Minister of Industry and Trade Vu Huy Hoang 

Vietnamese producers should not be too worried about market share as the government has a roadmap for opening the country to more imports, he told the weekly television programme "People Ask, Ministers Answer", broadcast on February 1.

Hoang said that when Vietnam opens its market, it has to comply with certain rules that will see a boost in exports of certain products in tandem with more imports.

“When the government of Vietnam decides to start free trade agreement with any country, attention has already been paid to ensure the advantage (of exports) as well as a roadmap to protect local production,” Hoang said.

Vietnam's key exports include garments and textitle, leather shoes, fisheries and agro production, as well as some processed products.

Hanoi has negotiated seven free-trade agreements, including the Trans-Pacific Partnership (TPP) with the US and a free-trade agreement with the Custom Union of Russia, Belarus and Kazakhstan (VCUFTA).

Hoang said Vietnam works out its own roadmap for market opening and seeks an agreement with trade partners to allow local producers time to improve their competitiveness.

“Thanks to such roadmaps, it would be groundless to be worried too much about fierce competition or any threat to local production,” Hoang said.

Concerning the recent flow of foreign retailers into the Vietnamese market, the minister said this is a sensitive sector and Vietnam will only gradually open its markets.

He said foreign product imports were tightly controlled in terms of quantity and category, and, with "suitable policies and enough attention to the protection of local producers and consumers, we should be not scared about opening market to the ASEAN communities.”