Vu Ba Phu, Director of the Trade Promotion Agency of the Ministry of Industry and Trade (photo: tapchicongthuong.vn)

In the first 7 months of this year, Vietnam’s export turnover was an estimated 262 billion USD, up 14% year-on-year. With production and exports recovering, businesses are ramping up imports of raw materials to fulfill export orders. The 7-month export surplus was an estimated 10 billion USD.

While continuing to boost key exports such as seafood, textiles, leather, and footwear, the Ministry of Industry and Trade is stepping up trade promotion for high-tech products like semiconductors, artificial intelligence, automation, machinery, equipment, components, and renewable energy.

Vietnam is aiming to expand export markets for OCOP (One Commune One Product) agricultural products. Vu Ba Phu, Director of the Trade Promotion Agency of the Ministry of Industry and Trade, said the Agency has been promoting e-commerce and new ways to adapt to market changes.

“The Ministry of Industry and Trade has encouraged businesses and OCOP stakeholders to participate in e-commerce by conducting training courses and communication campaigns on the benefits of e-commerce. Local Departments of Industry and Trade and local authorities need to engage in this effort and adopt policies to encourage businesses to promote e-commerce,” said Mr. Phu.

Businesses should actively develop new products and invest in high-tech production chains to increase export values. Tran Thanh Hai, Deputy Director of the Import-Export Department of the Ministry of Industry and Trade, said: “We’ve been pushing the negotiation of free trade agreements to expand markets and opportunities for enterprises. We’ve also intensified trade promotion of specific brands.”

Vietnamese exporters are expecting the Ministry of Industry and Trade to launch more trade promotion programs targeting new markets such as the Halal market, Saudi Arabia, Egypt, Brazil, and North Africa.