Overseas representative offices to remain by businesses

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Addressing the event, Permanent Deputy Foreign Minister Bui Thanh Son said the ministry’s action plan and directive have highlighted the important role by overseas Vietnamese representative offices in promoting trade, investment and labour cooperation as well as international integration efforts by localities and businesses.

Permanent Deputy Foreign Minister Bui Thanh Son speaks at the event. (Photo: Nguyen Hong)

The agencies should regularly provide updates on the market, trade protection policies and technical barriers of foreign countries against Vietnamese goods, he said.

Over the past time, the diplomatic sector has maintained and consolidated a favourable international environment for domestic enterprises to cooperate with foreign partners, the official added.

According to the deputy minister, the sector has joined hands with ministries and agencies to establish strategic and comprehensive partnerships with 27 partners, and sign 16 free trade agreements (FTAs), creating political, economic and legal premises for Vietnamese businesses to operate equally and beneficially in the international market.

Many representative offices have assisted businesses to participate in and organise trade, investment and tourism promotion activities abroad, and select foreign partners, Son said.

He pointed out a range of challenges facing Vietnamese firms, especially private and small- and medium-sized ones, in the face of increasing protectionism and risks caused by the trade war and the Fourth Industrial Revolution.

Besides, Vietnam is expected to join a total of 16 FTAs with 59 partners in the next few years, and will implement its commitments to open markets, thus offering a “matrix” of rules and incentives to businesses.

Given this, the ministry and representative offices are trying to deal difficulties in operational network and personnel to meet diverse and complex demands of businesses, Son noted.

He suggested the agencies and enterprises set up an information exchange mechanism and a coordination model to become trustworthy strategic partners of each other.

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