Dung was speaking at the National Trade Counsellor Conference 2008 organised by the Ministry of Trade and Industry (MoIT) in Hanoi.

At the meeting, the PM praised the trade industry, particularly trade counsellors, for helping the country boost socio-economic development despite formidable adversaries such as natural disasters, disease epidemics and fluctuation in international prices.

Turning to the down side, Dung pointed out the industry’s high trade deficit and slower-than-potential growth rate of exports in 2007, which he said could also partly be attributed to the MoTI and trade counsellors.

The PM urged the trade industry to boost market expansion in 2008, take full advantage of opportunities and be prepared for trade barriers. He also asked trade counsellors to do all they could to ensure the country met its 2008 export target.

The main focus of the conference is trade promotion tasks, co-operation in agriculture, trade deficit and international integration. It wraps up on March 5th.

Ministry plans

Trade promotion isn’t the only target for trade counsellors this year, Minister of Trade and Industry Vu Huy Hoang told reporters on the sidelines of the conference.

The counsellors will also look for investment markets for both domestic trade and industrial enterprises and encourage foreign investment projects in Vietnam, he said.

The minister lauded the efforts of trade counsellors in helping boost Vietnam’s trade in 2007, which recorded an annual growth rate of 22%, reaching more than $48bil.

"Trade counsellors also play an important role in negotiating bilateral and multilateral economic corporation agreements. They are also very active in studying local mechanisms and policies related to trade and investment. Based on this information, trade counsellors consult and assist responsible agencies and domestic enterprises in actively approaching the market," he said.

"They should assist domestic enterprises in operating pursuant to WTO’s regulations."

But the counsellors’ work wasn’t flawless, Hoang added, as they often had limited and loose co-operation with domestic trade promotion agencies, especially in localities.

"In 2008, the trade and industry ministry will make every effort to create stronger ties," he said.

On the down side, the industry tended to overemphasise export promotion and underemphasise domestic trade, the minister said. He insisted this was an issue the MoTI would deal with in the near future.

Also at the conference, Deputy Trade and Industry Minister Nguyen Thanh Bien said this year trade counsellors would also be involved in the assessment and research of national trade promotion programmes.

Currently, Vietnam has trade relations with about 165 countries and territories worldwide and the country has set up 62 trade offices abroad in charge of markets in Europe, Asia – Pacific, Africa – South West Asia and areas in the US.

Despite its record export growth rate, Vietnam’s imports climbed by 35.5%, standing at $60.8bil last year. As a result, the trade deficit saw an annual increase of a record 140%.

Source: Viet Nam News