February trade promotion meeting: Striving to achieve growth target by 2025

On the morning of March 4, at the headquarters of the Ministry of Industry and Trade, the Trade Promotion Agency held a meeting with the Vietnamese trade office system abroad for February 2025.

Foreign trade activities still maintain impressive growth momentum

Deputy Minister of Industry and Trade Phan Thi Thang chaired the conference. The conference was attended by departments and agencies under the Ministry of Industry and Trade and the Vietnamese trade office system abroad, along with representatives of associations such as the Vietnam Timber and Forest Products Association, Vietnam Steel Association; and representatives of the Department of Industry and Trade of provinces/cities.

Deputy Minister of Industry and Trade Phan Thi Thang chaired the conference. Photo: Phuong Cuc

Assessing the bright spots of trade activities in 2024 at the conference, Deputy Minister of Industry and Trade Phan Thi Thang said that looking back at 2024, despite challenges from global growth slowdown, economic instability and trade risks, Vietnam's foreign trade activities still maintained impressive growth momentum.

Total import-export turnover reached 786 billion USD, of which exports reached 405.5 billion USD, up 14.3% over the previous year. Many key export products continued to maintain their position and expand their market share in the international market. Exports of processed and manufactured industrial products, especially electronics, textiles, and footwear, continued to maintain growth momentum thanks to stable demand from key markets such as the United States, the EU, South Korea and Japan.

Meanwhile, the export of agriculture, forestry and fishery products also had an extremely successful year in 2024 with a record high of 62.5 billion USD, an increase of 18.7% compared to 2023, especially in some industries such as vegetables, seafood, coffee, rice, wood and wood products.

In order to successfully implement the goals and tasks of the socio-economic development plan for 2025 and the entire 2021-2025 period according to the Conclusions and requirements of the Central Committee, the Politburo, the Resolutions of the National Assembly and the Government with the target of GDP growth of the whole country in 2025 reaching at least 8% and striving for double digits in more favorable conditions, Deputy Minister Phan Thi Thang emphasized a number of results that the Industry and Trade sector needs to strive to achieve to achieve the growth targets for 2025.

Specifically, the industrial production index (IIP) increased by 9-10%, striving to increase by about 12.5%; total export turnover increased by 12%, striving to increase by about 14%; total retail sales of goods and service revenue increased by 10%, striving to increase by about 12%; electricity production and import increased by about 12.5%; completing 100% of the tasks assigned to the Government, Prime Minister, and Minister of Industry and Trade in 2025.

The trading system continues to play a key role

In addition to the advantages, Deputy Minister Phan Thi Thang also pointed out the difficulties in 2025 with many forecasts of challenges for global trade activities. Trade defense measures will increase, major economies will adjust policies to protect domestic production.

While geopolitical tensions show no signs of abating, they continue to impact the global supply chain. Especially since US President Donald Trump took office for a second term, they have had a profound impact on the world economy.

"In that context, grasping the situation, accurately forecasting market trends, building flexible response solutions and improving competitiveness are urgent requirements for businesses to adapt to global fluctuations, expand export markets and improve operational efficiency," Deputy Minister Phan Thi Thang emphasized.

The February meeting aims to disseminate new legal documents related to the Industry and Trade sector. Photo: Phuong Cuc

For this reason, the Ministry of Industry and Trade will continue to maintain monthly meetings with the Vietnamese Trade Office System abroad to regularly update market information, remove difficulties in import and export, and open up opportunities to take advantage of potential markets and promote sustainable trade development.

At the same time, the conference will promptly disseminate the newly passed and promulgated Laws, Decrees and Resolutions of the National Assembly related to the Industry and Trade sector so that units under the Ministry and Vietnamese trade offices abroad can grasp, enhance their proactive spirit, actively research, promptly advise and propose breakthrough tasks and solutions, contributing to renewing and promoting traditional growth drivers (including investment, consumption and export), while effectively exploiting new growth drivers (such as digital economy, green economy, circular economy, creative economy, sharing economy, etc.).

Assessing the "bridge" role of the Vietnamese trade office system abroad, Deputy Minister Phan Thi Thang said that in recent times, the system of trade offices and Vietnamese trade promotion offices abroad continued to play a key role, helping businesses access international markets, remove difficulties, connect trade and promote trade cooperation, contributing significantly to maintaining and promoting export growth.

"In the coming time, I suggest that Vietnamese trade offices abroad need to inherit, continue to innovate, create, overcome all difficulties, better promote their working role in supporting localities, associations, industries, and enterprises to develop production, better promote their role as a bridge, support enterprises to update market information, connect with strategic partners and promptly reflect difficulties and problems so that the Ministry of Industry and Trade can have appropriate solutions" - Deputy Minister of Industry and Trade emphasized.

The Deputy Minister also believes that with the spirit of initiative, creativity and close cooperation between management agencies, enterprises and the Vietnam Trade Office system, I believe that 2025 will continue to be a successful year for Vietnam's trade, making an important contribution to the country's socio-economic development.

The monthly conference with the Vietnamese Trade Office System abroad organized by the Ministry of Industry and Trade for over two years has recorded positive feedback and attention from a large number of Vietnamese Trade Offices abroad, localities, industry associations, import-export enterprises and news agencies. The conference has become an important forum for localities, industry associations and domestic enterprises to connect and exchange with the Vietnamese Trade Office System abroad, contributing positively to the development of import-export markets.

Source: https://congthuong.vn/giao-ban-xuc-tien-thuong-mai-thang-2-phan-dau-dat-muc-tieu-tang-truong-nam-2025-376645.html