Meeting of the Steering Committee for Economic Diplomacy and Vietnamese representative agencies abroad with associations and enterprises of wood and forestry products

The Economic Diplomacy Steering Committee meeting aims to assess the challenges, opportunities, and impacts of new policies and regulations in markets on the wood and forestry industry and discuss solutions to support the industry in promoting exports and expanding markets.

Giao ban Ban chỉ đạo Ngoại giao kinh tế và các Cơ quan đại diện Việt Nam ở nước ngoài với các hiệp hội, doanh nghiệp gỗ và lâm sản

Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu delivered the opening speech at the Economic Diplomacy Steering Committee meeting. (Photo: Quang Hoa)

Implementing the Prime Minister's direction at the Conference on removing difficulties for the wood and seafood industries on April 13, 2023, continuing to promote economic diplomacy in the spirit of Directive No. 15-CT/TW dated August 10, 2022 of the Secretariat, on the afternoon of May 22, Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu chaired the May 2023 meeting between the Steering Committee for Economic Diplomacy and Vietnamese representative agencies abroad.

Attending the meeting were representatives of the Ministries of Industry and Trade, Agriculture and Rural Development, leaders of the Vietnam Timber and Forest Products Association, the Private Economic Research and Development Board, and key associations and enterprises in the wood and forestry sector.

The meeting agreed that the world economic situation in the coming time will continue to be difficult, with profound impacts on industries, including wood and forestry products. In the short term, there will be difficulties in sharp decline in demand from markets due to economic difficulties, inflation, consumer demand, etc.

In the long term, there are challenges from new policies, regulations and increasing requirements from countries, especially major import markets such as the European Union (EU), the US with the EU Deforestation Reduction Supply Chain Act (EUDR), the Carbon Border Adjustment Mechanism (CBAM), new regulations on supply chains and labor.

Giao ban Ban chỉ đạo Ngoại giao kinh tế và các Cơ quan đại diện Việt Nam ở nước ngoài với các hiệp hội, doanh nghiệp gỗ và lâm sản Việt Nam

Delegates attending the Economic Diplomacy Steering Committee meeting. (Photo: Quang Hoa)

The Timber and Forest Products Association, the Private Economic Research and Development Board and businesses request representative agencies to support product promotion, market development, especially large markets such as the US, EU, Northeast Asia, and connect partners for businesses.

Ministries, associations and enterprises also requested the Representative Agencies to help convey to international partners the message of Vietnam's efforts and commitments to ensure origin and readiness to meet environmental standards of markets, contributing to the development of a sustainable wood industry; update market information, warn of policy changes that have a direct impact on the wood industry and advise on appropriate response measures; mobilize countries to resolve investigations and trade defense cases fairly against Vietnamese enterprises.

Delegates attend the online meeting of the Steering Committee for Economic Diplomacy. (Photo: Quang Hoa)

Vietnamese representative agencies assessed that, in the context of general difficulties, there are still opportunities for the wood industry to take advantage of, such as the large import demand of large markets such as the EU, China's reopening, advantages in Vietnam's network of Free Trade Agreements (FTAs) such as EVFTA, RCEP... as well as opportunities in potential markets such as Indonesia...

The representative agencies and ministries and branches recommend that enterprises promote product diversification, research to meet the needs of each market, build deep relationships with customers, invest in brand building; strengthen links between enterprises to ensure the scale and stability of the supply chain; have a methodical and professional strategy in promoting and developing the market.

In the long term, businesses need to focus on investment and technological innovation to meet increasingly high market standards, prepare carefully for the market and legal aspects to limit risks of disputes, trade defense, ensure the origin of goods, legal growing area codes, etc.

The representative agencies affirmed their readiness to accompany and support businesses in removing difficulties and obstacles and expanding and developing the market.

Overview of the Economic Diplomacy Steering Committee meeting. (Photo: Quang Hoa)

Concluding the meeting, Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu requested that representative agencies and enterprises pay special attention to two-way communication, providing information such as policy adjustments, warnings, and experiences of countries in responding to the current difficult situation to promptly advise domestic agencies to proactively take appropriate response measures; ministries and branches support wood and forestry enterprises in improving their capacity and response ability, meeting increasingly high standards in trade and investment.

To enhance the effectiveness of promotion and advertising, the Permanent Deputy Minister requested that associations and enterprises provide representative agencies with specialized information and large-scale wood fairs to connect international businesses.

In addition, the representative agencies continue to make efforts and be sensitive in supporting the wood industry to expand and diversify markets, especially potential markets with room for growth such as India, Eastern Europe, and the Middle East; closely coordinate with businesses to improve prevention effectiveness, take advantage of political and diplomatic relations to support the satisfactory resolution of disputes and trade defense, and protect the legitimate interests of Vietnamese businesses.

In the coming time, the Ministry of Foreign Affairs will continue to closely follow the directions of the Government and the Prime Minister, organize economic diplomacy meetings with the participation of ministries, branches, localities, associations, and enterprises to promote two-way information work and promptly support the removal of difficulties of key sectors and fields, effectively implement Directive No. 15-CT/TW of the Secretariat on economic diplomacy for development until 2030 and the Government's Action Program for the period 2022-2026 to implement Directive No. 15-CT/TW.

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