At the recent meeting with Vietnamese trade counselors and heads of Vietnamese trade offices in the European region organized by the Ministry of Industry and Trade (MoIT) in Italy, delegates and participants made proposals to expand export markets.

 

Head of Vietnamese Trade Office in Hungary Tran Ngoc Ha

 

Trade promotion to diversify export markets

 

Vietnamese Trade Office in Hungary has recently been focusing on promoting potential agricultural exports that Hungary lacks, such as coffee, cashews, pepper, and rice.

 

In addition, the Trade Office has organized exhibitions to promote and showcase Vietnamese exports, focusing on advantageous and high-potential products; connected Hungarian enterprises directly with Vietnamese exporters to optimize trading costs.

 

In the first half of 2024, Vietnam’s export to Hungary has regained momentum to reach US$314.6 million, a year-on-year increase of 57.9 percent.

 

Vietnam’s Trade Counselor in Germany Dang Thi Thanh Phuong

 

Vietnamese goods are prioritized into distribution channels

 

Although Vietnam - Germany bilateral trade revenues nearly doubled from US$5.6 billion in 2011 to over US$11 billion in 2023, these results have not matched the potential of the two countries.

 

To facilitate Vietnamese exports to Germany, the trade office has built a website to provide two-way market information for both sides’ authorities and businesses, and maintained distribution of Vietnamese products into Germany’s trading systems.

 

Vietnamese Trade Counselor in Russia Duong Hoang Minh

 

Accelerating revision of Vietnam-EAEU FTA

 

Although Vietnam - Russia bilateral trade has seen a positive recovery with the two-way trade revenue in the first half of 2024 reaching US$2.34 billion, a year-on-year increase of 45.4 percent, the trade relations are in face of huge challenges in this global difficult context.

 

The Vietnamese Trade Office in Russia proposed to revise the Vietnam-EAEU FTA to remove the trigger mechanism for Vietnam’s leather and footwear exports to the EAEU market, and facilitate Vietnamese businesses’ investments in Russia in advantageous areas, such as agricultural products processing, seafood, etc.

 

Vietnamese Trade Counselor in Spain Vu Chien Thang:

 

Since 2023, the trade office has received notification from the Spanish Ministry of Health about at least seven cases of Vietnamese enterprises’ consignments of agricultural and food products containing disease-causing substances exceeding the current regulations of Spain and the EU in general.

 

The agency then forwarded the warnings to domestic enterprises and associations to avoid more tightened controls over following consignments.

 

First Secretary of Vietnamese Trade Office in UK Hoang Le Hang

 

Energy, green economy, emission reduction... are potential cooperation areas between the UK and Vietnam. Vietnam can learn from the UK and other developed countries in clean energy transition and renewable energy.

 

The JETP (Just Energy Transition Partnership) established between Vietnam and G7 countries will also help Vietnam complete policies on related issues to attract investment in renewable energy development and thereby Vietnam will have more motivation to develop its renewable energy industry.

 

Editor-in-Chief of Newspaper of Industry and Trade Nguyen Van Minh

 

Over the past time, the Newspaper of Industry and Trade (NoIT) is proud to act as a bridge between Vietnamese trade offices abroad in general and in Europe in particular and ministries, sectors, localities and leaders nationwide.

 

Now, the NoIT has opened new sections: Information about Trade Offices and “Trade Opportunities” on its website which cover the news and activities, warnings, and proposals of Vietnamese trade offices abroad on Vietnamese goods, markets, trade opportunities. To help the coordination between the NoIT and Vietnamese trade offices more effective, the NoIT recommended that Vietnamese trade counselors and commercial attachés regularly send market information and their operations to the address baodientubct@gmail.com.

 

Source: Vietnam Economic News