Exports in 2021 can reach 330 billion USD

After 11 months, Vietnam's export turnover has reached over 300 billion USD and is forecasted to reach 330 billion USD for the whole year.

The above data was announced by Deputy Minister of Industry and Trade Tran Quoc Khanh at the export promotion forum in 2021, on December 15.

At the end of 11 months, 34 groups of export products achieved a turnover of 1 billion USD or more, of which 7 groups reached over 10 billion USD, such as phones and components; computers, electronic products and components; devices; textiles, footwear, wood, iron and steel...

"Export turnover this year is expected to reach 330 billion USD, an increase of more than 17% compared to 2020," Mr. Khanh informed.

This result, according to the leader of the Ministry of Industry and Trade, is thanks to the recent export promotion activities. "Thanks to the maintenance of trade promotion activities on the digital platform, agricultural products and goods are still connected for consumption even in the most difficult time of the epidemic," he acknowledged.

However, the epidemic has made export trade promotion by the traditional method through the organization of fairs and exhibitions "no longer have much space", instead it is a shift to a digital platform. This requires a shift and adaptation from industry management, to localities and directly to exporting enterprises.

However, Mr. Vu Ba Phu, Director of the Department of Trade Promotion, still shared three challenges in current export promotion.

One of them is that the product supply capacity of small and medium-sized enterprises is still weak, unable to meet import orders requiring high quality and large quantities. This weakness was revealed when Covid-19 caused export promotion activities of enterprises to suffer a lot; supply shortage, supply chain disruption...

"This is a big difficulty for small and medium-sized enterprises, when trade promotion here will largely shift to online "channels", he stated.

Another difficulty for small and medium-sized enterprises is that commercial practices and consumption habits have changed, switching to online shopping and online promotion more, but their capacity is still limited.

"If an enterprise's ability to apply technology, foreign languages, and marketing on digital platforms is not good, it will affect trade promotion activities, market search, and customers," said the Director of the Trade Promotion Department. comment.

On the other hand, a financial mechanism to support enterprises in export promotion exists, but "actually always goes faster than policy", so it also makes trade promotion slower with practical requirements.

In order to improve the effectiveness of export promotion in the context of the epidemic, Ms. Tran Thi Hong Minh - Director of the Central Institute for Economic Management (CIEM) suggested that digital transformation in trade promotion activities needs to be transformed. faster, stronger to concretize the sharing of data information, data analysis... in order to take advantage of this data source for promotion activities.

In 2022, Mr. Vu Ba Phu said that the coming trade promotion activities will focus on medium and long-term programs with key export products, exploiting the advantages of free trade agreements. FTAs).

Currently, Vietnam has negotiated, signed and implemented 17 FTAs with many major partners such as Korea, the ASEAN region, the EU, the US... including markets that have recorded dozens of bilateral trade, even hundreds of billions of dollars every year.

While it is necessary to accelerate digital transformation in export promotion, Ms. Tran Thi Hong Minh believes that this should be considered a new motivating factor, but cannot replace traditional trade promotion. This is to take advantage of each trade promotion model, creating resonance for the development of national import and export activities.

The Director of CIEM also noted that in the new context, authorities are studying the scenario for the online dispute settlement mechanism with cross-border e-commerce transactions.

Finally, she emphasized the "greening" of trade promotion activities as the main export markets are also shifting demand towards green products. Trade promotion thinking needs to be pushed harder into gateway markets, because these are important areas, helping to find new and potential markets.

"Trade promotion should not focus on a specific product or market, but take into account the linkages between markets. Then, with the same effort, export promotion activities will be pervasive. , connect and increase export value by many times", commented Ms. Minh.

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