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International trade

Vietnam Prepares for Trade Defence Forum Amid Global Challenges

Strategic Insights

— 2 min read

The Trade Remedies Authority of Vietnam (TRAV) under the Ministry of Industry and Trade is set to host its second annual Trade Defence Forum in Ho Chi Minh City on September 25, aiming to enhance the capabilities of Vietnamese companies to navigate the complexities of global trade policies. The event comes at a time when Vietnam is grappling with the dual-edged reality of its open economy, facing both opportunities and challenges from the global trade environment marked by intensifying competition and protectionism. The forum will focus on sharpening the acumen of Vietnamese companies, particularly those in the private sector, in wielding trade defence tools to fortify compliance and resilience against the growing tide of trade defence measures.

Key Takeaways:

  • The Trade Defence Forum will converge on risks facing Vietnamese exports, including heightened scrutiny over circumvention and origin fraud in major markets.
  • Discussions will also focus on opportunities and challenges awaiting domestic firms in 2025, with a spotlight on digital transformation, green production, and sustainable growth.
  • The event aims to propel Vietnamese companies deeper into global supply chains and align their trajectories with the imperatives of digital transformation, green production, and sustainable growth.
  • The forum will provide strategic guidance on market integration while stressing compliance with global trade rules, positioning Vietnam for enhanced economic resilience.
  • The private sector is expected to play a critical role in driving sustainable growth, with the TRAV noting the need for enhanced competitiveness and preparedness to overcome international trade barriers.
  • The event will serve as a platform for dialogue among regulators, businesses, industry associations, experts, and organisations to untangle obstacles and bolster support for private-sector enterprises.
  • Vietnamese companies will be at the forefront of navigating the complexities of global trade policies, including heightened scrutiny over circumvention and origin fraud.
  • The TRAV aims to bolster Vietnam's economic resilience against trade defence actions while elevating the private sector's role in driving sustainable growth.

Statistics:

  • The Trade Defence Forum will take place in Ho Chi Minh City on September 25.
  • Vietnam's highly open economy is tethered to an array of free trade agreements.
  • Trade defence measures are increasingly being deployed by nations worldwide to shield domestic industries.
  • Vietnamese exporters face a growing number of trade defence cases abroad.
  • The country is also stepping up its own use of trade defence measures to safeguard its domestic market.
  • The private sector is seen as a backbone of economic growth and employment.
  • The TRAV expects the event outcomes to bolster Vietnam's economic resilience against trade defence actions.

Sources:

  • Vietnam News Agency

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