Exports need to expand market share in many countries

In recent years, Vietnam has traded with more than 200 countries and territories, but the majority of exports are concentrated in a few markets such as the US, China, Japan, South Korea and the European Union (EU). This will cause great risks when major export markets have changes in policies, natural disasters and epidemics. Therefore, many years ago, economic experts recommended that businesses in various industries expand their export market share in many countries and territories. Thus, when there are major fluctuations in a few export markets, businesses will be less negatively affected.

Báo Đồng Nai•04/04/2025

In the past 5-6 years, Vietnam has had many export products that are among the top in the world such as: textiles, wood products, pepper, rice, coffee, seafood, durian. However, most of Dong Nai and the whole country's enterprises focus on 5-6 major markets in the world: the US, China, EU, Japan... Therefore, recently, when the EU had more strict regulations on the environment and food safety, Vietnamese enterprises were worried. Wood industry enterprises, as well as some other industries, are racing to find ways to prove that their products do not originate from deforested areas. This is a major barrier for wood products, coffee, rubber, cocoa... exported to the EU.

Next, the US announced that from April 9, 2025, it will impose a 46% tax on Vietnamese goods. This caused a "shock" to many businesses in Dong Nai and the whole country, because the US is the largest export market, accounting for nearly 1/3 of total export turnover. Currently, businesses are waiting and hoping that the Government will have timely negotiations to turn the situation around. Otherwise, exports will decline, affecting production, business of businesses, and jobs of workers.

However, some experts believe that Vietnamese enterprises will be flexible in overcoming difficulties. Because, currently, Vietnam has signed 17 bilateral and multilateral free trade agreements and these agreements still have a lot of room for enterprises to exploit and expand exports. Vietnamese goods that have been exported to the US will also be easily exported to other countries in CPTPP, EVFTA, Vietnam - EAEU FTA, Vietnam - UAE FTA... With countries that Vietnam has signed free trade agreements with, the majority of export tax rates have been and are gradually decreasing to 0%.

In addition, Vietnamese enterprises need to focus on building national brands to reduce outsourcing or exporting through intermediaries. Only then can Vietnam's production and export develop sustainably and contribute greatly to the country's double-digit growth target.

Huong Giang

Source: https://baodongnai.com.vn/kinh-te/202504/xuat-khau-can-mo-rong-thi-phan-o-nhieu-nuoc-5c71018/