Opening the Conference, Comrade Ta Hoang Linh, Director of the European - American Market Department, on behalf of the Department's leaders and civil servants, summarized the development of the European - American market in 2024 and the work orientation in 2025.
Accordingly, in 2024, although the world and regional market situation has many complex fluctuations that negatively affect production, business and import-export activities, under the direction of the leaders of the Ministry of Industry and Trade, the European - American Market Department has coordinated with relevant agencies at home and abroad, actively proposed many solutions, implemented many practical activities to support businesses to restore production and promote import-export activities. These activities have actively supported Vietnam's market development, not only exploiting traditional markets, expanding potential markets but also removing trade barriers, protecting the interests of Vietnamese enterprises in the international arena. In which, the following main activities have been well implemented:
Closely monitor and research market situations and policies, advise and propose mechanisms, policies and measures for market development: develop many in-depth reports on markets in the Europe - America region to serve the direction and management work; Prepare well the contents on economic - trade cooperation to serve the leaders of the Party, State, Government and National Assembly in meetings with partners in the region.
Implementing free trade agreements, existing cooperation mechanisms and frameworks, building new cooperation frameworks: Proactively and effectively implementing FTAs that have come into effect in the region including: EVFTA, VN-EAEU, UKVFTA, CPTPP, VCFTA. Focusing on the work of: researching and taking advantage of incentives in the Agreements, disseminating information, removing difficulties and obstacles in the implementation process. Successfully organizing 03 Intergovernmental Committee Meetings with countries in the European region (Bulgaria, Kazakhstan and Russia), 03 other Meetings with countries in the Americas region (Canada, United States, Chile). These Meetings focus on removing difficulties and obstacles in bilateral economic and trade relations, thereby creating the most favorable conditions for business operations. Building 03 new cooperation frameworks with Romania, Ireland, Sweden in the fields of economics, trade and industry.
International negotiations, expanding export markets, policy advocacy, removing market barriers: Participate in promoting the launch of FTA negotiations with the MERCOSUR bloc; Participate in supporting the handling of anti-dumping and anti-subsidy investigations, handling issues related to other trade barriers such as: Food safety and hygiene and SPS quarantine, standards in goods production, seafood exploitation and fishing, etc.
Trade promotion, supporting businesses in finding and expanding export markets: (i) providing updated information on the market through publications, articles, websites and organizing forums, seminars and conferences; (ii) organizing activities to support businesses in accessing the market, especially synchronously implementing from central to local levels the activities of the Project "Promoting Vietnamese Enterprises to directly participate in foreign distribution networks by 2030", typically successfully organizing a series of events connecting international supply chains "Viet Nam International Sourcing 2024" in June 2024 in Ho Chi Minh City, Vietnamese goods weeks in countries: Japan, Germany, UAE; Supporting connections with overseas Vietnamese businesses through providing information through the ConnectViet section on the Ministry of Industry and Trade's electronic information portal; Organize a conference to connect overseas Vietnamese intellectuals and businessmen in the United States (November 2024) with the theme: "Promoting the resources of overseas Vietnamese intellectuals and businessmen in the United States, contributing to the development of Vietnam's industry, energy and trade".
Directing the Vietnam Trade Office system in the Europe - America region to effectively perform the task of providing market information, participating in protecting the interests of Vietnamese goods enterprises in the markets, promoting trade and investment in the host countries; effectively supporting domestic and foreign enterprises in business, import-export and investment activities.
At the Conference, leaders and experts of the Department discussed, reported, and evaluated the advantages, difficulties, and lessons learned for the development of the European - American market in 2025 and proposed key tasks in the coming time.
Deputy Minister Nguyen Hoang Long
Speaking at the Conference, Deputy Minister of Industry and Trade Nguyen Hoang Long commended, acknowledged and highly appreciated the results of market development work carried out by the Department of European - American Markets in 2024, especially in the context of the region being the place with the most geopolitical and economic fluctuations in the world. In addition, the Deputy Minister pointed out the limitations and causes in market development work in this region. It is forecasted that in 2025, in addition to favorable factors, the international, regional and domestic situation is forecast to continue to develop in a complex and unpredictable manner; production and business activities of the business community continue to face many difficulties and challenges. The Deputy Minister suggested that the Department of European - American Markets focus on the following main orientations:
Firstly, thoroughly grasp the viewpoints, guidelines and policies of the Party and State in foreign affairs to successfully complete the assigned goals of the Industry and Trade sector in 2025. Make the most of political and diplomatic relations to develop economic, trade and investment cooperation with countries in the region.
Second, focus on grasping the situation and policy changes of the host country to advise the Party, State, Government, Ministry of Industry and Trade... on appropriate and feasible policy responses; At the same time, promote policy research, market research, explore opportunities to promote economic, trade, industrial, energy and investment cooperation commensurate with the political and diplomatic relations and position of the country.
Third, continue to promote the effective implementation of free trade agreements and existing cooperation mechanisms (Intergovernmental Committee, Joint Committee, Trade Council) with countries in the region; at the same time, study the upgrading and signing of new FTAs with potential markets...
Fourth, pay attention to and take care of the work of the ministries (from recruitment, training, planning, appointment, rotation and implementation of personnel policies. Especially the training and coaching of young cadres.
Fifth, improve the bridging function between domestic production and import-export enterprises and foreign enterprises and vice versa.
Sixth, coordinate with the Ministry's Office and domestic and foreign media agencies within the Ministry to provide and orient information on policies and markets to relevant agencies and businesses.
On behalf of the European - American Market Department, Director Ta Hoang Linh spoke to accept the Deputy Minister's direction and expressed his determination to effectively implement the assigned tasks in 2025 and contribute to the effective and sustainable development of the European - American market./.
In 2024, the import-export turnover between Vietnam and the European - American market region will witness a strong recovery and growth compared to 2023. The total import-export turnover is estimated at about 250 billion USD, an increase of 18.5% compared to 2023, of which exports are estimated at 202.1 billion USD, an increase of 20.3%; imports are estimated at 47.9 billion USD, an increase of 12.6%. The trade surplus with the European - American market will exceed 150 billion USD for the first time, estimated at 154.2 billion USD. Regarding exports, Vietnam's key export markets in the Europe-America region all witnessed strong growth in 2024. Specifically, exports to the US market in 2024 are estimated to reach 119.3 billion USD, up 23% compared to 2023; the EU market is estimated to reach 51.9 billion USD, up 18.8%; the markets of CPTPP countries in the Americas (Canada, Mexico, Chile, Peru) are estimated to reach 13.7 billion USD, up 17%; the UK is estimated to reach 7.6 billion USD, up 19.6%; EAEU countries are estimated to reach 3.3 billion, up 31.5%. Only exports to Mercosur countries will witness a decrease of 6.5%, estimated to reach 3.4 billion USD in 2024. Vietnam's key export items to the European and American markets in 2024 all witnessed impressive recovery and growth compared to 2023. Specifically, exports of Computers, electronic products and components are estimated at 34.6 billion USD, up 39.7%; Other machinery, equipment, tools and spare parts are estimated at 33 billion USD, up 24.4%; Textiles and garments are estimated at 23.4 billion USD, up 12%; Telephones of all kinds and components are estimated at 22.3 billion USD, up 12.5%; Footwear of all kinds is estimated at 16.7 billion USD, up 16.5%; Wood and wood products are estimated at nearly 10 billion USD, up 21.9%; Means of transport and spare parts are estimated at nearly 6 billion USD, up 7%; Seafood is estimated at more than 4 billion USD, up 18.8%. |
Source: https://moit.gov.vn/tin-tuc/hoat-dong/hoat-dong-cua-lanh-dao-bo/hoi-nghi-tong-ket-cong-tac-phat-trien-thi-truong-chau-au-chau-my-nam-2024-trien-khai-nhiem-vu-nam-2025.html
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