Implementing the Prime Minister's direction at the Conference on removing difficulties for the wood and fishery industries on April 13, 2023, on the afternoon of May 22, Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu chaired a meeting between the Steering Committee for Economic Diplomacy and Vietnamese representative agencies abroad to assess the challenges, opportunities and impacts of new policies and regulations of the markets on the wood and forestry industry and discuss solutions to support the wood and forestry industry to promote exports and expand markets. Attending the meeting were representatives of the Ministry of Industry and Trade, the Ministry of Agriculture and Rural Development, leaders of the Vietnam Timber and Forest Products Association, the Private Economic Research and Development Board and key associations and enterprises in the wood and forestry industry.
The meeting agreed to assess that the world economic situation in the coming time will continue to be difficult, with profound impacts on industries, including wood and forestry products. In the short term, there are difficulties in sharp declines in demand from markets due to economic difficulties, inflation, consumer demand... In the long term, there are challenges from new policies, regulations and increasing requirements from countries, especially major import markets such as the EU and the US with the Anti-Deforestation Supply Chain Act (EUDR), the Carbon Border Adjustment Mechanism (CBAM), new regulations on supply chains and labor.
The Timber and Forest Products Association, the Private Economic Research and Development Board and businesses requested representative agencies to support product promotion, market development, especially in large markets such as the United States, the EU, and Northeast Asia, and connect partners for businesses. Ministries, associations and businesses also requested representative agencies to help convey to international partners the message of Vietnam's efforts and commitments to ensure origin and readiness to meet environmental standards of markets, contributing to the development of a sustainable wood industry; update market information, warn of policy changes that have a direct impact on the wood industry and advise on appropriate response measures; mobilize countries to resolve investigations and fair trade defense cases against Vietnamese businesses.
Vietnamese representative agencies assessed that in the context of general difficulties, there are still opportunities for the wood industry to take advantage of, such as the large import demand of large markets such as the EU, China's reopening, advantages in Vietnam's FTA network such as EVFTA, RCEP... as well as opportunities in potential markets such as Indonesia... Representative agencies and ministries and sectors suggested that businesses promote product diversification, research to meet the needs of each market, build deep relationships with customers, invest in brand building; strengthen links between businesses to ensure the scale and stability of the supply chain; have a methodical and professional strategy in promoting and developing the market. In the long term, businesses need to focus on investment and technological innovation to meet the increasingly high standards of markets, and carefully prepare the market and legal aspects to limit risks of disputes, trade defense, ensure the origin and source of goods, and legal growing area codes. Representative agencies affirm their readiness to accompany and support businesses in removing difficulties and obstacles and expanding and developing markets.
Concluding the meeting, Deputy Minister Nguyen Minh Vu requested that representative agencies and enterprises pay special attention to two-way communication; provide information such as policy adjustments, warning information, and experiences of other countries in responding to the current difficult situation to promptly advise domestic agencies to proactively take appropriate response measures. Ministries and sectors support wood and forestry enterprises in improving their capacity and ability to respond, meeting increasingly high standards in trade and investment.
To enhance the effectiveness of promotion and advertising, the Deputy Minister requested that associations and enterprises provide representative agencies with specialized information and large-scale wood fairs to connect international businesses. In addition, representative agencies continue to make efforts and be sensitive in supporting the wood industry to expand and diversify markets, especially potential markets with room for growth such as India, Eastern Europe, and the Middle East; closely coordinate with businesses to improve prevention effectiveness, take advantage of political and diplomatic relations to support the satisfactory resolution of disputes and trade defense, and protect the legitimate interests of Vietnamese businesses.
In the coming time, the Ministry of Foreign Affairs will continue to closely follow the directions of the Government and the Prime Minister, organize economic diplomacy meetings with the participation of ministries, branches, localities, associations, and enterprises to promote two-way information work and promptly support the removal of difficulties of key sectors and fields, effectively implement Directive No. 15-CT/TW of the Secretariat on economic diplomacy for development until 2030 and the Government's Action Program for the period 2022-2026 to implement Directive No. 15-CT/TW./.
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