Vietnam News Network

The Ministry of Industry and Trade officially inaugurated a new website that aims to support import and export enterprises by providing specific information about foreign markets.

This is the first website in Vietnamese providing specific global market information and was built with the co-operation of the European Commission.

Speaking at the inauguration ceremony in Ha Noi on Tuesday, Deputy Minister of Industry and Trade Nguyen Thanh Bien said, "Before this website was created, collecting information from different departments, markets and industries was difficult. This did not satisfy the demands of local enterprises and made the task of developing export markets that much more difficult."

"Thus, a website with information from international organisations as well as the 60 Vietnamese trade offices abroad will help improve market access for Vietnamese enterprises, as well as build trade promotion programmes and business strategies, especially as Viet Nam is actively integrating into the global economy," said Bien.

Exports play an important role in the domestic economy, making up nearly 70 per cent of the total GDP. Furthermore, export turnover in 2008 is expected to increase about 30 per cent against the previous year. Export enterprises, however, face challenges getting relevant market information from abroad. The new website aims to solve these difficulties.

Foreign enterprises already enjoy access to export information websites such as Buyusa (US market information), CBI (Dutch market information) and Jetro (Japanese market information). Now local enterprises can access www.thitruongnuocngoai.vn and www.TTNN.com.vn to research market supply and demand worldwide, cost-free.

The new information portal deals with news on import and export markets, customs policies, and provides a communications channel between exporters and importers.