PM askes measures to aid farm exports amid global trade volatility

PM askes measures to aid farm exports amid global trade volatility

The PM asked the Minister of Agriculture and Environment to raise appropriate measures to strengthen domestic production to ensure food security and exports in all circumstances.

Prime Minister Phạm Minh Chính has asked ministries and local authorities to enhance efforts to shore up production and exports of agro-forestry-fishery products amid mounting global trade uncertainty. — VNA/VNS Photo

Prime Minister Phạm Minh Chính has asked ministries and local authorities to enhance efforts to ensure production and exports of agro-forestry-fishery products amid mounting global trade uncertainty.

Global trade is expected to see disruptions due to the shift in tariff policies of some countries, posing risks to Việt Nam’s agro-forestry-fishery production and exports, according to the Official Dispatch No 59/CĐ-TTg dated on Thursday.

However, the document stressed that this presents significant opportunities for the sector to accelerate diversification and transition toward sustainability.

Under the dispatch, the PM asked the Minister of Agriculture and Environment to raise appropriate measures to strengthen domestic production to ensure food security and exports in all circumstances.

The focus must be on advancing sustainable agricultural restructuring, applying advanced technology, establishing value chains, developing brands and preparing price-support measures for crops during their harvest seasons such as rice, coffee and pepper.

The Ministry of Industry and Trade has been requested to increase trade promotion to expand and diversify markets, especially with markets with trade agreements with Việt Nam.

The Ministry of Finance will study and raise appropriate tax policies for agro-forestry-fishery products which are affected by the trade volatility and to provide support in seeking alternative markets. The State Bank of Việt Nam will study the expansion of preferential credit package for the sector.

The PM asked for more efforts to crack down on origin frauds, price manipulation and counterfeiting. Enterprises should closely watch the market developments, strengthen value chains, invest in modern technologies and develop brands to enhance competitiveness.

Agro-forestry-fishery export touched a record high of US$62.5 billion in 2024. 

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