The conference was held both in person and online, with the theme: "Review of export promotion activities in the first 6 months of the year and implementation of the plan for the last 6 months of 2024".
Speaking at the conference, Deputy Minister of Industry and Trade Nguyen Hoang Long stated that this trade promotion conference is important in reviewing and summarizing the situation and lessons learned from export activities in the first 6 months of 2024. Deputy Minister Nguyen Hoang Long also emphasized the spirit of scientific work to achieve specific results.
Speaking at the conference, Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade), said that import-export activities in the first 6 months of 2024 continued to record positive results. According to the estimated figures of the inter-ministerial committee, the total import-export turnover of goods is estimated at 369.6 billion USD, up 16% over the same period last year, of which exports are estimated at 189.5 billion USD, up 14.2% over; imports are estimated at 180.2 billion USD, up 18.1%.
Mr. Tran Thanh Hai emphasized that a number of factors have been promoting the recovery of import and export activities such as: The results of the policy of international economic integration, diversification of Vietnam's export and import markets through negotiations and signing of new generation free trade agreements...
Along with that, the Government has strongly intervened with many comprehensive support solutions for the economy. As the leading agency in managing and operating import-export activities, the Ministry of Industry and Trade has promptly identified difficulties and risks from export markets to advise and propose solutions to develop export markets.
In particular, Vietnam has also recently upgraded its relationship to a Comprehensive Strategic Partnership with the United States, promising sustainable development for trade relations between the two countries.
The problem of high inventories in markets is gradually being overcome, especially in key export markets that have faced difficulties in 2023 such as the EU and the United States. For the United States, recovering consumer indicators have become an important supporting factor for economic growth.
“The global economy in 2024 still faces many risks and is difficult to predict. The fight against inflation still has many uncertain factors, especially the monetary policies of major countries. The current problem of excess capacity in China will also increase competitive pressure in the market. When consumer demand declines, China's excess supply of cheap goods can be exported to other countries,” said Mr. Tran Thanh Hai.
In addition, units of the Ministry of Industry and Trade need to review the key and focal products and markets that need to be prioritized for trade promotion in the short, medium and long term; at the same time, closely coordinate to jointly implement a series of specialized activities of many units within the framework of a trade promotion program, in order to improve efficiency and save resources in the context of limited state budget funding.
In addition, it is necessary to coordinate in guiding localities, industry associations, and enterprises to propose and develop plans to implement trade promotion activities to develop domestic markets and import and export, and digital transformation in trade promotion in accordance with the Strategies and projects approved by the Prime Minister.
Mr. Vu Ba Phu, Director of the Trade Promotion Department (Ministry of Industry and Trade) assessed that in the first 6 months of the year, under the attention and close direction of the Government leaders, trade promotion activities have brought many practical values to the business community nationwide. Trade promotion activities have contributed to connecting the consumption of enterprises' products with domestic and foreign markets, to effectively support enterprises in exploiting and searching for markets, strengthening production linkages, and boosting product consumption.
Trade promotion activities in the coming time will be flexible, innovate trade promotion work, combine traditional and modern trade promotion, associated with e-commerce, digital economy; strengthen communication, promotion, improve the competitiveness of Vietnamese branded products and goods; propagate and raise awareness in the business community about green transformation, sustainable production, to support businesses to improve their competitiveness, adapt to current market trends.
Ms. Dang Thi Thanh Phuong, Vietnam Trade Counselor in Germany, said that regarding import and export activities, according to statistics from the General Department of Vietnam Customs, by the end of May 2024, the total import and export turnover between Vietnam and Germany reached nearly 4.6 billion USD, an increase of 0.7%, of which Vietnam's exports to Germany reached 3.16 billion USD, an increase of 1.9% and Vietnam's imports from Germany reached about 1.43 billion USD, a decrease of 1.8%.
Some export items achieved increased value, specifically: seafood reached over 77.4 million USD, up 9.8%; vegetables and fruits reached 26.25 million USD, up 113.5%; cashew nuts reached over 48.66 million USD, up 35.5%; coffee reached over 349.62 million USD, up 45.4%; pepper reached over 32.83 million USD, up 119.9%.
According to Ms. Dang Thi Thanh Phuong, businesses need to meet additional requirements of the import market. In addition to the minimum mandatory requirements of the market, buyers will also have specific requirements for each type of product. Businesses also need to take advantage of the EVFTA Agreement, access distribution channels in Germany, especially the Asian distribution channel.
The representative of the Vietnam Trade Office in Canada said that in recent times, the tariff advantage that CPTPP brings to Vietnamese exports has gradually disappeared, because Canada has had and is promoting the signing of free trade agreements with a series of South American partners and in the Indo-Pacific region (Malaysia, India, Indonesia, Canada-ASEAN ...). This trend is negatively affecting the export of some Vietnamese products with strengths such as: Fruits, seafood, textiles. In addition to losing tariff advantages, domestic logistics costs in Canada are high, making Vietnam's export prices less competitive compared to neighboring South American countries.
Therefore, in the coming time, in addition to implementing many events to promote industrial and investment potential in all Canadian provinces to introduce Vietnam's high production capacity and industrialization level, the Trade Office will also dedicate a section to introduce and promote the Database of Vietnamese industrial enterprises, as well as to introduce each specific enterprise on the English website, to communicate to Vietnamese enterprises.
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