Amid evolving global trade dynamics and tariff challenges, Vietnam's textile and footwear industries are actively diversifying their export markets, targeting countries with which Vietnam has free trade agreements (FTAs).
Truong Van Cam, Vice Chairman, Vietnam Textile and Apparel Association (VITAS), states, many companies are currently focused on fulfilling existing export orders. However, the industry urgently needs detailed market information to boost exports to promising destinations such as Russia, Brazil, Chile, and the Middle East.
Phan Thi Thanh Xuan, Vice Chairwoman and General Secretary, Vietnam Leather, Footwear and Handbag Association (Lefaso), notes, changes in trade policy from the United States and the European Union are significantly impacting Vietnamese exporters. To lessen these effects, businesses are expanding into new markets in South America and the Middle East, where consumer demand is both large and diverse.
This year, the footwear industry continues to target exports to Africa, Asia, Japan, Europe, and the US, while also beginning to engage with major e-commerce platforms like Alibaba and Amazon to open new sales channels.
To support these initiatives, the Vietnam Trade Promotion Agency, under the Ministry of Industry and Trade, is helping firms participate in trade promotion activities to broaden their reach, especially in emerging, high-potential markets such as Latin America, Halal markets, India, Russia, and the Middle East.
The agency will continue supporting firms at major trade fairs such as Anuga in Germany, SIAL in France, Canton Fair in China, World Food Moscow, and Trade Expo Indonesia, providing both logistical and financial backing.
Do Ngoc Hung, Vietnam's Trade Counselor in the U.S., emphasizes, firms need to improve their improve competitiveness, diversify supply chains, and reduce reliance on single-source inputs. Encouraging full utilization of new-generation FTAs, he urges faster domestic consumption and new FTA negotiations, highlighting Canada as a promising market.
Meanwhile, Cam, Vice Chairman, VITAS opines, trade offices should regularly update businesses on market trends, US consumer shifts, and trade talks to help exporters adjust their strategies.
