Since the beginning of the year, many meetings, concerning measures to boost the effectiveness of trade promotions, have been organized between all levels of government to ensure that the country will be able to achieve an export growth of 13 percent by the end of the year.
Trade Promotion Agency
|Workers manufacture furniture for export at Savimex’s factory|
Yesterday, the Vietnam Trade Promotion Agency signed a cooperation agreement with the UK Trade and Investment to strengthen the bilateral economic relationship and boost cooperation in trade and investment between the two countries.
Accordingly, the two sides will share information on markets, economic and trade policies that affect their business relationship, and at the same time boost activities that promote mutual bilateral trade.
Do Thang Hai, head of Vietnam Trade Promotion Agency, said that the signing ceremony will pave the way for similar events between Vietnam and other countries worldwide this year.
He also announced that the agency is drafting similar agreements for Japan and Korea, and will be in place in the very near future.
In an additional effort to boost exports, said Hai, the agency is speeding up market research by building up a database on its website, through which information about exports and business practices in different countries will be provided to exporters to help them outline plans, create new products and find new markets.
Workshops through which exporters can exchange experience, knowledge and useful information about a particular market with each other will be also organized, added Hai.
Exporters’ efforts to boost exports
General Director of Sadaco Tran Quoc Manh said that to meet the 2009 export target in the context of the global market crisis, exporters should take the initiative in finding new markets for their products, instead of waiting for contracts with regular business.
One of the solutions, said Manh, is trying to create original and traditional products with reasonable prices that suit every pocket and introduce them to new customers.
According to Manh, Sadaco began to seek new markets in Japan after the Japan-Vietnam Economic Partnership Agreement had been signed.
|Bamboo handicrafts made by Lac Phuong Nam Co. (Thu Duc) have been exported to different markets worldwide|
“This year, Japan will be one of the Sadaco’s key export markets, as the company‘s products being exported to the country will be entitled to tax breaks or exemption under the agreement, and thus become more competitive compared with other brands produced by manufacturers from other countries,” added Manh.
Manh revealed that Sadaco has recently signed a contract to supply monthly between 10 and 20 containers of bamboo chopsticks to the Japanese company Itochu. Each container is worth about $15,000.
The contract is a big chance for Sadaco considering demand for wood products, one of Vietnam’s key export markets, has been on a sharp decrease recently.
Next week, Manh will take Sadaco’s Japanese business partners to Hoa Binh Province to show them the area where they grow bamboo and the site of its factory.
If everything runs smoothly, they will export their first consignment by the end of this month, said Manh.
Agreeing with Manh, Huynh Van Minh, general director of the Saigon Trading Group (Satra), said that his company will outline more flexible policies to improve its trade promotions.
Minh added that Satra will not only try to expand its existing markets in the US, Canada, Japan and Africa, but also target new markets in Ukraine, Poland and Germany.