APEC 2006 - Opportunity for Introducing Vietnamese Land, Enterprises and Products

Joining APEC in late 1998, alongside the efforts on renewing and opening the economy, Vietnam has gradually integrated and made a contribution to the region’s economic development, as well as benefited from a dynamic development of the region. Over the past eight years, APEC has always occupied an important position, making a contribution to Vietnam’s trade and economic development.

 

It is possible to say that Vietnam’s export to APEC economies has seen a stable growth rate, accounting for around 72 per cent of Vietnam’s total export turnover in 2005, earning more than US$23.3 billion. The growth rate was maintained in the first half of 2006 with a total export turnover to the region reaching more than US$13.2 billion, equal to 70 per cent of Vietnam’s total export value.

 

Over the past years, import turnover from APEC always accounted for between 70 and 80 per cent of Vietnam’s total import value. In 2005, Vietnam’s import value from the bloc was put at around US$30.7 billion, equal to 83 per cent of the country’s total import turnover. The figures were put at US$17.4 billion and 84 per cent, respectively, for the first half of 2006.

 

The figures show that APEC plays an important role in Vietnam’s trade development. In the development picture of APEC, Vietnam’s position has improved via action programmes of the forum, in particular via the efforts made by Vietnam to promote economic development, trade promotion and business co-operation.

 

In an effort to contribute to the success of annual APEC summit, trade promotion agencies of Vietnam play an important role, representing the Vietnamese business community in APEC activities, such as activities of ABAC, working groups, and initiatives on supporting small and medium-sized enterprises, initiatives on linking enterprises of APEC member economies. This has contributed to creating a more favourable business environment for enterprises in APEC in general and in Vietnam in particular with opportunities to get access to capital, minimised business costs and a transparent environment.

 

In order to help local enterprises boost their export to APEC markets, trade promotion agencies of the Government and non-governmental organisations and business associations have focused on boosting trade promotion to APEC member economies.

 

Trade, investment and tourism promotion activities of Vietnam with the region have taken place with the organisation of delegations of enterprises to the economies for market study or the reception of delegations of enterprises from APEC member economies to learn about the Vietnamese market. Also, Vietnam provides information and consultancy services for foreign enterprises from the region, organises delegations of enterprises attending major trade fair and exhibitions in major economies of APEC, such as the US, Japan and China, thus contributing to the development of Vietnam’s trade.

 

APEC 2006 in Vietnam is a good opportunity for organising trade promotion and the introduction of the Vietnamese land, enterprises and products. In particular, during the APEC 2006, the APEC CEO summit was held at the same time with other specialised working sessions of APEC 2006. The event saw the participation of more than 1,000 world leading enterprises.

 

Via other dialogues, fairs and exhibitions, and trade promotion activities on the sideline of the APEC 2006, Vietnamese enterprises had opportunities to seek partners and promote their products. At the same, it was an opportunity for the Vietnamese business community to contribute initiatives and express their aspiration, making a contribution to the development of the business environment in the region.