These are major goals which are stipulated in the newly-approved Project on the development of regional markets in the 2015-2020 period with a vision towards 2030.

The project targets to consolidate and expand market shares of Vietnamese products in traditional markets like the Southeast Asian region, the Northeast Asian region (Japan, the Republic of Korea), China, Australia, the U.S., the EU, Russia, Eastern European countries, and India.

It also hopes to diversify export markets and broaden potential ones in Africa as well as Latin America.

The fresh project looks to reduce heavy reliance on fixed markets with a view to minimizing risks caused by market upheavals and economic and political factors in the region and the world.

Trade promotion activities in both traditional and potential markets would be promoted. Viet Nam would deeply join distribution channels in regional markets in America and Europe.

The project also sets to make full use of tax cuts and removal of non-tariff barriers to boost export; speed up bilateral and multilateral trade negotiation; facilitate export of Vietnamese products; attract FDI; receive state-of-the-art technology; raise competitiveness and deeply integrate into the global supply chain. 

Supporting trade promotion activities 

The fresh project will assist enterprises to partake in trade promotion activities in foreign markets especially annual fairs to connect with distribution channels and attract foreign partners in key markets.

In addition, it aims to build and advertise trademarks of made-in-Viet Nam products, especially those belonging to the Program on National Trademark.

Market surveys will be enhanced to bring Vietnamese exports to potential markets.

Diversifying export markets

The project will research and build market development strategies for key exports in different periods of time and stabilize export markets.

It also build policies which encourage Vietnamese enterprises to join in foreign production chains and distribution channels in favor of high added value./.

By Kim Loan