Expanding foreign markets for Vietnamese goods

Vinamilk's pavilion at a trade fair in Dubai. — Photo congthuong.vn

Vietnamese enterprises have made great efforts in effectively using FTAs to penetrate and bring Vietnamese goods to the international market.

However, for sustainable development, businesses believe that it is necessary to further promote trade in foreign markets in a flexible, practical and effective manner to widen the way for exports of Vietnamese goods.

To support enterprises to overcome difficulties and restore production and business, Trần Phú Lữ, deputy director of HCM City's Investment and Trade Promotion Centre (ITPC), has said that HCM City has boosted trade promotion and investment activities to help businesses expand the domestic product consumption market and potential foreign markets.

Exporting Vietnamese goods through the distribution network of foreign retail groups in Việt Nam is considered an effective and sustainable channel, which can also be called "on-the-spot export" as foreign retailers not only have systems of modern trade centres and supermarkets, which are continuously expanded at home and abroad but also lead the way in converting to online shopping, according to Lữ.

The ITPC has coordinated with these corporations to organise conferences and seminars to create bridges for businesses to meet, exchange and seek new markets at home and abroad.

Meanwhile, in foreign markets, Vietnamese trade promotion agencies and trade offices have been organising and promoting Vietnamese goods, connecting markets, and supporting enterprises to increase exports.

Many domestic and international organisations forecast that the world economy, including Việt Nam, will recover and consumer demand will increase this year.

This is an opportunity for production and exports to continue to grow. To take advantage of this opportunity, trade promotion activities need to continue to be renewed and digitally transformed to promote the role of a trade bridge.

Thân Đức Việt, general director of Garment 10 Joint Stock Company, said that trade promotion activities needed to undergo a more robust digital transformation and promote e-commerce platforms to resume and develop the supply chain after the pandemic.

Ngô Sỹ Hoài, Vice President of Việt Nam Timber and Forest Product Association, hopes that Vietnamese trade offices abroad convey the message that Việt Nam is a centre for processing and exporting wood products and will develop a sustainable wood industry with clean and legal raw materials.