Diversifying markets and products: Driving force for the target of a trade surplus of 30 billion USD

(Chinhphu.vn) - On the morning of September 9, Minister of Industry and Trade Nguyen Hong Dien chaired a trade promotion conference with the Vietnamese trade office system abroad in August 2025 with the theme "Diversifying markets, export products, diversifying import sources to promote export turnover growth in 2025".

Director of the Trade Promotion Agency Vu Ba Phu informed about the trade picture in the first 8 months of the year

According to Mr. Vu Ba Phu, Director of the Trade Promotion Agency, the import-export target this year assigned by the Government to the Industry and Trade sector is extremely heavy but also full of expectations: Total export turnover of goods must increase by 12% and trade surplus must reach about 30 billion USD. This is an important goal to create a premise for the period 2026 - 2030, when the economy enters a new phase with the orientation of sustainable growth and maximizing the advantages from the free trade agreements (FTAs) that Vietnam has signed.

The trade picture in the first 8 months of 2025 shows many positive signs. Total import-export turnover reached nearly 305 billion USD, up 14.4% over the same period in 2024, an impressive result in the context of the global economy still having many uncertainties, trade conflicts and geopolitical fluctuations that have severely affected the international supply chain. In particular, the FDI sector continues to play a key role with 228 billion USD, up over 18%, while the domestic enterprise sector only reached 76.5 billion USD, up 3%. This reflects both the outstanding resilience of the FDI sector and the limitations in the competitiveness of domestic enterprises. This is a big challenge for the Government and the Ministry of Industry and Trade in supporting and enhancing the position of Vietnamese enterprises in the global value chain.

Opportunities from key markets

At the conference, representatives of Vietnamese Trade Offices abroad provided a lot of information on market trends, pointed out opportunities to expand market share but also frankly pointed out challenges. Regarding the Chinese market, Mr. Nong Duc Lai, Vietnam Trade Counselor in China, said that the world's second largest economy is actively expanding investment and trade relations, continuously adding industries that are allowed to invest and applying many tariff incentives. In particular, China has shown more openness to imported agricultural and aquatic products. In the first half of 2025 alone, the country has licensed about 15 agricultural, forestry and aquatic products from nearly 20 countries such as Cambodian durian, Malaysian fresh coconut, Ecuadorian mango, Gambian cashew nuts or aquatic products from New Zealand, Brazil, Kenya.

The US market continues to prove its role as a pillar in Vietnam's export turnover. Mr. Do Ngoc Hung, Vietnam Trade Counselor in the United States, informed that in the first 7 months of 2025, bilateral trade turnover reached 114.5 billion USD, an increase of 41% over the same period in 2024. Of which, Vietnam's exports reached 106 billion USD, an increase of 44%, while imports from the United States were only 8 billion USD, bringing the trade surplus to 98 billion USD. This is a record number, reflecting the strong appeal of Vietnamese goods in this market.

Key product groups such as machinery, equipment, wood and wood products, textiles, and seafood all maintained high growth, with many items increasing from 15% to more than 100%. In particular, the Vietnam International Sourcing 2025 event has helped Vietnamese businesses directly access large distribution systems and participate more deeply in the global supply chain. However, there are still many challenges. Trade defense measures are increasingly dense, while tariffs and rules of origin remain major barriers. Mr. Hung emphasized that businesses need to be transparent about their origins, strictly comply with production processes, and proactively forecast and prepare to respond to trade lawsuits.

Representatives of departments, agencies and units of the Ministry of Industry and Trade attended the conference.

Making effective use of FTAs

Mr. Ngo Chung Khanh, Deputy Director of the Multilateral Trade Policy Department, said that although the absolute value from FTA markets has brought positive contributions, in terms of proportion, many markets such as the EU, India, Mexico or Canada have not achieved growth, and even have a downward trend. This proves that many Vietnamese enterprises have not fully exploited the room from the agreements. According to Mr. Khanh, to make good use of FTAs, Vietnam needs to determine specific targets for each market, which are priority markets, which are key products, and what growth rate to achieve. On that basis, trade offices, enterprises and domestic units must coordinate smoothly, clearly define responsibilities instead of just stopping at general measures.

A notable warning from Ms. Truong Thuy Linh, Deputy Director of the Department of Trade Defense, said that many trade defense cases against Vietnamese goods have been initiated and the scope of investigations is constantly expanding, especially investigations into evasion. Countries are currently focusing on the origin of imported raw materials that Vietnamese enterprises use to produce export goods. This poses an urgent requirement for enterprises to diversify their raw material sources, avoiding dependence on a number of markets that are susceptible to anti-dumping or anti-subsidy measures. At the same time, she requested that trade offices proactively monitor developments closely and promptly notify associations and enterprises to have appropriate adjustment plans.

From the perspective of market development, Mr. Ta Hoang Linh, Director of the Foreign Market Development Department, pointed out that some current indicators are still too low compared to the requirements. He proposed three key groups of solutions for trade deals: Increasing contact with local traders, distribution systems and industry associations to seek opportunities and promote transactions; mobilizing and organizing many foreign business delegations to Vietnam to seek supply sources, participate in trade fairs and exhibitions, continuing the success of Vietnam Sourcing with more than 450 delegations and nearly 10,000 B2B contacts; and finally, actively working with local agencies to remove trade barriers, promote new FTA negotiations, and advocate for market opening for Vietnamese agricultural and aquatic products.

For associations and businesses, Mr. Linh emphasized the need to strictly comply with food safety control procedures, standardize and make the supply chain transparent to meet the increasingly stringent requirements of import markets, especially the EU and China. Businesses need to proactively update new regulations, especially on pesticide residues, and invest in greening the production process to comply with international environmental and labor standards.

Minister Nguyen Hong Dien emphasized that to achieve the growth target, market classification and implementation of specific tasks are key requirements.

Concluding the conference, Minister Nguyen Hong Dien emphasized that to achieve the growth target, market classification and implementation of specific tasks are key requirements. For markets with negative growth, the trade office must quickly find the cause, restore orders and remove barriers. For low-growth markets, the task is to promote exports by at least 8.5%. For the medium-growth market, it is necessary to maintain the growth momentum and raise it to 12%. Meanwhile, the high-growth group must continue to play the role of "locomotive", striving for over 15% to pull up the entire turnover.

Not stopping at opening up the market, the Minister also emphasized the need to improve the resilience of businesses. Accordingly, businesses need to boldly participate in the digital trade promotion ecosystem, proactively diversify supply chains and raw material sources, invest in green technology and traceability. Industry associations must become a connecting point, provide timely information, orient the market and support members in building their brands.

In addition, the Minister also requested ministries and branches, especially the Ministry of Finance, the State Bank, the Ministry of Agriculture and Environment, and the Ministry of Foreign Affairs to coordinate closely to remove obstacles for businesses. Solutions from tax, credit, quarantine and inspection policies to FTA negotiation must all be implemented synchronously and promptly.

For localities, the Minister requested to be more proactive in supporting export enterprises. Localities were asked to quickly receive and share information from Vietnamese counsellors and trade offices abroad, thereby helping local enterprises promptly adjust their production and business plans, avoiding being passive in the face of new barriers. Along with that, local authorities need to closely coordinate with enterprises and industry associations to form sustainable supply chains, increase value and meet the strict requirements of the international market.

Anh Tho

Source: https://baochinhphu.vn/da-dang-hoa-thi-truong-san-pham-dong-luc-cho-muc-tieu-xuat-sieu-30-ty-usd-102250909130706187.htm