The ministry is making the most of opportunities and the recovery trends of foreign markets to boost exports, and effectively tackling difficulties in economic and trade relations.
More than 300 international sourcing delegations from 60 countries and territories are expected to arrive in Việt Nam this September to explore sourcing opportunities, as the country steps up efforts to diversify export markets and strengthen global trade links.
In the first half of 2025, steel exports fell to 5.66 million tonnes worth US$3.7 billion, down 13 per cent in volume and 22.5 per cent in value year-on-year.
Thanks to a strong surge in exports, the trade balance for the second half of May posted a surplus of $2.94 billion, raising the total trade surplus for the first five months of this year to $4.67 billion.
A Vietnamese delegation is visiting the US to strengthen bilateral trade relations and explore opportunities to expand imports of US agro-forestry-fishery products, in a move to balance bilateral trade.
Gaining a firm foothold in the domestic market of more than 100 million people is critically important to businesses as the domestic market, which, if properly leveraged, could help offset the decline in export orders.
This is a critical time to intensify efforts against origin fraud and illegal transshipment, as some foreign exporters have taken advantage of Việt Nam as a transshipment point to reroute goods and avoid trade remedies in third countries.
The seminar titled ‘US Countervailing Tariffs and Việt Nam’s Corporate Response’, organised by the Việt Nam Chamber of Commerce and Industry (VCCI) on the morning of April 18, attracted significant attention and participation from economic experts and the business community.
According to analysts of the VCB Securities Company, the outstanding export loans to the enterprises only account for five per cent of the total outstanding loans of the whole banking system,
Being cautious and proactive at this time will help Việt Nam protect its exports to the EU and preserve the international reputation of Vietnamese goods amid an increasingly volatile global trade landscape.
Over the longer term, Việt Nam must consider diversifying export markets, especially those with free trade agreements already in place. Markets in East Asia and the European Union offer viable alternatives based on demand and trade volume.
Phạm Thị Ngọc Thủy, Director of the Office of the Research and Development Department of the Private Economy described the diversification of export markets as a matter of survival for businesses in the current context.
According to the International Trade Centre (ITC), the leading plywood export markets included China ($5.89 billion) Indonesia ($2.51 billion) Russia ($1.9 billion) Brazil ($1.2 billion) and Viet Nam ($1.1 billion).