Vietnam seeks to promote exports to American countries

Saturday, 2020-09-26 13:06:10
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At the forum held in Hanoi on September 25. (Photo:
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NDO – The Ministry of Industry and Trade held the Forum on Trade and Industrial Cooperation with American Partners in Hanoi on September 25 with the aim of boosting Vietnamese exports to the American region.

The forum aimed to provide updated information on changes in trade and economic policies of the countries in the Americas while analysing the market situation and demand for Vietnam's export industries in this period.

It also identified opportunities and solutions to promote exports and attract investment from the Americas, especially in the context that a number of free trade agreements have come into force, the global supply chain has seen movement, and economic recovery after COVID-19 has begun.

Speaking at the forum, Deputy Minister of Industry and Trade Do Thang Hai said that the economic - trade relationship between Vietnam and the Americas has been continuously expanding in recent years.

In particular, the Americas are the continent witnessing the highest growth in trade turnover among Vietnamese partners.

Despite the impact of the COVID-19 pandemic, the two-way trade revenue between Vietnam and the Americas still reached US$69.3 billion in the past eight months, up 11.8%, and Vietnam's exports to the Americas increased by 15.9% over the same period in 2019.

The minister said that the pandemic has created negative impacts on the global and Vietnamese economies, however, it also provides opportunity for enterprises who are adaptable along with the opportunity for Vietnam to be a new destination for American investors amid the trend of relocation of investment projects.

Delegates also shared lessons and business stories as well as making analysis, comments and solutions to Vietnamese and American enterprises to have strategies to approach each other’s markets in a more methodical manner amidst the fluctuations in the global supply chain.