National Trade Promotion Program boosts exports

09:23 | 06/06/2019 Economy- Society

(VEN) - The Ministry of Industry and Trade has signed cooperative programs with major e-commerce service providers to improve the efficiency of the National Trade Promotion Program and export promotion.

national trade promotion program boosts exports
Conditions must be created for domestic businesses to approach foreign partners

Achievements

The National Trade Promotion Program has contributed significantly to Vietnam’s export growth. Despite the modest state capital of about VND100 billion per year, the program has attracted a large amount of capital from non-state sources.

Through the program, the Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Trade and Industry annually provides hundreds of training courses in product design, branding and market approach for enterprises while helping them participate in trade fairs and exhibitions at home and abroad.

Phan Thi Thanh Xuan, Secretary General of the Vietnam Leather, Footwear and Handbag Association (LEFASO) said traditional trade promotion methods like trade fairs and exhibitions remain efficient. The program has helped leather and footwear enterprises meet potential partners and customers, she said.

Head of VIETRADE Vu Ba Phu said the program would focus on prioritized industries and markets, including markets with which Vietnam has signed a free trade agreement (FTA).

E-commerce prioritized

Promoting exports through e-commerce is a top priority of the National Trade Promotion Program. By connecting with world-leading e-commerce service providers and digital companies such as Amazon, Alibaba and Google, the program will help businesses apply e-commerce to strengthen exports.

VIETRADE and Amazon Global Selling have agreed to implement a cooperative plan from now to 2021 to help Vietnamese enterprises increase exports and develop branding, Phu said.

VIETRADE will diversify trade promotion methods to help businesses make the most of the benefits offered by FTAs, overcome global trade challenges and promote international cooperation in export promotion while implementing the National Trade Promotion Program pertaining to branding development.

Vu Ba Phu, Head of the Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade said

apart from state management agencies’ efforts, enterprises must take the initiative in trade promotion to strengthen

exports.

Viet Nga & Thu Trang