Measures to Mitigate Risks for Vietnamese Enterprises Exporting Goods to ASEAN Markets

Ngo Xuan Binh, Nguyen Thi Ngoc, Le Thi Hang Nga, Nguyen Le Thy Thuong and Tran Ngoc Diem

Economic Studies journal, 2021, issue 8, 212-228

Abstract: With the advantage of being an economically dynamic and geographically close region, Vietnam – ASEAN trade relations have had high growth rates in recent decades. This has helped open new opportunities for Vietnamese exporters to get access to and expand its markets internally in a region of about 625 million population and larger external markets, as well as to get deeper engagement in the global value chain. However, the export of Vietnamese goods to these countries is always unpredictable and highly risky. Potential risks come from the policy of the states, from the parties and exporters involved, from the protection of domestic trade, from the customs and practices of the consumers. This has been especially true since the ASEAN Economic Community is officially established by the end of 2015. Risk identification is an important step to minimize and prevent risk and vulnerability in export activities for Vietnamese exporters while integrating into the region. By using a systematic, multi-dimensional approach, the paper uses a combination of quantitative and qualitative research methodologies to identify the risks for Vietnamese exports to the ASEAN market, which is based on data of export status and studies about the actual situation of exporters. At the same time, on the basis of the development orientation between Vietnam and AEC, the article is to provide solutions to reduce risks that are applicable for the state and industrial communities, thereby improving the efficiency of Vietnamese exports to the ASEAN markets.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2021:i:8:p:212-228

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