Part 2: Diversifying export markets

Previously, Thai Binh enterprises' export goods mainly depended on traditional markets such as China, Taiwan, Japan, Russia, France and some other countries and territories. However, the export market has now been expanded thanks to the province's practical support mechanisms and policies and the dynamism of enterprises in promoting foreign trade.

Export production at First Union Vietnam Animation Technology Co., Ltd. (Thuy Son industrial park, Thai Thuy district).

Open the door inside the house...

In 2023, for the first time, the Provincial People's Committee organized a conference to connect supply and demand to promote the consumption of typical agricultural and industrial products of the province and a conference to develop the provincial rice market directly in Thai Binh and online connection with 18 domestic local bridges, 4 international bridges in Japan, China, Korea, Australia, attracting a large number of businesses to participate.

Most notably, the province successfully organized the cultural exchange program - Connecting Vietnamese - Korean businesses "Thai Binh Homecoming Day" with a series of events such as the Northern Delta international agricultural fair; cultural and artistic exchange between Korean students and Thai Binh students; Thai Binh Homecoming music festival; conference to promote investment, trade and tourism between Thai Binh and Korea. The program attracted many Korean businesses and businesses inside and outside the province to participate.

Mr. Do Van Ve, Chairman of the Provincial Business Association affirmed: The program "Thai Binh Homecoming Day" opens up many cooperation opportunities in the fields of economic, cultural and tourism exchanges between Thai Binh province and Korean partners and helps the province's businesses find "sources" to export goods to the land of Kim Chi.

In order to equip businesses with skills and knowledge on import and export and international economic integration, in recent times, the Department of Industry and Trade, the Department of Agriculture and Rural Development, the Management Board of Economic Zones and Industrial Parks of the province, the Thai Binh Customs Branch, and the Provincial Business Association have organized many professional training conferences, providing market information and new policies on import and export. In particular, the Department of Industry and Trade coordinated with the Export Support Center - Trade Promotion Agency, Ministry of Industry and Trade to organize online connections with trade offices of several countries to advise on exports to potential markets including Myanmar, Chile, Canada, and the United States; coordinated with the Department of E-commerce and Digital Economy, Ministry of Industry and Trade to support businesses in the province to participate in reputable e-commerce trading floors in the country and around the world, contributing to increasing access to international customers.

The Department of Agriculture and Rural Development actively coordinates with agencies and functional units to support enterprises, cooperatives, and business households to participate in fairs and exhibitions, and organize delegations on agricultural product trade promotion. Implement training programs, instruct agricultural production households on digital skills and how to introduce and promote products on e-commerce platforms. To date, the whole province has over 200 agricultural products promoted and introduced on e-commerce platforms such as Postmart, Voso, etc.

Many foreign enterprises participate in the 2023 Northern Delta International Agricultural Fair held in Thai Binh.

...go out into the world

Returning from an investment and trade promotion trip to Switzerland and Germany with a provincial delegation at the end of March, Ms. Phan Thi Cham, Chairwoman of the Board of Directors of Bao Hung International Joint Stock Company, said: Thanks to the connection between the provincial Party Committee and government with the Vietnamese Embassy in countries that organize investment and trade promotion forums, businesses like us have the opportunity to meet with the government, trade organizations and partners to discuss opportunities for cooperation and development. With the advice and support of the Vietnam Trade Office abroad, we have grasped the needs and consumer tastes of the countries, thereby providing solutions for production and bringing goods to the European market in general, Switzerland and Germany in particular.

Over the past 2 years, the province has organized many working delegations to bring businesses to promote investment and trade in Sweden, Norway, France, the Netherlands, the UK, Italy, South Korea, Japan, China, Australia, New Zealand, etc. These are all large markets with great potential and preferential mechanisms on import and export tariffs because they are members of free trade agreements - FTAs that Vietnam participates in, but the province's export turnover to these markets is still modest. Exploiting these markets well will open up the flow of goods exported from the province to the world, not only solving the consumption output but also increasing the production value for people and businesses. And in fact, right after the foreign trade promotion trip, the delegation of Counselors from Sweden and Nordic countries came to Thai Binh to learn about the agricultural and food processing industry, construction materials and support businesses to connect and consume products in the Nordic market.

According to the synthesis and analysis from the Import-Export Management Department, Department of Industry and Trade, the province's goods have been exported to 102 countries and territories. In particular, the Asian, European and American markets have been exploited and developed relatively effectively by enterprises in the province with the export of goods to 74 countries and territories. In the first 4 months of this year alone, the export turnover of goods to these 3 regions reached 772 million USD, accounting for more than 95% of the province's total export turnover and achieving a growth rate of nearly 12%, with exports to the American market alone increasing by more than 22% compared to the same period in 2023.