Trade Promotion in The Integration Period

In the past 5 years from 2011 to 2015, trade promotion activities at home and abroad have achieved much progress, contributing significantly to the growth of the country’s export. However, when Vietnam integrates deeper into the world market, the role of trade promotion will become more significant.

In recent years, trade promotion has been implemented uniformly and efficiently, maximizes the resources at home and abroad to support the businesses and contribute to the economic and social development of the country.

Typical is the national trade promotion program. With the support from the program, the presence of Vietnam export products in many traditional markets such as the US, EU, China, Japan, South Korea is expanding. At the same time, the program has supported the business to come back to such markets as Russia and Eastern Europe, strengthening the operation in Myanmar, Laos, the Middle East, Africa and Latin America…

According to statistics, the activities of the national trade promotion program in the period of 2010 – 2014 have attracted the participation of more than 21,000 businesses. In particular, the companies have directly deal and signed contracts with a total contract value of export goods and sales reached nearly 5.3 billion USD and more than 1,000 billion VND.

The participation in the multilateral free trade agreements such as the Trans-Pacific Partnership (TPP) and bilateral agreements, in addition to the benefits that it can bring to the export of strategic goods Vietnam, the domestic manufacturing sector is forecasted to face with negative impacts if there are no timely and appropriate measures to support.

In order to effectively effectively support companies and take advantage of the opportunities offered by the new generation FTAs, Ministry of Industry and Trade has directed the relevant agencies to deploy more practical trade promotion activities, focusing on activities to tapping and opening the markets that Vietnam has signed and under FTA negotiation.

In particular, focus on supporting the export promotion in overseas market with such activities as: Organize and participate in specialized trade fair abroad, organize trade delegations to help maintain export turnover in the key markets, expand export market in new and potential markets.

Promote export through activities organized right in Vietnam: Organize international exhibition in Vietnam; organize international conference; organize and welcome the foreign delegations to Vietnam; mobilize the commercial counselors in countries around the world to introduce business opportunities, connect businesses and provide updated market information for businesses.

Coordinating agencies, related organizations and multinational corporations bring Vietnamese goods to international supermarkets: Organize Vietnam goods week in supermarket system in France, Japan and Korea…

Improve the performance of the trade promotion office that have been established in the United States and China; completing the establishment of trade promotion offices in China; finishing the scheme to set up trade promotion office in foreign country.

In order for the trade promotion activities to operate effectively and bring good opportunities for businesses, apart from the support of the State, companies need to improve technological content, added value to their goods, building and developing brands and participate in global supply chains.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

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