Conference examines ways to boost trade links with foreign markets

The monthly conference is anticipated to create the fastest, direct, and unified channel for information exchange between Vietnamese Trade Office agencies abroad and functional units, such as the Ministry of Industry and Trade, localities, along with import and export associations and firms nationwide.

The main goal of the conference is to help the system of the Vietnam Trade Offices abroad promptly update all requirements relating to export and import promotion in localities, industry associations, and businesses and vice versa.

Furthermore, the event also serves as a forum aimed at disseminating information, new policies, and market opportunities from the system of the Vietnam Trade Office agencies around the world.

Conference agenda in August, 2022, consists of two main sessions. Including Session 1 specifically for representatives of Vietnamese Trade Offices in Spain, India, Pakistan, and Chile to provide information relating to the latest developments in local markets, as well as recent changes in policies and regulations.

Session 2 is for representatives of localities and associations for them to discuss the numerous difficulties and advantages, propose support needs and initiatives related to the implementation of trade promotion, as well as import and export activities with foreign markets.

Over the past eight months the global economy has continued to be impacted by a range of complicated and unpredictable fluctuations from epidemics to geopolitical uncertainties, fiercely increasing strategic competition among major countries, and growing inflation in most nations and major economic partners.

Meanwhile, the Vietnamese economy continues to faces plenty of difficulties and challenges.

Despite these issues, through the clear-sighted leadership and right direction of Party and State leaders, the timely and effective participation of ministries, branches, and localities, along with the tireless efforts of the business community, the socio-economic situation throughout the reviewed period recovered rapidly in most areas. Indeed, most industries and fields were able to maintain stability with ensured macro balances and controlled inflation.

In line with this, the initial eight months of the year witnessed export turnover stand at an estimated US$250.8 billion, up 17.3% over the same period from last year.

The trade balance in August was estimated to have recorded a trade surplus of US$2.42 billion, duly bringing the trade balance in the first eight months of the year to US$3.96 billion.

It can be affirmed that, in terms of export and import achievements, the great efforts of Vietnam Trade Offices abroad have contributed to trade promotion activities by actively researching and evaluating foreign markets, as well as new mechanisms and policies on host countries’ economy, trade, and investment.

This will therefore help to promptly provide information, whilst guiding and supporting localities, industry associations, and business communities in trade promotion activities aimed at expanding, developing, and diversifying markets and products, thereby boosting boost exports.

Trade promotion conferences with foreign markets is one of the solutions which can promote and affirm the increasingly important role of Vietnamese Trade Office agencies abroad and contributing to meeting these practical requirements.