EXPORTS & TRADE DEFENSE IN ASIA, AFRICA, OCEANIA
On the morning of September 16 at Binh Duong Convention & Exhibition Center, the Ministry of Industry and Trade organized a seminar titled “Promoting Export Potential and Enhancing Trade Defense Capabilities in Asian, African, and Oceanian Markets.”
At a recent seminar, Deputy Minister of Industry and Trade – Mrs. Phan Thi Thang emphasized both the opportunities and challenges in expanding Vietnam’s exports to Asia, Africa, and Oceania martes. Although Vietnam’s exports to these regions have shown positive growth, businesses continue to face significant challenges, particularly with protectionist measures and trade barriers imposed by importing countries. Mrs. Phan Thi Thang stressed the importance of understanding and mitigating the impact of these trade defense measures, which are becoming increasingly prevalent as countries aim to protect their domestic industries.
Vietnam has been the subject of numerous trade defense cases, with 138 out of 256 investigations initiated by countries such as India, Turkey, Australia, Indonesia, and the Philippines. This highlights the necessity for Vietnamese businesses to comply with export regulations and navigate the legal landscape in these markets.
Mr. Nguyen Thanh Toan, Director of Binh Duong Department of Industry and Trade, called for greater cooperation between the Ministry of Industry and Trade and local businesses. He emphasized the importance of improving product quality and expanding into new export markets. He also suggested that businesses work closely with the Trade Defense Department to better respond to foreign trade defense cases.
According to the General Department of Customs, Vietnam’s total import-export value for the first half of 2024 reached approximately $370 billion, with exports contributing $190 billion. Trade with Asia, Africa, and Oceania accounted for around $250 billion, making up nearly 67% of Vietnam’s total global trade. Key export products to these regions include electronics, agricultural products, and textiles.
Mr. Do Quoc Hung, Director of the Asia-Africa Market Department, emphasized the need for stronger cooperation in areas such as logistics, finance, and digital transformation to support exports. He also encouraged businesses to focus on brand development and trademark protection to increase visibility and secure a stronger foothold in these markets.
Through this seminar, participants gained a clearer understanding of their shared responsibility to limit the negative impacts of trade defense measures and import restrictions on Vietnamese goods. Deputy Minister – Mrs. Phan Thi Thang expressed hope that this understanding would lead to sustainable growth for Vietnam’s exports in the future. Speakers from the Ministry of Industry and Trade also provided updates on market opportunities and challenges, trade defense cases, and shared their experiences in navigating trade defense measures in these regions.