New markets sought to boost exports

Deputy Director of the Export and Import Department at the Ministry of Industry and Trade Tran Thanh Hai has suggested renewing and enhancing trade promotion activities, targeting new markets of potential such as India, Africa, the Middle East, Latin America, and Eastern Europe to boost exports amid ongoing difficulties.

Attention should be given to markets that are less affected by inflation and have been posting growth, such as ASEAN, and those seeing an increase in middle-income earners, like China, Turkey, Russia, Mexico, and Indonesia.

It is also essential to effectively exploit FTAs and speed up digital transformation in granting certificates of origin to help businesses make full use of agreements.

Mr. Hai also recommended boosting the development of logistics services to help cut costs and improve the competitiveness of Vietnamese exports, and to boost imports and exports via cross-border e-commerce.

Total export revenue reached $136.17 billion in the first five months of the year, a year-on-year decline of 11.6 per cent.

Most sectors continue to face difficulties in exports as a result of lower global consumption.