Measures sought to support businesses in expanding foreign trade

In the first quarter of this year, Vietnam’s total import-export value hit 176.35 billion USD, up 14.4 percent year on year(Photo: vietnamnet.vn)

Hanoi (VNA) – The Ministry of Industry and Trade(MoIT) on April 5 held a conference to evaluate trade promotion activities inthe first quarter of this year and seek ways to help localities, economic sectors and businesses surmount difficulties and build strategies to expandinternational trade activities in the new situation.

Addressing the event, MoIT Deputy Minister Do Thang Hai highlightedpositive signs in foreign trade so far this year, noting that in the firstquarter of this year, Vietnam’s total import-export value hit 176.35 billionUSD, up 14.4 percent year on year, with exports rising 12.9 percent and tradesurplus reaching 809 million USD.

However, he noted that domestic enterprises are under a double impact of continued complicated developments of the COVID-19 pandemic and the Russia - Ukraine tension, which have caused disruption in supply chains including energy and pushed transport costs up. Meanwhile, the Vietnamese economy depends greatly on foreign trade. 

Therefore, the conference was held with the aim of assisting localities, economic sectors and businesses in building their strategies and applying suitable measures to expand import-export activities in such a situation, Deputy Minister Hai said.

Ngo Sy Hoai, Vice Chairman and General Secretary of the VietnamTimber and Forest Product Association (VIFORES) said he hopes VietnameseTrade Offices abroad will help promote the image of Vietnam as a world leading hubof wood processing and export with resolute determination to develop the woodsector sustainably using green and legal material sources. He asked theVietnamese Trade Office in the US to give early alert on trade remedies in thismarket, so that domestic firm can prepare response measures.

Meanwhile, Dinh Quoc Thai, General Secretary of the VietnamSteel Association suggested that the MoIT provide information of importcountries’ trade defence investigations against steel products.

MoIT Deputy Minister Do Thang Hai addresses the conference (Source: MoIT)

At the event, representatives from trade associations proposedthat the MoIT conduct more activities to connect domestic firms with theirpeers in foreign markets, and strengthen support to enterprises in joiningtrade fairs abroad.

Le Hoang Tai, Vice Director of the MoIT’s Trade PromotionAgency said that this year, the agency will continue to organise manyactivities to support the export of Vietnamese products to foreign markets.This year, the national programme on trade promotion will spend 80.41 percentof its budget for export promotion.

He said that the agency hopes for closer coordination fromVietnamese Trade Offices abroad in providing updated information on foreign market as well as technical barriers and risks of anti-dumping lawsuits andpreferential policies given by foreign countries to Vietnam.

The trade offices abroad were also urged to assist with the popularisation of trade promotion events held in Vietnam and programmes tointroduce national trademark, and help invite foreign firms to join tradeconnectivity events online./.

VNA