Latest news with #MinistryofIndustryandTrade
The Star
4 days ago
- Business
- The Star
Laos and Vietnam to deepen cooperation in advancing the digital era
VIENTIANE (Xinhua): Laos' Ministry of Industry and Commerce, in collaboration with Vietnam's Ministry of Industry and Trade, held a seminar on Friday aimed at promoting cross-border e-commerce between the two countries. The seminar was attended by Director General of the Department of Foreign Trade under the Lao Ministry of Industry and Commerce Kingsadone Phetdaoheuang, Vietnamese Ambassador to Laos Nguyen Minh Tam, and representatives from relevant sectors, according to Lao Economic Daily. Speaking at the event, Kingsadone emphasized the importance of the seminar as a platform to strengthen business partnerships and enhance bilateral trade between Laos and Vietnam. She noted that the Lao government is actively streamlining its institutional structure to improve efficiency and support the development of e-commerce, particularly in the agricultural sector. Laos has completed the initial phase of its national e-commerce system, which is now ready to support online trade. She added that the seminar would help encourage more entrepreneurs to embrace digital sales channels, boost exports, and enable businesses to operate around the clock with reliable payment and logistics systems. For his part, Tam highlighted the strategic importance of cross-border e-commerce, describing it as the fastest and most effective way for small and medium-sized enterprises in both countries to reach consumers directly, overcoming traditional barriers such as geography and cost. The seminar featured in-depth discussions on building a sustainable e-commerce ecosystem, with expert presentations covering digital platforms, logistics infrastructure, and innovative business models. - Xinhua
The Star
4 days ago
- Business
- The Star
Enterprises in Vietnam expect further trade promotion
HANOI: As global markets remain volatile and unpredictable, Vietnamese enterprises are placing high expectations on trade promotions and export strategies to help them navigate ongoing challenges. The newly issued directive of Prime Minister Pham Minh Chinh, called Directive 18, on solution to promote trade lays out a strategic framework aimed at invigorating domestic and foreign trade promotion in 2025, signalling a robust governmental commitment to economic recovery and sustainable development. Directive 18, issued on June 18, 2025, focuses on a transition from broad-based trade promotion to a more focused, in-depth approach. Its objective is to increase the market share of Vietnamese goods in both traditional markets and those with free trade agreements (FTAs). Domestically, the emphasis is placed on strengthening the internal market as a key pillar of economic resilience. The Ministry of Industry and Trade (MoIT) has also issued a decision to make a detailed action plan to implement Directive 18. The plan underscores the importance of promoting diverse, high-impact trade initiatives tailored to key international markets like the EU, the US, China, Japan, South Korea, and Asean nations. One of the ministry's priorities is to strengthen the implementation of trade promotion programmes for Vietnamese products in both established and emerging markets. In addition to targeting regions with established FTAs, the plan includes strategic expansion into niche and high-potential markets such as the halal segment -- Saudi Arabia, Egypt and the UAE. Key industries targeted for promotion include high-tech sectors like semiconductors, artificial intelligence, automation, machinery, and renewable energy. These efforts are aimed at positioning Vietnam not just as a manufacturing hub but also as a key player in advanced technology supply chains. Meanwhile, the Trade Promotion Agency is tasked with coordinating cross-sectoral efforts and organising national-scale events like Vietnam International Sourcing 2025, a flagship initiative designed to connect Vietnamese firms with international buyers, retailers and distributors. The MoIT's Import-Export Department has been directed to provide enterprises with timely updates on trade policies, consumer trends and technical regulations in FTA markets. Seminars and training will be organised to help businesses fully exploit tariff incentives and comply with international standard, particularly in terms of traceability, environmental compliance and labour regulations. Minister of Industry and Trade Nguyen Hong Dien has also stressed the need to assess bilateral trade balances with major partners such as the US, the EU and China, and to identify opportunities for expanding exports of high value-added goods. The MoIT's Department of Foreign Market Development will play a crucial role in building a dynamic export market database. It will coordinate with trade offices abroad and international trade bodies to monitor and analyse developments in tariffs, quality standards and sustainability requirements across markets in the EU, North America, Asia and beyond. Domestically, the ministry's Department of Domestic Market Management and Development will focus on campaigns, such as 'Vietnamese giving priority to Vietnamese goods', integrating them with broader promotional schemes to boost domestic consumption. Local trade fairs and promotional events will bring Vietnamese products to remote, rural, and economically disadvantaged areas. The strategy aims at enhancing the visibility and accessibility of local brands across the country. Digital commerce is another critical pillar of the action plan. The Department of E-commerce and Digital Economy will spearhead collaborations with major e-commerce platforms to boost Vietnamese products online. Through cross-border e-commerce and regional integration, these programmes aim to accelerate the digital transformation of Vietnamese enterprises and improve their competitiveness in both domestic and international markets. A yarn production line at Ha Nam Textile Co Ltd. The textile and garment industry needs to build domestic material supply chains. - Photo: VNA/VNS file Enterprise opinions Business leaders have largely welcomed Directive 18 as a timely and strategic intervention. Ly Kim Chi, chairwoman of the HCM City Food and Foodstuff Association, said that the directive provided necessary guidance in protecting the authenticity of Vietnamese goods, combating counterfeiting and leveraging digital transformation. "However, enterprises need a detailed action plan announced at the beginning of the year – what products, which markets, the type of support available and the financial terms,' she said. This would enable businesses to plan proactively instead of reacting passively due to information gaps, she added. Chi also noted the importance of aligning import policies with export strategies. Without a well-thought-out sourcing strategy for raw materials and components, Vietnamese exports could lose competitiveness in global markets. 'Supporting small and medium-sized enterprises through financial policies and structured guidance is essential for trade promotion efforts to be truly effective,' she said. Nguyen Van Muoi, deputy general secretary of the Vietnam Fruit and Vegetable Association, said that despite progress in trade promotion by the MoIT and the Ministry of Agriculture and Environment, budget limitations had restricted participation. 'Our association can only join two trade promotion programmes a year, which is insufficient for the number of member businesses we represent,' Muoi said. The volatility in China – a market that once consumed 64 per cent of Vietnam's fruit and vegetable exports – underscored the urgency of diversification. Durian exports, for instance, had seen a sharp decline due to stricter quality control. So, 'trade promotion alone is not enough. Quality is key,' he said, citing a dramatic market share loss in China to competitors like Thailand. In the textile industry, Pham Van Viet, vice chairman of the HCM City Textile, Embroidery and Knitting Association, highlighted the importance of building domestic supply chains. 'To build strong national brands, we must first be proactive in raw material sourcing,' Viet said. He stressed that while many businesses were trying to explore new markets like Australia and Canada, the process was slow and would require strategic, long-term support from the Government. He also called for more structured financial and technical support to help enterprises comply with FTA requirements and boost their competitiveness. The effectiveness of this directive will depend on seamless coordination between central agencies, trade offices abroad, local departments and the business communities. With full implementation, Directive 18 could be a turning point in helping Vietnamese enterprises overcome global challenges and build long-term economic resilience in 2025 and beyond. - Vietnam News/ANN
Zawya
16-07-2025
- Business
- Zawya
Amman hosts Jordanian-Syrian talks to boost economic cooperation
AMMAN — The Jordanian-Syrian Economic and Trade Committee convened in Amman on Tuesday, co-chaired by Minister of Industry, Trade and Supply Yarub Qudah and Syrian Minister of Economy and Foreign Trade Mohammad Samer Khalil. Discussions focused on enhancing cooperation in key areas, including transport, agriculture, customs, standards and metrology, food and drug regulation, industrial cities, and free zones, according to the Jordan News Agency, Petra. Both sides reiterated their commitment to advancing bilateral ties and emphasised the need to mobilise all available resources to overcome obstacles hindering trade, in line with the outcomes of the High Coordination Council meeting held in Damascus, co-chaired by the foreign ministers of both countries. Qudah highlighted the importance of holding regular meetings of the joint committee, noting that such engagements reflect the countries' commitment to expanding cooperation frameworks and addressing challenges arising from the current exceptional international circumstances. Khalil, for his part, described the committee's work as a reflection of the strong ties between the two countries and a practical step toward implementing previously agreed-upon decisions. Secretary-General of the Ministry of Industry and Trade Dana Zoubi, who led the Jordanian delegation in the preparatory meetings, and her Syrian counterpart, Deputy Minister of Economy and Foreign Trade Basel Abdul Hanan, presented a briefing on the outcomes of the sessions concluded on Monday. Key outcomes included the formation of specialised technical committees to ensure continuous coordination and resolve trade-related issues, as well as a joint review of the bilateral free trade agreement with the goal of reactivation through the development of mutually prioritised product lists. The two sides also reaffirmed agreements from recent land transport technical committee meetings held in Amman. Additional outcomes included the reopening of the Bab Al Hawa crossing for transit trade and the completion of maintenance on the Syrian section of the Hejaz Railway, both seen as important steps towards facilitating smoother cross-border trade and regional connectivity. The two sides also agreed to launch a comprehensive capacity-building plan for Syria, including training in consumer protection, market monitoring, competition, industrial property registration, supply systems, warehouse management, issuance of electronic certificates of origin, industrial sector databases, digital transformation, food and drug regulation, and metrology. The committee also discussed steps to expedite the registration of Jordanian pharmaceuticals in Syria. Jordan expressed its readiness to provide technical training and share expertise in regulatory oversight, inspection, horizontal storage, and digital transformation. The Ministry of Industry and Trade is currently developing a digital product to document Jordan's experience in training and e-automation. Both sides stressed the importance of developing unified standards and agreed to establish a timeline for mutual recognition of technical specifications. It was also agreed that certificates of conformity issued by the Jordan Standards and Metrology Organisation would be accepted for Jordanian products entering the Syrian market. The two countries also exchanged indicative lists of agricultural products suitable for mutual trade, along with proposed export timelines aligned with each country's production seasons. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan News
15-07-2025
- Business
- Jordan News
Bilateral Committee Formed to Review Jordan-Syria Free Trade Agreement - Jordan News
Bilateral Committee Formed to Review Jordan-Syria Free Trade Agreement Minister of Industry and Trade, Yarub Qudah, affirmed on Tuesday that the historical relations between Jordan and Syria have "returned to flourish through the efforts of both governments," pointing out that there are royal directives to support Syria since the regime change. اضافة اعلان Speaking during the meetings of the Jordanian-Syrian Joint Economic and Trade Committee, Qudah stated that both sides have established a Joint Coordinating Council to enhance bilateral relations and overcome obstacles to economic cooperation. For her part, Secretary-General of the Ministry of Industry and Trade, Dana Al-Zoubi, outlined the key agreements reached during the meetings, noting a "consensus on forming a bilateral committee to review the Free Trade Agreement between Jordan and Syria, prepare product lists, and form a direct communication committee to address private sector trade challenges." Al-Zoubi added, "We emphasized the need to expedite the reopening of the Bab al-Hawa border crossing and agreed on the mutual recognition of conformity certificates for Jordanian products entering Syria. We will also consider the approval of Jordanian pharmaceuticals," adding that "there was an agreement to provide training to the Syrian side on digital transformation at the Ministry of Industry and Trade." On agricultural matters, Secretary-General of the Ministry of Agriculture, Mohammad Al-Hayari, said: "We agreed to develop an agricultural calendar between the two countries that meets the interests and needs of both sides. Trade exchange between the two countries has seen significant growth." He added, "We agreed to appoint contact points between the two countries to accelerate work and avoid bureaucratic complications." For his part, Syrian Minister of Industry, Mohammad Al-Shaar, said: "Syria has suffered greatly, and we are now facing both a breakthrough and significant challenges in rebuilding the state. We need the help of everyone interested in supporting Syria—Jordan is the first." Al-Shaar stressed that "the two countries need to integrate their interests. We share a common goal: improving the standard of living in both countries." Source: Al-Mamlaka
Yahoo
10-07-2025
- Business
- Yahoo
Vietnam to introduce measures to cope with US tariffs, trade official says
HANOI (Reuters) -Vietnam will devise measures to improve product quality to cope with potential risks from U.S. tariffs, as it seeks to expand exports to other markets and reduce its reliance on the United States, the country's deputy trade minister said on Wednesday. The Ministry of Industry and Trade is coordinating with firms to work on the measures, Phan Thi Thang told an investment conference in Hanoi. The Southeast Asian country reached an agreement with the Trump administration that saw a 20% tariff slapped on its products and a 40% levy on transhipments through Vietnam from third countries. Thang said the tariffs offer a chance for Vietnam to improve its product quality and diversify its export markets, with a focus on markets it has free trade agreements with. "With 16 free trade agreements, Vietnam is expanding its export markets to reduce its reliance on the United States market," she said. Vietnam's gross domestic product grew 7.96% in the second quarter, up from 6.93% in the first quarter, but it remains short of the country's full-year growth target of at least 8%. Prime Minister Pham Minh Chinh said at a separate meeting on Wednesday that reaching that target is a "big challenge."
