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Official Gazette

Sunday, September 22, 2019

Financial support for foreign trade promotion activities expected

Updated: 14:34’ - 09/07/2019
The Ministry of Industry and Trade is working on a circular guiding the implementation of the national program on promotion for foreign trade development, proposing that the State provide financial support to cover all expenses for organization of stands in international exhibitions and trade fairs.

As per the draft, the State would provide support to cover up to 100 percent of expenses for the public communication before, during and after a foreign trade exhibition; organization of stands; and payment of work-trip allowance for organizers’ personnel.

Units participating for the first time in trade fairs or exhibitions held by foreign organizations would enjoy support for covering up to 100 percent of their expenses. Those participating in the same fair held in the same country would be entitled to support equal to 70 percent, 50 percent or 10 percent of total expenses for the second, third or fourth time of participation, respectively.

The draft requires that a multi-industry exhibition must have at least 12 standard stands of 12 participants while a specialized exhibition must host at least seven standard stands of seven participants.

To be entitled to support from the national trade promotion program, a project must be appraised on the basis of prescribed criteria. Specifically, it must be in line with the socio-economic development strategy and foreign trade strategy for each period and designed to carry out  trade promotion for exportable products, develop the export market, and help businesses take part in trade promotion activities.- (VLLF)
 

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