A trade connection activity at Vietnam Foodexpo 2023 (Photo: https://moit.gov.vn/)

At a conference themed "Vietnamese agricultural products and food in the digital era", many experts and representatives from businesses updated relevant regulations, mechanisms and policies on applying information technology (IT) and digital transformation in trade promotion activities.

According to Deputy Minister of Industry and Trade Do Thang Hai, with unique advantages and potential, the food industry is considered one of Vietnam's spearhead industries which plays an important role in promoting exports.

The MoIT is actively coordinating with many related units to promote activities and solutions for developing markets, improving product quality, building brands and gradually increasing the export value of Vietnamese food in the international market as part efforts to promoting sustainable development of the food industry, Hai said.

Although facing many difficulties due to the impact of the economic situation both at home and abroad, Vietnam's export prospects, especially for the farm produce and food industry, to major markets, still remain positive, he stressed.

The Vietnamese business community has increasingly focused on applying IT and digital transformation to expand sale channels, increasing investment in digital technology, researching and developing products, building brands, and strengthening trade promotion, he added.

According to Marketing Director of Alibaba.com Vietnam Nguyen Thi Phuong Uyen, this unit and the MoIT’s Vietnam Trade Promotion Agency (Vietrade) are coordinating to develop a Vietnam pavilion on Alibaba.com, which gathers typical products and businesses participating in the global business-to-business (B2B) e-commerce platform to help Vietnamese brands reach out to the world market.

Meanwhile, at a conference to promote trade connection between Vietnamese and Chinese businesses in the fields of agriculture and fisheries, Vietrade Deputy Director Le Hoang Tai said there is ample room for the two countries to further expand economic and trade cooperation in the coming time.

Vietnam’s participation in free trade agrements (FTAs) has helped attract investors from China, as well as businesses that want to take advantage of the FTAs in production and export activities.

Vietnamese Trade Counselor in China Nong Duc Lai said to enhance trade connection between the Vietnamese and Chinese markets, Vietnam’s agricultural and aquatic products must meet increasingly high requirements of China in terms of quality standards, food safety, traceability, and packaging.

The Vietnamese business community should focus on opportunities to attract Chinese businesses operating in the field of processed food, thus seeking ways to boost cooperation with Chinese partners and expand market to this Asian country, he said.

Statistics showed that the import-export turnover between the two countries reached 103.92 billion USD in the first eight months of 2023. China was Vietnam's second largest export market in the period. The two-way trade is predicted to maintain growth momentum and achieve positive results in 2023.

Vietnam Foodexpo 2023, which will last until November 25, features more than 500 booths of nearly 400 domestic and international enterprises, including businesses from 30 Vietnamese cities and provinces and more than 20 countries and territories such as the US, Russia, Australia, China, the Republic of Korea, Japan.

On display are a wide range of agricultural products, aquatic products, processed foodstuff and beverages, as well as food processing, preservation and packaging technologies and equipment, among others.