Firms urged to tackle trade barriers
Firms urged to tackle trade barriers
Vietnamese businesses are not fully aware of technical barriers to trade, said Duong Dinh Giam, general director of the Industrial Policy and Research Institute, at a seminar yesterday in HCM City.
In the international economic integration process, standardisation in general and technical barriers to trade more specifically have become increasingly important, Giam said.
A common trend in international trade is goods lacking import tariffs. However, countries without import tariffs will use other, non-tariff measures to protect domestic production against fierce competition from imported goods, Giam said.
Nguyen Binh Giang from the Import and Export Department under the Ministry of Industry and Trade said the basic solution for businesses is to accelerate market research and promote trade. They must build a long-term strategy to make exported products higher-quality and increase their competitiveness. Moreover, local firms should use more local materials to reduce dependence on foreign suppliers, Giang said.
At the seminar, officials said local firms must raise awareness and disseminate information about technical barriers to trade in Viet Nam's most important export markets, like Japan, the US, Russia, the EU and ASEAN, as Viet Nam becomes more integrated into the global economy.
In addition, the Government should develop programmes to support key export industries, and help them overcome technical barriers to spur export value and effectively penetrate the international market.
