Supply-demand links key to MoIT domestic trade efforts

08:34 | 07/06/2018 Economy- Society

(VEN) - The Ministry of Industry and Trade (MoIT) has carried out extensive activities in recent years designed to help connect supply and demand to promote the sale of Vietnamese goods. These efforts have yielded good results, opening markets for many products and preventing price drops as a result of bumper crops.

supply demand links key to moit domestic trade efforts

Litchi is an example of successful trade promotion for agricultural products in recent years. Prior to 2013, vans full of ripe litchis could be seen plying national highways looking for buyers when prices fell to very low levels in Bac Giang Province and other litchi-growing localities. For the past several years, however, continuous trade promotion activities carried out prior to and during each litchi season until the harvest have averted such panicked sales attempts. In 2017, Bac Giang sold 91,000 tonnes of litchis at record prices of VND38,000 per kg in the domestic market, and VND58,000 per kg for export.

Apart from litchis, the MoIT has carried out successful trade promotion activities for thousands of other products. Ministry data show that in 2017, 1,280 trade promotion programs were implemented with a budget of more than VND170 billion, of which VND29.55 billion came from the national budget for trade promotion. In the north, local trade promotion centers carried out 315 activities, accounting for 25 percent of all activities nationwide, benefiting 5,167 businesses.

Not only helping boost sales, trade promotion activities have also contributed to improving the quality of agricultural products. Dao Van Ho, Director of the Trade Promotion Center for Agriculture, said supply-demand connection efforts enable producers to create products based on consumer demand. In the past, farmers focused their attention mostly on rice cultivation, but today, many have shifted to high-value sectors, such as seafood, fruit, vegetables and wood products. They have also focused on ensuring food safety. By the end of 2016, 744 models of safe agricultural, forest and aquatic product supply chains had been developed.

In 2018, the MoIT will concentrate on developing 71 projects and tasks to implement the Domestic Market Development Plan in conjunction with the Buy Vietnamese Goods campaign until 2020. Special attention will be paid to domestic trade promotion activities, especially during holiday seasons. Implementation of supply-demand connection and market stabilization programs will continue and trade promotion programs with widespread effects will be developed to replace small-scale and overlapping activities.

Along with other trade promotion activities, the MoIT will coordinate with localities to organize market days and Vietnamese goods fairs to promote sales in rural areas and thereby boost domestic trade.

Bao Ngoc