Unblocking foreign markets: Preventing waste of resources, improving the efficiency of import and export activities

The Ministry of Industry and Trade always focuses on implementing solutions to open up foreign markets to prevent waste of resources and improve import and export results.

Unlocking foreign markets

Import and export continue to be one of the bright spots in Vietnam's economic picture, continuously maintaining high double-digit growth in 2024 and gradually approaching the record high of 800 billion USD. This figure is the result of the consistent direction of the Government, the efforts of ministries, branches, associations and enterprises. In which, the Ministry of Industry and Trade plays a key role.

Identifying that facilitating import and export is an extremely important solution to save time and costs for businesses; save resources for state management agencies; improve import and export efficiency, and bring foreign currency to the country, the Ministry of Industry and Trade has recently implemented many solutions to create the most favorable conditions for businesses in import and export activities.

Regarding the issuance of Certificates of Origin (C/O), in recent times, the Ministry of Industry and Trade has always created maximum convenience for businesses through the issuance of electronic C/O. According to information from the Import-Export Department - Ministry of Industry and Trade, after efforts to negotiate with partner countries to have electronic certificates of origin (C/O) recognized, on January 1, 2024, Vietnam officially implemented the issuance of electronic C/O for 10 preferential C/O forms including C/O form AJ, form AANZ, form VJ, form E, form S, form VC, form CPTPP, form AHK, form VN-CU, form RCEP.

With the implementation of the above 10 C/O forms, enterprises in need of applying for C/O and the Ministry of Industry and Trade will save costs of printing C/O forms, travel costs to submit documents and receive paper copies of C/O of more than 600,000 sets of documents (C/O issuance data in 11 months of 2024), and costs of transporting and storing paper documents.

The Ministry of Industry and Trade has also continuously proposed to cut down administrative procedures in the field of import and export that are no longer suitable. According to Document No. 6613/BCT-PC dated August 30, 2024 on participating in giving opinions on the draft Plan to cut down and simplify regulations related to business activities of the Ministry of Industry and Trade in 2025, there are 19 administrative procedures in the field of import and export proposed by the Ministry of Industry and Trade to be cut down.

The Conference of Trade Counselors and Heads of Trade Offices in the Asia - Africa region was organized by the Ministry of Industry and Trade (Photo: Nguyen Minh)

For the past 3 consecutive years, the Ministry of Industry and Trade has organized monthly trade meetings to update market information quickly and accurately for businesses. In addition, the Ministry of Industry and Trade has also done a good job of early warning of trade defense, helping many industries avoid trade defense barriers from host countries. Recently, the Conference of Trade Counselors and Heads of Trade Offices in the Asia - Africa region was also organized to open up solutions from trade deals and promote exports to this market area.

The trade conference is a regular activity of the Ministry of Industry and Trade (Photo: Ngoc Hoa)

At the same time, direct the Vietnamese Trade Office system abroad to regularly and continuously update information on regulations and policies of the host market, promptly provide information and recommendations to industry associations and export enterprises on the websites of the Ministry of Industry and Trade and Vietnamese Trade Offices abroad.

The Ministry also works with industry associations to resolve difficulties related to freight costs when tensions arise in the Red Sea; promptly advises industry associations and export enterprises in the context of instability in Israel.

Speaking to reporters of the Industry and Trade Newspaper, Dr. Le Quoc Phuong - Former Deputy Director of the Center for Industry and Trade Information - Ministry of Industry and Trade, assessed that Vietnam has recently signed an FTA with the UAE. This is a sweet fruit, in which the Ministry of Industry and Trade has made a great contribution. Since 2022, the Ministry of Industry and Trade of Vietnam and the Ministry of Economy of the UAE have proactively studied the possibility of negotiating and signing a bilateral free trade agreement (FTA), and the signing of the FTA is expected to bring great results to Vietnam's trade with the UAE as well as the Middle East region.

Removing difficulties for border gate areas

Identifying border gate economy as an important element in the economy of border localities and the whole country, the Ministry of Industry and Trade always pays special attention to the economic situation at border gates, especially the border gates with China.

During his working trip to Lao Cai on August 30, Minister of Industry and Trade Nguyen Hong Dien took the time to inspect the Kim Thanh - Lao Cai border gate. The Minister also requested the locality to focus on investing in logistics infrastructure, warehouses, and yards, especially in the Lao Cai Border Gate Economic Zone, facilitating the development of goods circulation and effectively exploiting the border gate economy, contributing to building Lao Cai into a center connecting trade between Vietnam and ASEAN countries with the Southwest region - China and further to Eastern Europe...

Previously, during difficult periods of border trade, leaders of the Ministry of Industry and Trade were always present at "hot spots" to help businesses.

Regarding the border gate with Laos, in order to continue promoting trade and economic cooperation between the two countries, the Governments of Vietnam and Laos have assigned the Ministries of Industry and Trade of the two countries to negotiate, amend and supplement to build a new Vietnam - Laos Trade Agreement suitable to the current context. After a 3-year negotiation process, the new Vietnam - Laos Trade Agreement was signed by the Ministers of Industry and Trade of the two countries on behalf of the Governments of the two countries on April 8, 2024. The Agreement covers important issues in trade cooperation between the two countries, including: Regulations on market access for goods and services; trade facilitation; trade promotion and e-commerce application; cooperation in combating smuggling, trade fraud, anti-money laundering and illegal cross-border transportation.

Next, the Ministry of Industry and Trade also developed and submitted to the Government for promulgation Decision No. 1247/QD-TTg dated October 23, 2024 promulgating the Plan to implement the Memorandum of Understanding on development and connection of border trade infrastructure between the Government of the Socialist Republic of Vietnam and the Government of the Lao People's Democratic Republic (Plan).

The purpose of the Plan is to effectively implement the Memorandum of Understanding on the Development and Connectivity of Border Trade Infrastructure between the Government of the Socialist Republic of Vietnam and the Government of the Lao People's Democratic Republic (the Memorandum).

At the same time, facilitate coordination between ministries, branches, and border localities of Vietnam and between competent authorities of Vietnam and competent authorities of Laos in implementing the Memorandum of Understanding through the Focal Points of the two countries.

Contribute to promoting the development of border trade infrastructure between the two countries. Serve as a basis for Vietnam's border provinces to develop plans for border trade infrastructure development in border provinces.

The 23rd Vietnam - China International Trade Fair (Lao Cai), 2023 ( Photo: Can Dung)

The Ministry of Industry and Trade also regularly organizes trade promotion programs through border gates. Mr. Le Hoang Tai - Deputy Director of the Department of Trade Promotion - Ministry of Industry and Trade said that border trade activities are always of great interest to the Government and ministries and branches.

For example, Vietnam and China always focus on organizing alternating pairs of Vietnam-China trade fairs. This activity has been carried out for 20 years and is very effective. The number of Vietnamese and Chinese enterprises participating in the fair is very large.

Only the 2023 Vietnam-China Trade Fair held in Lao Cai with the theme "Promoting the role of a bridge between Lao Cai and Yunnan - promoting comprehensive cooperation and sustainable development" attracted 529 standard booths and 88 exhibition areas from nearly 300 enterprises from 50 provinces and cities in the country, 8 provinces and cities in China and 8 other countries to participate. Thereby, a series of trade contracts were signed after the fair to promote exports to China.

Or for Laos and Cambodia, there are many fairs of Vietnamese localities in the National Trade Promotion Program that are supported with funding. Local fairs with Laos and Cambodia such as fairs in An Giang, Quang Tri, Quang Binh have attracted the participation of businesses from Vietnam and other countries.

The solutions of the Ministry of Industry and Trade have been contributing to removing bottlenecks in exporting through border gates and opening up foreign markets. Thereby, saving time, human resources and resources to ensure export growth targets.

Source: https://congthuong.vn/khoi-thong-thi-truong-ngoai-nuoc-chong-lang-phi-nguon-luc-nang-cao-hieu-qua-hoat-dong-xuat-nhap-khau-365566.html