08:23 | 23/04/2017 Trade
(VEN) - Bui Huy Son, the director of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade talked about the 27th Vietnam International Trade Fair (Vietnam Expo 2017) in an interview with Vietnam Economic News’ Quynh Nga and Hoa Quynh.
What is the significance of Vietnam Expo taking place from April 19 to 22 in Hanoi?
Vietnam Expo is one of the most prestigious trade promotion events with the participation of many domestic and international businesses. More than 260 Vietnamese enterprises and over 200 foreign companies have registered to join this year’s event.
This is a golden opportunity for Vietnamese enterprises to exchange experience, introduce their products and seek more partners, contributing to expanding the market and improving production capacity. Vietnam Expo is a healthy and effective playing-field for local enterprises given that Vietnam is promoting international economic integration.
About 130 Republic of Korea (RoK) businesses have registered for Vietnam Expo 2017. How do you assess trade relations between Vietnam and the RoK?
Trade and investment relations between Vietnam and the RoK have greatly developed over the years. Bilateral trade turnover has seen a nearly 90-fold increase since 1992. In particular, since the Korea-Vietnam Free Trade Agreement (KVFTA) entered into force, Vietnam’s exports to the RoK increased by 27 percent in 2016. In addition, the RoK has become Vietnam’s top foreign investor.
The KVFTA has contributed to creating a clear business and investment environment for the two business communities and promoting trust.
Trade promotion is a key to improved exports. How do you assess trade promotion programs in general?
Trade promotion is one of effective solutions to support enterprises at home and abroad. Manufacturing sectors and key exports have participated in the national trade promotion program and enjoyed benefits. Trade promotion activities have provided support for enterprises in domestic production development and market expansion.
What solutions will the Vietnam Trade Promotion Agency adopt to help enterprises boost exports?
The Vietnam Trade Promotion Agency will continue to coordinate with concerned authorities to further improve the effectiveness of the national trade promotion program, as well as implement measures to support enterprises in improving competitiveness.
The biggest expectation of local enterprises participating in Vietnam Expo 2017 is to attract more investment and seek
additional partners in order to enhance their production capacity and expand their markets.
Quynh Nga & Hoa Quynh