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Thursday, June 20, 2024

MOIT urges market expansion for Vietnam rice

By C.T

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HCMC – The Ministry of Industry and Trade (MOIT) is urging relevant departments to explore opportunities for expanding export markets for Vietnamese rice.

The request is highlighted in Directive 07 recently issued by the ministry, which focuses on strengthening market information, trade promotion, rice market development, and local market stabilization.

The directive calls for agencies to work with competent authorities to assist businesses in finding new markets and securing more rice export deals in the future.

The Trade Promotion Agency will allocate funds for rice promotion programs and create favorable conditions for rice traders to benefit from free trade agreements to which Vietnam is a signatory. This aims to diversify markets and enhance the competitiveness of Vietnamese rice in the global market.

The Multilateral Trade Policy Department will work with the Import-Export Department to negotiate market expansion and non-tariff measures on rice trading, aiming to remove barriers for Vietnamese rice exports.

The Vietnam Food Association is tasked with monitoring the global rice market’s development, forecasting international consumer demand, local market growth, and actively coordinating with competent authorities under MOIT to propose measures ensuring food security and effective rice exports.

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