Leaders and representatives of government agencies, experts, and companies have gathered to discuss the solutions. Vietnamese agro-fisheries exporters increase the opportunities in major value chains. While preventing possible loss risks amid changing global trading rules and the wide influence of E-commerce Industry 4.0.
At the conference held on September 13 by the Ministry of Industry and Trade (MoIT). And the Ministry of Agriculture and Rural Development they agreed that the new requirements by China. And other international markets remain a challenge to Vietnamese exporters, urging them to make changes to adapt.
According to experts, giving priority to e-commerce and e-logistics platforms is an optimal solution for Vietnamese exporters. This is to increase the opportunities to join significant value chains while easing possible loss risks.
The issue has become more serious since Vietnam’s agro-fisheries exports to China were down 9.2 percent year-over-year, reaching over $3.8 billion in the first seven months of 2019. The runners-up were fruits and vegetables with $1.6 billion in export turnover, a fall of over 8 percent according to statistics.
The US-China trade tension is partly to blame along with China’s strict regulations on importing agricultural and aquatic products on the land border areas. In fact, China had announced the requirements in mid-2018, but few Vietnamese companies had been aware of them.
“This is an inevitable trend and is aligned with international practices. Not only China but also many other countries are applying stricter requirements for imported products,” said Tran Thanh Hai.
According to Minister of Agriculture and Rural Development, Nguyen Xuan Cuong, if businesses do not catch up and transform in time, they will end up in an embarrassing situation.
Viet Nam has signed a lot of free trade agreements with countries worldwide. If local exporters have the right approach, they can gain huge benefits from these agreements.
E-commerce (CBE) is now a key trend globally and is forecast to continue its growth momentum in the years to come.
DHL’s recent report showed that CBE globally will maintain average growth of 25 percent in the next three years. Accordingly, the total transaction value is projected to rise from $300 billion in 2015 to $900 billion next year.
In Southeast Asia, even though CBE is still in the early stages of development in some areas, it is nonetheless reporting positive growth.