Enterprises access ASEAN market information via new portals

Sita Zimpel, Project Director at the German Corporation for International Cooperation (GIZ) who is responsible for developing these two portals, said that the ASEAN market still has a lot of untapped potential, especially under the ASEAN Trade in Services Agreement (ATISA). These two portals are the main platforms for businesses to access reliable market information, form networks, and share experiences with the business community, especially small- and medium-sized enterprises in ASEAN.

The workshop was jointly held by the Agency for Enterprise Development under the Ministry of Planning and Investment and the German Corporation for International Cooperation (GIZ).

Delegates discussed new opportunities from the ASEAN Economic Community (AEC) as well as related FTAs such as the ASEAN Comprehensive Investment Agreement (ACIA), the ASEAN Trade in Goods Agreement (ATIGA) and ATISA.

Nguyen Duc Trung, Deputy Director of the Agency for Enterprise Development, said that economic integration in general and ASEAN cooperation in particular have brought about a lot of economic development opportunities.

In the first two months of 2023, Vietnam’s total export turnover to ASEAN reached US$2.85 billion. Exports to Thailand reached US$654.2 million, US$441.7 million to Malaysia, more than US$430 million to Cambodia and Indonesia each, US$408 million to the Philippines, US$387.1 million to Singapore, US$45.3 million to Laos, and US$4.32 million to Brunei.

However, the achieved results did not fully reflect the potential for trade among ASEAN countries. Meanwhile, Vietnamese small-and medium-sized enterprises still face many challenges in taking advantage of these opportunities, he said, adding that supporting them to make the most of digital platforms as well as market search skills through networks within the ASEAN region is essential.