Diversify products to adapt to market fluctuations

The conference was connected online with Vietnamese Trade Counselors in the United States, Japan, China, Korea, Philippines, Laos, and Cambodia.

At the meeting, businesses pointed out the advantages and difficulties in production, business, import and export. Businesses frankly discussed difficulties, proposals and recommendations in granting certificates of exploited aquatic materials, certificates of exploited aquatic products, trade promotion...

Deputy General Director of Kien Giang Trading Joint Stock Company (KTC) Nguyen Duy An spoke at the meeting.

Nguyen Duy An, Deputy General Director of Kien Giang Trading Joint Stock Company (KTC), said that in 2024, the company exported goods to the United States with a revenue of 10 million USD, and in 2025, it is expected to reach 15 million USD. The imposition of a 46% reciprocal tax by the United States has made the company feel like sitting on hot coals. The company is discussing with a number of companies from countries such as Ecuador, Indonesia, the Philippines... that export canned goods to the United States to find ways to overcome the difficulties.

Representatives of Huy Nam Seafood Company Limited and Minh Khue Seafood Company Limited hope that the Central and local governments will find fundamental, strategic and long-term solutions to support businesses in promoting export activities, contributing to local socio -economic development.

Vietnam's Trade Counselor in the United States Do Ngoc Hung provided some information about the 46% reciprocal tax rate of the United States for our country.

At the meeting, representatives of the Vietnamese Trade Counselors in the countries provided information on the demand for goods and consumption of people in these countries. Mr. Do Ngoc Hung - Vietnamese Trade Counselor in the United States said that the United States applies a 46% reciprocal tax rate on our country. If the reciprocal tax is prolonged, it will seriously affect the flow of world trade and Vietnam. Small and medium-sized enterprises with a high export rate to the United States will be most affected, including enterprises of Kien Giang - a province with strengths in exporting seafood and leather shoes to the United States.

Bird's nest products are developing and can be exported to foreign markets. Mr. Dang Thanh Thien Hau, owner of Fanza bird's nest business (Ha Tien city) hopes that relevant agencies, departments and sectors will orientate and promote, connect many fairs and have preferential loan policies so that businesses can prepare well to adapt to the current volatile market.

Concluding the meeting, Deputy Director of the Department of Industry and Trade of Kien Giang province Nguyen Duy Linh Thao hopes that in the coming time, the Vietnamese Trade Counselors abroad will continue to accompany, support connections, promote trade or give warnings... so that Kien Giang enterprises can boost the consumption of local products.

Enterprises need to restructure production, shape the market, diversify markets, and diversify products to adapt to fluctuations in the world market. If they encounter difficulties and problems that cannot be resolved, Deputy Director of the Department of Industry and Trade of Kien Giang Province Nguyen Duy Linh Thao suggested that enterprises reflect and send documents directly to the department to help resolve the difficulties.

Processing squid for export at Kien Cuong Import-Export Seafood Processing Joint Stock Company, Tac Cau fishing port area, Chau Thanh district (Kien Giang).

According to the Department of Industry and Trade of Kien Giang province, Kien Giang's export turnover in the first quarter of the year is estimated at 203.64 million USD, reaching 19.03% of the yearly plan and increasing by 0.46% over the same period; of which rice export turnover is estimated at 53.14 million USD, seafood is 52.11 million USD, leather shoes are 55.01 million USD, other goods are 43.38 million USD. Import turnover in the first quarter is estimated at 37.38 million USD...

News and photos: THANH NHA

Source: https://www.baokiengiang.vn/kinh-te/da-dang-hoa-san-pham-de-thich-nghi-voi-bien-dong-thi-truong-25562.html