Trade promotion helps businesses

10:55 | 09/07/2015 Trade

(VEN) - At a recent meeting held to review the trade promotion activities of southern provinces and cities in the first half of this year, most attendees shared the opinion that to achieve better results in the time to come, local departments of industry and trade need to tighten their coordination with the Vietnam Trade Promotion Agency (Vietrade).

Trade promotion helps businesses

A Vietnamese goods fair in Ca Mau Province

In the first six months of this year, local trade promotion centers organized more than 300 trade promotion programs, a rise of 10 percent compared with 2014, with total budget of over VND76.4 billion, of which VND10.74 billion came from the national trade promotion program. These programs consisted of activities such as organizing fairs and exhibitions, training, providing trade information, organizing market-days to sell Vietnamese goods, participating in trade fairs and exhibitions in foreign countries, and promoting trade via e-commerce channels.

Trade promotion units also organized 71 different market days, 26 of which received VND3 billion in funding from the national budget for trade promotion, attracting the participation of 1,736 businesses with transactions totally valued at over VND41 billion.

Vietrade Deputy Director General Bui Thi Thanh An - Chief Representative of Vietrade in Ho Chi Minh City, said in the first six months of this year, Vietrade had arranged for eight delegations with about 100 foreign businesses from Italy, the Republic of Korea, Malaysia, Cuba, Japan, India, Australia, the US, Switzerland, and some other countries, to visit southern provinces and cities to promote trade and seek partners. Vietrade has also created opportunities for trade promotion centers, business associations and more than 500 companies in the southern region to learn investment and trade experiences from foreign businesses.

Intensifying trade promotion

Businesses complained that trade promotion budgets remained limited and insufficient to cover intensive and large-scale activities. Moreover, most local businesses were small to medium in size with weak financial capacity and business management capabilities. They have yet to appreciate the role of trade promotion activities.

To gain better results from trade promotion activities in the coming time, Bui Thi Thanh An proposed the combined use of central and local budgets for trade promotion in localities. In her opinion, it is necessary to tighten the links between localities and each area needs to concentrate on developing products which are its advantages.

According to Bui Thi Thanh An, from now until the year’s end, Vietrade will increase its coordination with local departments of industry and trade to improve the management over trade promotion activities. At the same time, the agency will continue providing consultancy and suggestions for localities to make long-term trade promotion plans.

Vietrade has encouraged and created favorable conditions for local businesses to participate in events such as World Food Moscow, Anuga International Food and Beverage Fair 2015 in Cologne, Germany, Private Label Show in the US, the China-ASEAN Expo (CAEXPO), the Vietnam-Laos Trade Fair, and the Vietnamese Goods Fair in Myanmar.

Thuy Duong