Workshop seeks consultation on priorities in national export strategy

Illustrative photo. (Source:VNA)

Hanoi (VNA) – The Ministry of Industry and Trade, in collaboration with the International Trade Centre (ITC), held a virtual workshopto seek consultation on priority sectors and areas in developing the nationalexport strategy on March 16.

The event was part of the Trade Policy and Export PromotionProgramme in Vietnam funded by the SwissTrade.

An expert from the ITC delivered a report on Vietnam’sexport situation and its untapped potentials and put forward recommendations onfive priority sectors, namely food, textile-garment, electronics, furniture, andenvironmental goods.

Other areas, including digital transformation, tradefacilitation, sustainable development, and quality certification and standards,are suggested to be prioritised in the next phase of the strategy.

In the first stage of the strategy development, the ITC hasconsulted the MoIT, several other ministries and the private sector to producein-depth assessment on Vietnam’s competitiveness in trade, said Dr. AlbertoArmugo Pacheco, a member of the national export strategy development team.

The ITC has been focusing on formulating separate strategiesfor each selected priority sector and area, he said, adding that the threelargest hard-currency earners – electronics, textile-garment, and footwear –account for up to 60 percent of untapped potential, so they can be viewed aspriorities.

The consultation workshop is held by the Ministry of Industry and Trade, in collaboration with the International Trade Centre (ITC). (Photo: VNA)

Machinery is close behind these three, he added,noting that they create many jobs but some of which are at risk of beingreplaced with automation.

Other experts held that agricultural processing andfurniture, though having relatively low export potential index now, hold otheradvantages and that is why it is important to heighten their position in the market in thefuture.

Nguyen Cam Trang, Deputy Director of the MoIT’s Agency forForeign Trade, said the consultation workshop provides a basis for the ITC to makebetter reviews and recommendations for its report.

The SwissTrade is represented by the Swiss Secretariat ofEconomic Affairs (SECO) from 2021 to 2024. Its overall objective is to improve trade performance and international competitiveness of SMEs through enhancedfavourable framework condition for trade, public-private dialogue mechanisms,and a strengthened eco-system for dynamic export promotion./.

VNA