Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam are members of the ASEAN market. This is a close market area that is very important to Vietnam.

ASEAN has remained an important trade partner of Vietnam for the past 26 years, despite Vietnam's membership in the organization. Trade relations between Vietnam and the ASEAN market region have been constantly developing over the years ​and made remarkable achievements. Currently, ASEAN is the fourth largest export market for Vietnamese firms, after the US, China and the European Union. In 2020, under the negative effects of the COVID-19 pandemic, Vietnam's goods import and export with ASEAN reached 53.6 billion USD, down 6.8% compared to 2019. However, trade will have recovered and gained back momentum by 2021. In the first eight months of 2021, trade turnover between Vietnam and ASEAN reached 46 billion USD, up 35.2% from the same period in 2020 (higher than the average growth rate of Vietnam's import and export to the world - 27.5%) and up 19.8% from the same period in 2019. (when there was no COVID-19 pandemic).

The above accomplishment is the result of efforts to comprehend and capitalize on the benefits and opportunities provided by the ASEAN market area. Geographically, the ASEAN market is a market area with close geographical distance, which helps businesses save on freight and warehousing costs. Enterprises also have a variety of options for goods transportation, including road transport, sea transport, and air transport. In terms of culture and tastes, the ASEAN market is a culturally diverse and unified region. Although each country has its own unique and diverse customs and practices, they all have an agricultural cultural background, so the lifestyle has close and similar features. Concerning consumer tastes, Vietnamese goods meet quality requirements and cost when exported to ASEAN. Almost all of Vietnam's exports can be considered ASEAN destinations. The successful export to the ASEAN market will be the first step for Vietnamese products to continue penetrating other markets.

The ASEAN market is another potential market for Vietnamese companies. With a population of over 655 million people, more than half of whom are of working age, and an increasing proportion of the population belonging to the middle class, the ASEAN market area has extensive consumption potential and good consumption capacity. Currently, most goods exported to this market are entitled to 0% point tariffs under the ASEAN Trade in Goods Agreement (ATIGA) or other special benefits under bilateral trade agreements/agreements with each country, such as the Vietnam-Laos Trade Agreement, the Agreement to Promote Bilateral Trade between Vietnam and Cambodia… Furthermore, ASEAN countries will accelerate the implementation of measures aimed at economic recovery following COVID-19, as committed to market opening, supply chain assurance, and trade facilitation. These are very favorable conditions for Vietnamese businesses to capitalize on in order to further exploit the potential of this market area.

In the context of the complicated development of the COVID-19 pandemic in Asia, including ASEAN countries, businesses must pay attention to the following issues in order to maintain existing import and export business with the ASEAN market area and take advantage of opportunities to diversify and expand the market in this region:

To prevent and control COVID-19, businesses must first regularly and continuously update information about the local market's policies and regulations, particularly the requirements for import and export goods. Depending on how the disease progresses, these rules and regulations may change quickly and unexpectedly. To assist businesses, the Ministry of Industry and Trade has in the past implemented continuous information dissemination activities, guiding enterprises to access the market and updating countries' new requirements. As a result, businesses can actively access this information through the Ministry of Industry and Trade's official information channels, such as the Ministry of Industry and Trade's website (www.moit.gov.vn), the foreign market portal (www.vietnamexport.com), and the Industry and Trade Newspaper (www.congthuong.vn).

Second, in order to limit risks during contract performance and payment, businesses must actively verify partner information in the host country in a variety of ways. The disruption of supply chains in the context of the COVID-19 pandemic impacted the production activities of enterprises in other countries. Furthermore, the travel restriction makes it difficult to authenticate partner information. As a result, when exchanging or trading business, companies must learn more about their partners, such as their legal status, source of goods, financial capacity, and so on, in order to avoid the risks of collaboration. Businesses can contact the Vietnam Trade Office in the host country for assistance in verifying partner information before signing a contract or conducting transactions.

Third, in the recent context, some ASEAN countries have increased the application of trade barriers or trade remedies to support the restoration of domestic production during and after the pandemic. Export support, businesses must closely coordinate with state management agencies if they have an affected or investigated item. Businesses must also actively capture complete and accurate information for proper production planning, plans to diversify markets, look for alternative markets, and not rely on a single market to avoid unwelcome risks. Information on trade barriers and trade remedy cases is regularly posted on the Ministry of Industry and Trade's media channels, as well as disseminated at market access guidance activities. The Ministry of Industry and Trade has been and will continue to work with businesses to resolve cases and protect their interests to the greatest extent possible.

Fourth, businesses must focus on diversifying their partners and import-export markets, particularly in the context of the COVID-19 pandemic, which has many negative consequences but also opens up new business opportunities. Enterprises can contact Vietnam Trade Offices abroad for assistance in connecting with importers, the distribution system in the host country, information, and actively participate in trade promotion activities and trade connections to help Vietnamese goods enter more easily.