International free trade agreements have opened up unprecedented opportunities for Vietnamese steelmakers with the industry forecast to see robust growth.

It has become more difficult to export steel products to large markets amid the strong rise of protectionism. Steel manufacturers have been advised to protect and exploit the domestic market, which is full of potential.

Vietnamese exporters have been warned that it will be more difficult to export products to the US as the US administration has increased local production protection and tightened control over imports.

While global trade policies take place among the world’s powerful economies, small economies like Vietnam have to sustain enormous impact from the shifts in policies.

 In the face of a "worrying" rise in protectionism, trade ministers from the world's major economies have agreed to cut trade costs, increase policy coordination and enhance financing,