Vietnam’s exports to most member economies of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have increased remarkably, but recognition of Vietnamese brands in those markets is still limited, according to the Ministry of Industry and Trade (MoIT).

Trade turnover between Vietnam and CPTPP countries reached $104.5 billion in 2022, up 14.3 per cent year-on-year.

Many key products have yet to create their own brands to be competitive and export value has failed to match potential, the MoIT said.

Trade analysts attribute this to the fact that most Vietnamese enterprises are only concerned with export volumes and value. Their production and processing are often focused on exporting products or raw materials, which are then packaged and exported under the brand of another company.

The building of a brand requires effort from not only a single enterprise but also the entire value chain and ecosystem, analysts said at a recent workshop in Hanoi to boost recognition of Vietnamese brands in CPTPP markets.

Exporters and processors, meanwhile, need to manage production and ensure sustainability, origin traceability, brand investment, and supply sources, they said.