Effective trade promotion channels

Effective channels for trade and export promotion.

The Quy Nhon International Outdoor Fashion Fair (Q-Fair 2024) brings together over 100 reputable outdoor product exhibitors from Vietnam and other countries and territories such as China, Malaysia, Taiwan (China), France, Spain, etc., with more than 1,000 booths.

Taking place from March 9th to 12th at Nguyen Tat Thanh Square, in addition to the exhibition, the fair will feature a series of large-scale events aimed at connecting businesses, introducing and promoting Vietnamese outdoor wood products, as well as showcasing the image of Vietnam and its people, and Binh Dinh province.

Opening Ceremony of the Quy Nhon International Outdoor Style Fair 2024

In his opening remarks at the Fair, Mr. Nguyen Quoc Tri, Deputy Minister of Agriculture and Rural Development, stated that the export value of wood and forestry products in 2023 experienced an unprecedented decline, reaching US$14.47 billion, a decrease of 15.4% compared to 2022. In 2024, due to the ongoing geopolitical conflicts, complex and unpredictable natural disasters and climate change, ongoing economic difficulties, disrupted supply chains, high inflation, and continued consumer spending on non-essential products in general, and wood and our products in particular, organizing the Fair is essential to regain export growth in wood and forestry products.

“With thousands of booths and attracting hundreds of thousands of visitors, this will be an effective trade promotion channel; creating many connections, exchanges, and cooperation; helping to bring the image of Vietnamese wood and wood products to customers worldwide , attracting customers to Vietnamese wood and wood products; helping the wood processing and forestry industry regain its growth momentum in 2024 and the following years,” Deputy Minister Nguyen Quoc Tri shared.

According to several international research organizations, the indoor and outdoor furniture market will reach US$644.1 billion by 2030, with a compound annual growth rate of 5.7% between 2022 and 2030. This forecast predicts significant growth in demand for outdoor furniture, driven by the global consumer trend towards increasingly natural and environmentally friendly materials.

This can be seen as a driving force for the wood industry to continue overcoming current difficulties and challenges, develop a sustainable long-term strategy, further improve quality, diversify products, expand into new export markets, and at the same time, promote strong product segments in traditional markets.

In addition, actively promote trade by organizing and participating in trade fairs and exhibitions, introducing products to partner businesses and consumers to boost product consumption, expand cooperative relationships, and attract investment.

Mr. Vu Ba Phu – Director of the Trade Promotion Department ( Ministry of Industry and Trade ) believes that, with the consensus and active participation of the Ministry, sectors, localities, and wood industry businesses both domestically and internationally, the Quy Nhon 2024 International Outdoor Style Fair will be an effective trade promotion channel helping wood industry businesses develop markets, proactively participate in the global production chain, and contribute to achieving the goal of making the wood processing industry an important economic sector by 2030; building and developing reputable Vietnamese wood product brands in domestic and international markets; and striving for Vietnam to be among the world's leading countries in the production, processing, and export of wood and wood products.

Expanding opportunities for cooperation and seeking solutions for sustainable development.

Each year, Vietnam's wood industry exports an average of over 10 billion USD, making Vietnam the 5th largest exporter of wood and wood products in the world, the second largest in Asia, and the leading country in Southeast Asia. Binh Dinh province is one of the four largest wood processing and export centers in the country, with the wood industry accounting for over 60% of Binh Dinh's export value. In particular, Binh Dinh is increasingly asserting its advantage in engineered wood products and outdoor furniture in both domestic and international supply chains.

Customers visiting booths at the trade fair.

According to Mr. Pham Anh Tuan, Chairman of the People's Committee of Binh Dinh province, Binh Dinh is one of the provinces with the largest number of wood processing factories in the country, concentrated in Phu Tai Industrial Park and Long My Industrial Park, with approximately 300 wood processing enterprises in operation, of which 245 have commenced operations, with a total investment of about 12,000 billion VND. The main markets are the US, EU, UK, Australia, and Japan.

The Quy Nhon International Outdoor Style Fair 2024 is the first wood industry fair held in Binh Dinh province. This year's fair featured a well-planned, professional, and unique investment in the design and construction of numerous large-scale wooden booths, creating innovative and noteworthy images and spaces for promoting trade and exports in Binh Dinh province.

The leaders of Binh Dinh province also believe that the fair will be held annually to implement the province's strategy of making the wood industry a leading industry that develops more green and sustainably based on advanced technology and digital transformation.

Booth participating in the Fair

On this occasion, Binh Dinh province calls upon and hopes that organizations, associations, and businesses will consider researching and exploring opportunities for investment and trade cooperation in Binh Dinh province, especially in the field of wood production and processing and wood products. With a development orientation towards 2030, the main export items of Binh Dinh are wood and wood products worth over 1 billion USD. “We are committed to creating the best conditions and providing the most active support to ensure that partners and businesses can cooperate, invest, and conduct business smoothly and effectively in the locality,” said Mr. Pham Anh Tuan.

Beyond simply promoting products and brands, it also opens up opportunities for collaboration, seeking solutions, sharing experiences, and building strategic partnerships to overcome challenges, not only in the international market but also in the domestic business environment, thereby creating strategic and sustainable connections.

Mr. Le Minh Thien - Vice Chairman of the Vietnam Wood and Forest Products Association, Chairman of the Binh Dinh Wood and Forest Products Association and Head of the Organizing Committee of the Q-Fair 2024 - believes that the Quy Nhon 2024 International Outdoor Style Fair will be an effective trade and export promotion channel, giving wood industry businesses the opportunity to introduce and promote their products. It will be a meeting point for creativity and innovation, allowing businesses to take advantage of this opportunity to seek positive solutions, connect with potential partners, and together bring Vietnam's wood industry to new heights, overcome all challenges, and build a strong, high-quality wood industry with a position in the international market.

Source: https://congthuong.vn/hoi-cho-quoc-te-hang-phong-cach-ngoai-troi-quy-nhon-2024-kenh-xuc-tien-thuong-mai-hieu-qua-307691.html