On the morning of June 6, the Ho Chi Minh City Trade and Investment Promotion Center in collaboration with the Department of European and American Markets (Ministry of Industry and Trade) organized the 2024 Export Forum with the theme "Connecting international supply chains". The forum is part of the series of events Connecting international supply chains (Vietnam International Sourcing Expo 2024) taking place from June 6 to 8.

Overview of the 2024 Export Forum with the theme "Connecting international goods supply chains" taking place on the morning of June 6. Photo: Minh Anh

At the forum, Mr. Aly Ansari, General Director of Walmart Vietnam, said that Walmart is the largest retailer applying the multi-channel sales model in the world. Every week, Walmart records more than 255 million visits through 10,500 stores, clubs and websites in 19 different countries. Excluding the US, Walmart ensures access to goods and services for more than 40% of the world's population. The number of partners affiliated with Walmart worldwide has reached more than 2.1 million companies.

“Vietnam is one of Walmart’s most important sourcing markets in Asia. Walmart’s sourcing team is always ready to support the export of Vietnamese products to global markets, including the US, Canada, Mexico, Chile and China. Vietnam’s top export items include apparel, electronics, hardware and many others. In addition, we are also looking for products in other categories such as toys, food... from Vietnam,” Mr. Aly Ansari emphasized.

According to a Walmart representative, the group sees potential in many Vietnamese product categories and wishes to cooperate on a larger scale, exploiting sourcing opportunities with more Vietnamese products, serving both its brand building and market development goals worldwide.

Mr. Akiyama Naoki, Chief Operating Officer and Chief Financial Officer of Uniqlo, also revealed that many key products requiring advanced production processes such as AIRism, UV Parka, Polo, HEATTECH, Fleece are all produced in Vietnam. By 2024, made-in-Vietnam items will account for more than 60% of the company's products in domestic stores and the Japanese retailer is trying to increase this ratio.

According to international buyers, Vietnam is an important supply market and this role will continue to be enhanced in the future. However, Vietnam needs to understand the customer market to sell successfully.

The forum is part of the Vietnam International Sourcing Expo 2024 event series, attracting 600 Vietnamese businesses and a large number of international buyers. Photo: Minh Anh

As one of the Vietnamese dairy enterprises that has approached the export market, Mr. Hoang Cong Trang, General Director of TH Group, said that the circular economic model and green economy are no longer an option but have become an inevitable path for businesses. Customers and investors increasingly value social and environmental factors in evaluating products and services when choosing partners to participate in the supply chain.

“Therefore, to participate in the international supply chain, businesses must not only comply with the regulations of the host country but also meet international practices. For example, the European Union's cross-border carbon adjustment mechanism or the European Anti-Deforestation Regulation…”, the General Director of TH Group shared.

According to Deputy Minister of Industry and Trade Phan Thi Thang, in 2023, Vietnam's total import-export turnover will reach more than 681 billion USD. Of which, exports will reach 354.7 billion USD, imports will reach 326.4 billion USD. The trade balance of goods in 2023 will have a trade surplus of 28.3 billion USD.

In the first 5 months of 2024, exports are estimated to reach 156.5 billion USD, up 15% over the same period last year. Notably, exports to markets with free trade agreements (FTAs) have all recovered positively. New-generation FTAs ​​such as CPTPP, EVFTA and UKVFTA, along with a series of bilateral and multilateral FTAs ​​that Vietnam has signed and implemented before, have created a large market network, becoming a driving force for Vietnamese businesses and industries to boldly step out into the world.

"After the pandemic and recent geopolitical and economic instability, many corporations and retail and wholesale distribution channels are promoting diversification strategies, ensuring sustainable supply sources and have chosen Vietnam as a strategic location in their global supply chains," Ms. Thang emphasized.

Vietnam International Sourcing Expo 2024 is an opportunity for Vietnamese export enterprises to meet and connect with international distribution channels and purchasing groups. Photo: Minh Anh

Therefore, the Deputy Minister believes that the Export Forum, along with forums, seminars, trade connection activities and the Vietnam International Sourcing Expo 2024, is a series of events that effectively support businesses in their efforts to participate more deeply in the global production and supply chain, adapting to the trend of international economic integration.

The series of events Connecting the international supply chain (Vietnam International Sourcing Expo 2024) brings together 600 Vietnamese enterprises in the fields of agricultural products, food, textiles, footwear, household appliances and furniture... connecting trade with 300 distribution channels and international purchasing delegations from 60 countries and territories.

Featured with the participation of large corporations, typically Aeon, Uniqlo (Japan); Walmart, Amazon (USA); Falabella (Chile); Carrefour, Decathlon (France); Central Group (Thailand); Coppel (Mexico); LuLu (UAE); IKEA, H&M (Sweden)... as well as professional buyers for global supply chains.

Thuy Linh