended improvements in Vietnam’s three key pillars of transport infrastructure – a trade logistics system, legal procedures in cross-border trade and the restructuring of its supply chain in order to compete with other rival nations.

The event was co-hosted by the National Committee for International Economic Cooperation, the VCCI and the WB.-VNA