Expanding and diversifying markets is Vietnam’s top priority. Leveraging new-generation free trade agreements like CPTPP, EVFTA, and RCEP, Vietnam is intensifying trade promotion in emerging regions of the Middle East, Africa, and South Asia.
Minister of Industry and Trade Nguyen Hong Dien, at a recent meeting with industry associations, urged industry associations and business groups to outline trade promotion plans aligned with market realities and corporate capacities, while prioritizing the markets where FTAs are proving effective. “At the same time, it’s essential to boldly expand into potential areas in Eastern Europe, Africa, and South Asia to diversify markets and reduce reliance on traditional partners. Second, we must keep monitoring, analyzing, and regularly sharing updates on markets, trade policies, tariffs, and technical standards—especially in key FTA markets—to provide timely input for production and business activities,” said Dien.
Electronics, agriculture, textiles, fisheries, and footwear are the spearheads of export growth. Attracting more high-quality FDI and integrating deeper into global supply chains—particularly in semiconductors, AI, and renewable energy—are now high on the agenda.
Improving processing quality, traceability, and compliance with green standards set by importing markets is also critical. The transition to clean, energy-saving production and increased localization rates are prerequisites to overcome stricter technical barriers in the EU and the US.
According to Phan Thanh Xuan, Vice President of the Vietnam Leather, Footwear and Handbag Association, Vietnam’s advantage lies in having 17 FTAs, a strong foundation for market diversification. “But challenges remain, particularly the need to optimize costs as newly targeted markets pose obstacles. To succeed, businesses must embrace technology strategies to diversify product ranges, making it easier to access markets and reach consumers more effectively,” Xuan added.
Enterprises are at the heart of Vietnam’s export strategy. Accelerating digital adoption and cross-border e-commerce, while meeting sustainability and green standards, is considered the key to market expansion. Sustainable certifications are increasingly seen as “passports” for Vietnamese goods in demanding markets.
Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), said, “With more markets imposing non-tariff barriers and stricter requirements on environment, society, and governance, businesses must invest in green and digital transformation, raise input localization rates to reduce import dependence, and comply with rules of origin and traceability.” “In today’s volatile global economy, Vietnamese companies need more effective and sustainable strategies to tap new markets,” Phong concluded.
Government policies remain pivotal. Beyond negotiating to remove trade barriers and handling trade defense cases to safeguard business interests, the Government is also advancing digital trade promotion programs and developing a national-branded international e-commerce platform.
Do Ngoc Hung, Vietnam’s Trade Counselor in the US, said, “We continue driving trade promotion through fairs and exhibitions to showcase products and explore new export opportunities. Early-warning systems on trade defense cases will also be strengthened to avoid passivity and improve outcomes in future disputes.”
With positive results so far this year and concrete strategies in place, Vietnam has a solid foundation to achieve its 12% export growth target in 2025. Reaching this goal will further solidify Vietnam’s position among the world’s top 20 trading economies.