Minister Nguyen Hong Dien said that the overall achievements of the Industry and Trade sector include important and positive contributions from the Vietnamese Trade Office system in the Americas.
On November 18, local time in Rio de Janeiro, Brazil, the Ministry of Industry and Trade held a Conference of Trade Counselors and Heads of Trade Offices for the Americas market region.
The Conference of Trade Counselors for the Americas is an important activity, aiming to evaluate the results of the work of the Trade Office for the Americas in the past time and discuss the orientation and key tasks in the coming time, contributing with the entire industry and trade sector to excellently complete the tasks assigned by the National Assembly and the Government, making a positive contribution to the country's economic development.
At the same time, strengthen the connection, coordination and support for businesses to promote export and investment activities; strengthen the coordination between the Ministry of Industry and Trade, the Trade Office and foreign representative agencies in the host country and further promote the role and responsibility of the Counselors and Heads of Trade Offices.
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| Minister Nguyen Hong Dien said that the Conference of Trade Counselors and Heads of Trade Offices of the Americas is an extremely important Conference, aiming to evaluate the results of the work of the Trade Office of the Americas in the past time and discuss the orientation and key tasks in the coming time. |
Speaking at the opening and direction of the Conference, Minister of Industry and Trade Nguyen Hong Dien said that after more than 2 years, since the Conference of Trade Counselors for the Americas in July 2022 in Canada, today, November 18, in Rio de Janeiro, Brazil, the Conference of Trade Counselors for the Americas continued to be held.
This is an extremely important conference, aiming to evaluate the results of the work of the Americas Trade Office in the past time and discuss the orientation and key tasks in the coming time, contributing with the whole industry to excellently complete the tasks assigned by the National Assembly and the Government, making a positive contribution to the country's economic development.
Minister Nguyen Hong Dien shared that we have gone through most of 2024 in a context of many difficulties and challenges from the outside and internal problems of the country. However, the Industry and Trade sector has been proactive, creative, timely and synchronous in implementing tasks and solutions and has achieved many important and positive results. Notably, industrial production, trade, and import-export activities in the first 10 months of 2024 have all had a clear recovery, achieving results much higher than the same period last year.
In which, in the first 10 months of 2024, the industrial production index increased by 8.3%, the same period increased by 0.5%, in which the manufacturing industry increased by 9.6%.
The domestic market maintained a fairly high growth rate (8.5%); basic price levels were stable; supply of electricity, gasoline, essential goods and input materials was guaranteed.
Import and export continued to be a bright spot in the economic picture with a strong recovery in exports, reaching a record in many years (over 335 billion USD, up 15% over the same period last year/down 6.8% over the same period), in which exports to major markets in the region all grew strongly (such as the US, up 24.2%); the trade balance continued to have a surplus of over 23.3 billion USD, creating favorable space for monetary policy management.
“ In those common achievements, there are important and positive contributions from foreign trade activities, directly from the system of Vietnamese Trade Offices abroad, including Trade Offices in the Americas - the area with Vietnam's leading strategic export partners, and also the area where Vietnam is prioritizing efforts to expand cooperation in all aspects (politics, diplomacy, economics, trade, etc.) ” - Minister Nguyen Hong Dien acknowledged and highly appreciated the initiative of the Trade Counselors in actively researching and synthesizing the market situation and new regulations and policies of host countries to proactively advise and consult the Ministry's leaders, management agencies and domestic enterprises to have timely, appropriate and effective policy responses.
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| Minister Nguyen Hong Dien highly appreciated the important contributions of the Trade Counselors and Heads of Trade Offices in promoting bilateral cooperation, promoting exports, and effectively exploiting cooperation frameworks... |
Once again appreciating the important contributions of the Trade Counselors and Heads of the Trade Office, the head of the Industry and Trade sector emphasized that they have also made great efforts in promoting bilateral cooperation, promoting exports, effectively exploiting the frameworks of strategic partnerships, comprehensive partnerships, free trade agreements and other bilateral cooperation mechanisms, and also connecting investment and supporting investment cooperation, thereby practically serving the socio-economic development of the country.
" I welcome the Trade Counselors and Heads of the Vietnam Trade Office in the Americas for regularly organizing trade connection activities and promoting investment activities so that domestic enterprises can seek investment opportunities not only in traditional export markets but also in potential new markets" - Minister Nguyen Hong Dien noted.
On behalf of the Party Committee and the Ministry's leaders, Minister Nguyen Hong Dien acknowledged, welcomed and warmly congratulated the achievements that the Trade Offices in the Americas region have achieved in the past time.
Although the world and regional economies are showing signs of improvement, it is forecasted that the global trade situation will continue to face many new difficulties and challenges; especially in the American market - a region with many factors that greatly affect Vietnam's trade and economy, especially the change of Government in a series of countries - our major partners in the region such as the United States, Mexico, Brazil, Argentina..., leading to major changes in foreign policy and international trade of countries in the region and internationally; thereby leading to many consequences for import-export activities and domestic economic growth due to the large openness of our economy (over 200%).
The above context requires closer and more effective connection and coordination between the Vietnam Trade Office system - as an extension of the Ministry in important locations abroad (including the Americas) with units within the Ministry, as well as with ministries, branches, localities and associations and enterprises so that the parties can update and share the fastest and most accurate market information and new regulations and policies of the host countries, helping State management agencies to have appropriate and timely policy responses; at the same time, support domestic enterprises in disputes and trade defense, as well as build and adjust appropriate production and business strategies and plans to effectively exploit the Free Trade Agreements of which our country is a member.
Minister Nguyen Hong Dien said that this conference of Trade Counselors for the Americas region will have the participation of Trade Offices, Trade Office Branches, Trade Promotion Offices in key locations in the Americas region and representatives of functional units of the Ministry. Therefore, in order to promote foreign affairs activities, as well as further promote the role of Trade Counselors, Head of the Trade Office, Minister Nguyen Hong Dien suggested that delegates focus on discussing and evaluating in depth the following contents:
Firstly , the results achieved, limitations, weaknesses and causes (especially subjective causes), drawing lessons; at the same time, evaluating and identifying opportunities, advantages, difficulties, and challenges in the American market in the coming time and changes in policies of the host country to advise the Ministry and the Government to have appropriate and timely policy responses to ensure the highest interests of the country.
Second, solutions to enhance the effectiveness of market research, build a shared database on the market and disseminate market information to specialized agencies of ministries, branches, associations, enterprises and localities in the country.
Third , measures to promote trade promotion, diversify markets and export products, and promote the introduction of Vietnamese goods into distribution chains in the Americas to maximize the potential of markets and promote the role of the Vietnamese community in boosting exports.
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| Director of the Department of European - American Markets, Ministry of Industry and Trade reports on the activities of the Vietnam Trade Office in the American market. |
Fourth, the strategy of building a sustainable supply chain, promoting effective cooperation in the field of logistics to key markets in the Americas.
Currently, input materials for manufacturing industries are dependent on some Asian markets. In the face of the trade war trend from major countries, we must transform and seek new, potential markets to avoid dependence. Meanwhile, America is a potential market area providing input materials, with many mineral resources serving textile and footwear production activities. Therefore, this is not only a large export market but also a potential import market for domestic businesses and industries.
Fifth , advise on policies and specific solutions to promote economic, trade and energy cooperation between Vietnam and partners in the Americas; take advantage of the mechanisms of the Intergovernmental Committee, the Joint Committee, the frameworks of strategic partnerships, comprehensive partnerships and signed free trade agreements to promote cooperation, attract investment to develop fundamental industries, supporting industries and high-tech industries.
In addition, the issue of promoting cooperation with American countries in the fields of clean energy, green economy and emission reduction also needs to be discussed within the framework of this meeting.
Sixth, propose to amend and supplement criteria, conditions, and procedures for evaluating the task completion level of trade officers and other relevant recommendations and proposals to continuously improve the quality and efficiency in performing public duties.
“These are very important contents, of practical relevance not only for the development of the Industry and Trade sector, but also for the economic development of the country ” - Minister Nguyen Hong Dien emphasized and requested the Trade Counselors and Heads of Trade Offices, based on practical experience, to focus on discussing, evaluating and clarifying the 6 key contents mentioned above; at the same time, propose and recommend solutions and initiatives to build the system of Vietnamese Trade Offices abroad to truly become dynamic - professional - effective agencies, best serving the development of the business community and the country's economy.
Immediately after the speech of Minister Nguyen Hong Dien, Deputy Minister Nguyen Sinh Nhat Tan will continue to chair the working sessions according to the scheduled program.
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