Support for businesses to penetrate key markets - Support for businesses to penetrate key markets - Website Ho Chi Minh City
An export forum held in Ho Chi Minh City on September 12 discussed how businesses could boost sales through the development of high-quality popular brands.
Most importantly, businesses needed to develop products that were competitive in the domestic markets Dr. Tran Du Lich, a member of the National Assembly Committee for Economics, said.
In addition to the benefits and opportunities provided by open markets, such as diversifying products and expanding operations, enterprises should be aware of the technical barriers and anti-dumping duties imposed by importers.
Participants in the forum suggested businesses actively engage with member countries of the Association of Southeast Asian Nation (ASEAN) and the Trans-Pacific-Partnership (TPP), and other promising markets, not just traditional markets, such as the US, the EU and Japan.
According to Japanese Consul General to Ho Chi Minh City, Nakajima Satoshi, Vietnamese firms needed to focus on improving food health and safety standards, refining preservation processes, and following import-export regulations in order to boost their exports to foreign markets.
The Secretary of the Vietnamese Embassy in India Bui Trung Thuong suggested local exporters study their target markets closely and implement trade promotion measures.
Vietnam and India aim to generate 7 billion USD in bilateral trade by 2015.
Between January and August, Vietnam’s export revenue totalled nearly 97 billion USD, a year-on-year rise of 14.1 percent.
The annual export forum titled “Orienting Export Markets and Products” was organised by the municipal Investment and Trade Promotion Centre (ITPC).