HCMC hosts 2024 export forum

The HCMC People's Committee in collaboration with the Ministry of Industry and Trade organized the 2024 export forum on connecting international supply chains in the city on June 6.

The 2024 export forum attracts more than 300 leading importers and the world's retail distributors. (Photo: SGGP)

The forum attracted more than 300 leading importers from 60 countries and territories to participate, including the US, Canada, Mexico, Chile, Venezuela, France, the UK, Germany, Sweden, Italy, Russia, Latvia, Japan, South Korea, Thailand, United Arab Emirates (UAE), Malaysia, China, India, Australia, New Zealand; and the world's leading retail distributors such as Aeon and Uniqlo from Japan, Walmart, Amazon, Safeway from the US, Carrefour and Decathlon from France, Falabella from Chile, Coppel from Mexico, Central Group from Thailand, Lotte from South Korea, Miniso from China, IKEA from Sweden, and Lulu from UAE.

Deputy Minister of Industry and Trade Phan Thi Thang said that the export forum aims to support businesses in solving problems, recovering and developing production, focusing on digital transformation, green economy development, and circular economy.

According to Ms. Phan Thi Thang, total import-export turnover in 2023 is estimated to reach more than US$681 billion, of which exports accounted for US$354 billion. Notably, 35 commodities earned over 1 US$ billion from exports. Among them, seven raked in more than US$10 billion.

In the first five months of 2024, Vietnam's exports were estimated to reach US$156.5 billion, presenting a 15 percent increase compared to the same period last year.

Deputy Minister of Industry and Trade Phan Thi Thang speaks at the export forum. (Photo: SGGP)

Notably, exports to Free Trade Agreement (FTA) markets enjoy positive recovery. New generation Free Trade Agreements (FTAs), bilateral and multilateral FTAs, that Vietnam has signed, have created a large market network to become a driving force for Vietnamese businesses and industries to access the world market

In 2023, Vietnam's export turnover to FTA markets reached US$230 billion, accounting for nearly 65 percent of Vietnam's total export turnover.

Vice Chairman of the HCMC People's Committee Nguyen Van Dung emphasized that the 2024 Export Forum is also an opportunity for businesses to promote their products, expand domestic and international markets, and collect information on consumer trends and changes in consumption habits.

The event takes place in the context of Vietnam has become a major global manufacturing hub that is capable of supplying a wide range of products at competitive prices and with improving quality.

Besides, after the Covid-19 pandemic and amid current geopolitical-economic uncertainties, many enterprises and retail/wholesale networks are stepping up diversification to ensure supply chain sustainability, and Vietnam has been chosen as a strategic destination in their global supply chains.

Vice Chairman of the HCMC People's Committee Nguyen Van Dung delivers his speech at the forum. (Photo: SGGP)

At the forum, many experts said that there is still significant potential in the export market. Businesses need to enhance their production capacity and competitiveness to meet regulations, quality standards, social responsibilities, and environmental requirements, aiming at reaching sustainable green production. The forum also focuses on businesses's difficulties when participating in international supply chains.

The forum also includes export promotion activities towards key and potential markets and supporting businesses in leveraging import tax policies from free trade agreements; activities linking domestic enterprises with importers and internationally leading retail distributors, and supporting businesses to connect with the worldwide leading e-commerce platforms.

The event also consists of training courses on international economic integration, efficient utilization of free trade agreements, and digital transformation in production and business management to help businesses build their brands, and enhance product quality and competitiveness aiming for green production and export.

There are trade connection programs between HCMC’s enterprises and international buyers such as Central Retail, Aeon, Walmart, Costco, Decathlon, Amazon, Coppel, and others. It is a good opportunity for the city’s firms to introduce and promote their products and services, seek business partners, collaborate and develop commercial relationships, and expand their domestic market.

Delegates attend the 2024 Export Forum. (Photo: SGGP)

The 2024 Export Forum affirms HCMC’s commitment to accompanying and supporting businesses in overcoming difficulties and challenges in the context of export markets facing many risks. In addition, the southern metropolis aims to create an environment for active cooperation between Vietnamese businesses and international partners to promote sustainable economic development. Businesses will have an opportunity to equip themselves with the knowledge and skills to conquer challenges when participating in global supply chains and developing export markets, Chairman of the HCMC People's Committee Nguyen Van Dung stressed.

At the forum, display booths of the HCMC’s Investment and Trade Promotion Center (ITPC) present to visitors the local businesses’ products in different areas, including food and drinks; garments, textiles, and fashion accessories; household goods and home décor and more.

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