Trade promotions to be increased

Trade promotion and market research will be stepped up to help companies expand their overseas markets and meet the export growth target of 13 percent, said the Vietnam Trade Promotion Agency.
Deputy Minister of Industry and Trade Nguyen Thanh Bien said that in the context of the current global economic crisis and a contraction in export markets, trade promotion is a top priority if the export target of US$70.85 billion is to be achieved.

Vietrade, the State-run trade promotion agency, signed an agreement with the British Trade and Investment Agency last month to strengthen bilateral economic relations, said its head Do Thang Hai.

The agency is also preparing to sign similar agreements with Japan and the Republic of Korea, he said.

Last year it signed agreements with the Dutch Centre for the Promotion of Imports from Developing Countries and Switzerland’s Import Promotion Programme, he added.

Vietrade is also stepping up its market research to build a database of exports and imports and workshops, such as exporting to the Middle East and Africa, will also be run to provide enterprises with basic information on business customs and practices in each region.

Bien said that enterprises and industry associations should co-operate closely with the ministry to implement national-level trade promotion programmes, 44 of which have been approved so far.

Tran Quoc Manh, general director of wood furniture producer Sadaco, said that exporters need to be proactive when scouting for new markets and not wait for contracts to fall into their laps.

However, they also need to study their traditional markets and introduce more original products, he added.

The Sai Gon Trading Group (Satra) said that it had asked its member companies to be more active in promoting trade.

General Director Huynh Van Minh said that besides looking for new markets, the company was also trying to expand its traditional markets like the US, Canada, and Japan.

Source: http://english.vovnews.vn/Home/