Efforts to promote integration

Contributing to the nation’s efforts to achieve the Government’s 8-10-percent growth target for 2025 and a double-digit growth rate in the next phase, the MoIT has set a 12-percent annual growth target for export-import value in 2025.

To achieve this target, since the early days of the Lunar New Year, Minister of Industry and Trade Nguyen Hong Dien has emphasized that economic integration and trade connectivity will be among the top priorities in achieving the growth objectives of the industry and trade sector in particular and the nation as a whole.

Phung Van Thanh, Vietnamese Trade Counselor in the Philippines (left), at the booth of the Vietnam Trade Office in the Philippines at the Manila Foods and Beverages Expo (MAFBEX 2024)

Following the directives of Minister Nguyen Hong Dien, since January 2025, the market departments of the MoIT, along with Vietnamese trade offices abroad, have developed plans and proposed solutions to promote bilateral trade cooperation with partners and expand export markets for domestic goods.

Identifying the Asia-Africa market as Vietnam’s strategic export region, the Asia-Africa Market Department of the MoIT will prioritize monitoring and updating market information and partner policies throughout 2025 to promptly disseminate this information among domestic businesses and industries, thereby promoting trade with countries in the region.

“The highest goal is to mobilize competitive advantages and seize export market opportunities by supporting businesses and industry associations in effectively exploiting traditional markets with untapped potential,” said Do Quoc Hung, Director of the Asia-Africa Market Department.

Phung Van Thanh, Vietnamese Trade Counselor in the Philippines, said that the Philippines is currently an attractive destination for Vietnamese exporters. To strengthen trade between the two countries in 2025, the Vietnam Trade Office in the Philippines has intensified efforts to promote Vietnam’s image, culture, and products to Filipino partners, business clients, and consumers through trade fairs, exhibitions, product weeks, as well as conferences and seminars aimed at promoting bilateral trade.

Similarly, for the Europe-America region, Ta Hoang Linh, Director of the European-American Market Department of the MoIT, said that the existing free trade agreements (FTAs) with European and American partners continue to have a positive impact, maintaining Vietnam’s competitive advantage in trade and investment. Therefore, to maximize benefits and minimize challenges to Vietnam’s export-import activities, in 2025, the department will focus on market development, support businesses in leveraging market opportunities and FTA incentives, resolve difficulties, and protect the legitimate rights of enterprises.

Processing tra fish for export - photo: VNA

Accelerating exports

Chairing the Government’s regular meeting for January 2025, Prime Minister Pham Minh Chinh stated that this year’s exports could face significant challenges, including trade protectionism and US tax policies, as the US is one of Vietnam’s key export markets. Additionally, the risk of escalating global trade tensions due to retaliatory tariff measures between major economies could also have a negative impact on Vietnam’s export activities.

Given this situation, the Prime Minister emphasized the importance of maximizing the benefits of the FTAs that Vietnam has signed while also accelerating efforts to explore new trade deals, including agreements with the Middle East region, as well as other FTAs that are currently under negotiation.

Emphasizing the importance of leveraging FTAs to boost exports, Minister Nguyen Hong Dien stated that it is essential to enhance international economic integration, promote negotiations to sign new trade agreements, and upgrade existing FTAs with potential partners to drive growth, strengthen trade and investment cooperation. He also stressed the need to support businesses in building brands, promoting sustainable exports, and effectively utilizing the FTAs with Vietnam being a member to diversify markets for Vietnamese goods and accelerate exports./.