New rice export and trading plan in the pipeline

VOV.VN - The Ministry of Industry and Trade is collaborating with relevant ministries, agencies and localities to complete a draft decree on rice export and trading in the third quarter of this year to meet local and global market demands.

Rice export is a ‘bright spot’ of the agricultural sector amid difficulties of the national economy. In the first six months of the year, Vietnam exported 4.27 million tonnes of rice worth US$2.3 billion, up 22.2% in volume and up 34.7% in value year on year.

However, rice export activities revealed shortcomings in terms of market development, market strategy, and fierce competition from other rice exporting countries.

To complete drafting the decree, the Prime Minister has requested that relevant ministries continue to create favourable conditions for farmers and businesses to promote research and development of high-yield and high-quality rice varieties that are suitable for market requirements, and to effectively use Vietnamese rice brands.

He has asked them to promote bilateral and multilateral negotiations towards signing agreements on conformity and mutual recognition of quarantine, product quality, and food safety standards with key markets in order to take full advantage of opportunities to make inroads into these markets.

The Ministry of Industry and Trade has been required to further carry out trade promotion activities, maintain traditional rice export markets such as the Philippines, China, Indonesia, Africa, fully exploit potential markets of free trade agreements, and seek to enter markets like the European Union, the Republic of Korea, the United States and North America that consume fragrance and high-quality rice.

The PM has also underlined the need to step up market research, assessment and forecast of import demand as well as the ability to access import markets, and promptly update information for the Vietnam Food Association and rice exporters to support rice export and trading activities.

It’s also imperative to examine the negotiation and signing of preferential trade agreements with a number of potential export markets, and to review the implementation of the signed agreements to request an increase in quotas for Vietnam.

Businesses should be well informed about provisions of new-generation free trade agreements and bilateral agreements to make the most of the tariff quota for Vietnamese rice.

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