VN ramps up trade promotion to take advantage of new agreements

Saturday, Jan 23, 2016 09:00

Indian firms study Vietnamese products and market. The national trade promotion programme in 2016 will be implemented from the beginning of this year. — VNA/VNS Photo Thanh Vu
HA NOI  (Biz Hub) — The national trade promotion programme in 2016 aimed to help firms take full advantage of new free trade agreements as well as the global economic recovery, said Do Thang Hai, Deputy Minister of Industry and Trade.

Hai said at conference yesterday that trade promotions must focus on sectors and products Viet Nam had strength and competitiveness in.

With a tight budget of VND90 billion (US$4 million) for the programme, dropping by VND20 billion ($888,900) compared to last year, the Viet Nam Trade Promotion Programme said it would be a challenge.

In order to achieve the target export growth at 10 per cent, Bui Huy Son general secretary of the programme, said the focus would be on the country's traditional export products like agro-fishery products, garments and textile and footwear.

The programme, which includes 177 projects, would be implemented from the beginning of this year.

As Viet Nam entered a rapid international integration period, promotions would target members of the Trans-Pacific Partnership, ASEAN Economic Community and trade deals with the Eurasian Economic Union, the European Union and South Korea to boost exports, according to Ta Hoang Linh, deputy director of the Viet Nam Trade Promotion Agency.

The programme would also promote the domestic market, especially in rural, mountainous and border areas in line with the campaign "Vietnamese prioritise using Vietnamese goods".

The trade promotion agency urged Vietnamese firms to improve product quality, develop brands and join global supply chains.

Linh said the programme contributed to maintaining and expanding export markets, developing the domestic market, promoting brands and removing difficulties for businesses.

Last year the programme drew 8,850 businesses to trade fairs and exhibitions at home and abroad, attracting 3 million visitors and leading to transactions and contracts worth $858 million from foreign markets and another VND637.8 billion ($28.35 million) from the domestic market. — VNS

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