MoIT holds online meeting with overseas trade offices

MoIT holds online meeting with overseas trade offices

In China, Commercial Counsellor Nông Đức Lai reported an active push to expand investment and trade, with new eligible sectors and tariff incentives and a more open stance toward imported agro-aquatic goods.

Trade officials at an online meeting with Việt Nam’s overseas trade offices on Tuesday. Photo baochinhphu.vn

Việt Nam is aiming for export growth of 12 per cent and a trade surplus of about US$30 billion, laying foundations for development with an emphasis on sustainable growth and better use of free trade agreements (FTAs) over the next five years, according to Minister of Industry and Trade Nguyễn Hồng Diên.

Diên made the statement during an online meeting with Việt Nam’s overseas trade offices on Tuesday.

A report from the Ministry of Industry and Trade (MoIT) showed positive signs during the first eight months of 2025. Total trade neared $305 billion, up 14.4 per cent year-on-year despite global uncertainty, trade frictions and geopolitical shocks to supply chains.

Foreign-invested firms exported $228 billion worth of goods from Việt Nam, up more than 18 per cent, while exports from domestic firms reached $76.5 billion, up 3 per cent. The gap between the two underscores both the strength of foreign investment as well as the need to raise the competitiveness of Vietnamese enterprises so they move higher in global value chains.

Trade offices outlined opportunities and risks across key markets. In China, Commercial Counsellor Nông Đức Lai reported an active push to expand investment and trade, with new eligible sectors and tariff incentives and a more open stance toward imported agro-aquatic goods.

In the first half of 2025 alone, China approved around 15 agricultural, forestry and fishery products from nearly 20 countries, including Cambodian durian, Malaysian coconuts, Ecuadorian mangoes, Gambian cashews and seafood from New Zealand, Brazil and Kenya.

The United States remains a pillar. According to US Commercial Counsellor Đỗ Ngọc Hưng, bilateral trade in the first seven months reached $114.5 billion, up 41 per cent year-on-year. Việt Nam’s exports hit $106 billion, up 44 per cent, with imports from the US at $8 billion, producing a record surplus of $98 billion.

Machinery, wood and wooden products, textiles and garments, and seafood all posted strong gains, with exports of several goods growing between 15 per cent and over 100 per cent.

Vietnam International Sourcing 2025 helped firms link directly with major distribution systems and integrate more deeply into global supply chains. Yet challenges are intensifying, including proliferating trade defence measures and rules-of-origin compliance. Businesses must ensure traceable, transparent origins, strict production controls and proactive preparation for potential cases.

To better leverage FTAs, MoIT Deputy Director-General Ngô Chung Khanh noted that while headline contributions are positive, the shares of some partners, such as the EU, India, Mexico and Canada, have stagnated or declined.

He called for market-by-market targets that specify priorities, core products and expected growth, with tight coordination and clear responsibilities among trade offices, businesses and domestic units.

Trade remedy risks are rising. MoIT Deputy Director-General Trương Thùy Linh warned of broader investigations, especially into circumvention, with attention shifting to the origin of imported inputs used in Vietnamese production.

Firms should diversify input sources to avoid concentration in markets vulnerable to anti-dumping or anti-subsidy actions, while trade offices should closely track developments and alert associations and enterprises in time.

From a market development angle, MoIT Director-General Tạ Hoàng Linh urged three priorities for trade offices: intensify engagement with local traders, distributors and industry groups to unlock opportunities and transactions; mobilise more inbound buyer missions to Việt Nam, maintaining strong participation in fairs and exhibitions and building on Vietnam Sourcing’s result of more than 450 delegations and nearly 10,000 B2B meetings; and work with host authorities to remove barriers, advance FTA talks and open markets for agro-aquatic goods.

For associations and enterprises, he stressed strict food safety controls, supply chain standardisation and transparency to meet tightening requirements, notably in the EU and China, along with up-to-date compliance on pesticide residue rules, greener production and robust traceability aligned with international environmental and labour standards.

Bizhub