The 26th Vietnam Expo draws a wide range of participants. — VNS Photo Doan Tung

HÀ NỘI Viet Nam News -— Vietnam Expo 2016, which aims to increase exports and enhance regional and international economic connectivity, was officially kicked off yesterday in the capital city.

This year is considered a pivotal year for the economy because Việt Nam has taken action to accelerate its global and regional integration by joining the ASEAN Economic Community (AEC). In addition, many trade agreements have been signed such as FTA-EU, FTA-Korea and the TPP.

The expo is hosted by the Ministry of Industry and Trade’s Trade Promotion Agency (VIETTRADE) and Vinexad Company over the last two decades.

At the event, domestic enterprises have the opportunity to promote their products and meet foreign buyers, all while expanding and reinforcing the domestic market. At the same time, participant countries will have the opportunity to access a huge number of enterprises in Việt Nam in order to explore the market, discuss, co-operate for investment and transfer technology with the intention of promoting the growth of exports and attracting foreign investment into Việt Nam.

The event attracted the participation of more than 500 enterprises from over 20 countries and territories, showcasing their products at 520 stands, including local big names such as the Hà Nội Trade Corporation (Hapro), the Việt Nam Electrical Equipment Joint Stock Corporation (GELEX) and the Tân Á Đại Thành Group.

Speaking at the opening ceremony, Deputy Minister of Industry and Trade Đỗ Thắng Hải said the Vietnam Expo is recognised as the most effective trade event, bringing about a lot of economic values for organisations, enterprises and individuals in Việt Nam and overseas.

Belarus was the honoured guest at this year’s fair, which is seen as a significant initiative in the context that Việt Nam signed a Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU), of which Belarus is a member, he said.

Hải said the Ministry of Industry and Trade highly appreciated the involvement and positive contributions of Belarus’s organisations and enterprises.

Director of the VIETTRADE Bùi Huy Sơn said the event would create opportunities for businesses to partner with both domestic and international enterprises, improve export growth and attract foreign investment.

Nguyễn Duy Chính, General Director of Tân Á Đại Thành Group, said this was an opportunity for domestic enterprises to network with foreign ones and seek business partners through the signing of contracts at the fair. In addition, thanks to this fair, enterprises could promote their image to consumers.

Hailing the growing importance of the expo, Director of the Hà Nôi office of the Trade Investment Promotion Agency of the Republic of Korea (Kotra Hanoi) Lee Kyu Seon said the fairs have brought co-operation opportunities for both Vietnamese and South Korean businesses, adding that 71 Korean firms are attending this year’s event with 76 stands.

Olga Likhanova of Belarusian State Concern of Food Industry (Belgospishcheprom) said her company brought specific kinds of food and other products from Belarus. She said the company has increased its export volume to Việt Nam and hopes to further expand other industries with Việt Nam.

The expo will run until April 16. — VNS