As sea freight rates keep rising and congestion at some Asian ports and lack of empty containers have hit trade activity, Vietnam’s ministry of industry and trade (MoIT) recently asked domestic associations and businesses to coordinate implementing key solutions to promote imports and exports.
The Vietnam Logistics Business Association, the Vietnam Ship-owner’s Association, the Vietnam Shipper’s Council and the Vietnam Ship Agents, Brokers and Maritime Services Providers Association received the official order.
The ministry called for strengthening coordination among associations and businesses to improve capacity; jointly developing production and business and transportation plans and goods import and export plans as a basis for signing long-term contracts with shipping lines; minimising the impact of freight rates and surcharges, a domestic media outlet reported.
Importers and exporters may consider alternative routes to and from Europe; for example, a hybrid transport route, the ministry suggested.
Import-export enterprises have been asked to coordinate with customs authorities and port operators to speed up the process of handling backlogged goods at ports, contributing to promoting the flow of goods and improving the capacity of handling goods at ports.
Industry associations should also coordinate with the Vietnam Chamber of Commerce and Industry (VCCI) to strengthen communication and improve the capacity of small and medium enterprises in negotiating and signing foreign trade and insurance contracts to protect businesses against risks and losses, especially with sea cargo going through high-risk routes.
The ministry also asked associations and businesses to develop contingency response plans to minimise risks and losses.
Fibre2Fashion News Desk (DS)