Ministry embarks on building ecosystem to help enterprises to expand exports

SGGP
The Ministry of Industry and Trade (MoIT) organized the Vietnam Export Promotion Forum 2020 on trade promotion for sustainable export development in the implementation context of the EU-Vietnam Free Trade Agreement (EVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and new-generation FTAs, on December 16 in Hanoi.

Deputy Minister of Industry and Trade Do Thang Hai speaks at the forum. (Photo: SGGP)

Deputy Minister of Industry and Trade Do Thang Hai speaks at the forum. (Photo: SGGP)

At the forum, the MoIT pledged to support enterprises to build solutions to cope with the Covid-19 pandemic, combined with branding. The ministry will also establish a trade promotion ecosystem including partners, such as product development consultants, market development strategies, manufacturers, investors, exporters, importers, and logistics service providers, to create favorable conditions for enterprises to develop exports. Meanwhile, many enterprises said that the MoIT should improve the efficiency of Vietnamese representative missions and overseas trade counselors and help enterprises to take advantage of opportunities to develop the export market.

Mr. Do Thang Hai, Deputy Minister of the MoIT, said that export turnover would exceed US$254 billion, and import over $234 billion this year. The trade surplus would be over $20 billion. There are 31 items with an export turnover of over $1 billion. It is a premise for Vietnamese enterprises to increase their export capacity in the coming time, especially when FTAs have been implemented.

On the same day, the MoIT said that the Council of the Eurasian Economic Commission (EEC) had just issued a decision to allocate Vietnam's rice import quotas for each member of the Eurasian Economic Union (EAEU) in the year 2021. However, of the five countries prioritized for allocation in 2021, for the time being, the EEC has just allocated to two countries, namely Armenia with 400 tons of rice and Belarus with 9,600 tons.

By Ai Van, Phuc Van – Translated by Kim Khanh

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