HCM City to take promotion path to increase exports
Pham Thiet Hoa, Director of the HCM City Investment and Trade Promotion Centre (ITPC), said the forum discussed new ways of export promotion to align with current global market approaches and diversify promotional activities.
The export structure of Vietnamese goods had seen positive changes in the past few years, with a fall in the export of raw materials and increase in processed goods, enabling the country to participate in the global production and supply chains, he said.
Experts shared their insights into world market trends and issues Vietnamese companies should focus on to access and expand markets including through e-commerce and digital platforms.
To tap into the Southeast Asian market, Hoa said Vietnamese exporters should engage in more trade promotions and market surveys, and strengthen linkages with enterprises in target markets.
Exporters should also study prices, consumer tastes and trends in other markets, and have labels and packaging in English and the local language, Hoa said.
To meet the requirements of the ASEAN market, enterprises should also build brands, use technology in production and improve designs, Hoa said.
In markets such as the US, the EU, Japan, and the Republic of Korea, in addition to general global standards, exporters should also be prepared to face technical barriers that could change unexpectedly, experts said.
Last year, the US was Vietnam’s largest export market with shipments worth 39 billion USD, 12.8 percent up from 2017, followed by the EU with 34.9 billion USD, up 9.9 percent, and China with 32.1 billion USD, up 21.3 percent. – VNA