Trade minister calls for urgent measures to cushion coronavirus impacts

Friday, 2020-02-28 10:15:52
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Garment is one of the sectors facing a shortage of materials due to the coronavirus outbreak.
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NDO - Minister of Industry and Trade Tran Tuan Anh has issued an urgent directive on measures to bolster exports and imports amid the major economic impacts of Covid-19 caused by the new coronavirus.

Plenty of Vietnam’s industries, such as automobile, garment, footwear and electronics, are facing shortages of input materials due to the Covid-19 outbreak in China and other countries.

In his directive, Minister Anh ordered the ministry’s departments to work with industry associations to learn about local firms’ material supply capacity and propose measures to look for alternative sources.

The trade minister also asked the concerned agencies to facilitate enterprises to take advantage of the EU-Vietnam Free Trade Agreement while calling for an assessment of the export growth potential of Vietnamese goods to offset falling exports resulting from the coronavirus outbreak.

The Vietnam Trade Promotion Agency was requested to step up their efforts to look for new markets for Vietnam’s agricultural produce and seafood, whose exports have been hit by the epidemic.

In the meantime, Vietnamese trade missions abroad are required to support local enterprises to connect with foreign partners who can supply medical equipment and materials.