Fraud in international trade is becoming increasingly sophisticated.

In the coming period, the Ministry of Industry and Trade will continue to work alongside localities in general and Da Nang City in particular to promote export activities, trade promotion, and business networking to help overcome difficulties.

With the aim of diversifying consumption methods, the Ministry of Industry and Trade directs its units to cooperate closely with relevant agencies, organizations, and businesses, expanding both traditional and modern distribution channels, and focusing on exploiting online channels and e-commerce for Vietnamese goods in domestic and international markets.

In addition, the Ministry of Industry and Trade is actively promoting and diversifying export markets for Vietnamese products with the strong involvement of the Vietnamese trade representative office system in all regions of the world.

At the conference, many delegates noted that while trade fraud is not a new issue, the need for caution in trade has recently become a hot topic due to warnings from export markets.

Mr. Nguyen Viet San, Deputy Director of the European-American Market Department of the Ministry of Industry and Trade, stated that recently, some countries such as the United States, Northern Europe, Italy, France, the Netherlands, and Russia have seen instances of fraudsters impersonating reputable import companies to deceive foreign businesses. These fraudsters (often from the Middle East or Africa) exploit the perception that European countries are developed nations with strict legal systems and reputable companies. They create fake websites impersonating real companies with fictitious office addresses in developed countries and employ sophisticated fraudulent methods. Therefore, Vietnamese export businesses need to be vigilant, cautious, and thoroughly research their partners before signing and executing sales contracts.

Similarly, according to Mr. Duong Hoang Minh, Commercial Counselor of the Vietnamese Trade Office in the Russian Federation, it is necessary to thoroughly research customers before conducting transactions and signing contracts. In recent years, some Vietnamese businesses have been deceived by individuals on the internet offering cheap goods, and without thorough research, they signed import contracts with lax conditions, including "advance deposits". After the importing company transferred the deposit, the representative of the exporting company "disappeared" or requested more money and then "disappeared".

“Contracts need to be carefully discussed and legally binding between the parties to avoid fraud or delayed payments. Particular attention should be paid to payment terms and delivery conditions to prevent risks during contract execution. Economic contracts must be strictly adhered to by all parties to avoid breaches that could cause losses to businesses and damage the national brand reputation,” Mr. Minh observed.

According to Ms. Quyen Thi Thuy Ha, Head of the Vietnam Trade Office in Osaka, Japan, finding reliable partners is crucial, so businesses need to research and verify partners and request specific information about them from intermediary companies; they should also explore insurance options to minimize losses.

XUAN QUYNH