The Vietnamese Ministry of Industry and Trade (MoIT) will continue its efforts and implement key initiatives to boost exports in an aim to maintain double-digit turnover growth for the year, the MoIT deputy minister Nguyen Nam Hai has said.
According to estimates from the MoIT and the Ministry of Planning and Investment, the total export turnover in the first half of this year amounted to $32.1 billion (€24.9 billion), a year-on-year increase of 15.7%, of which agricultural and aquaculture export turnovers reached $6.6 billion (€5.1 billion), up 8.1% year-on-year.
The global economic recovery has also helped boost the exportation of Vietnamese products, as the worldwide demand for goods consumption has risen, said Hai.
He added that if the export market continued to see favourable conditions and goods prices do not drop, the year’s export turnover growth will possibly remain in double-digits.
To boost exports, the ministry has implemented the following measures:
- Firstly, the ministry has implemented synchronous measures to improve quality and increase value of export products, especially in the fields of agriculture and aquaculture;
- Second, the ministry has boosted the promotion of exports, seeking new markets and expanding existing ones. The ministry has sought to develop markets that border Vietnam by reviewing and adjusting inappropriate regulations that have limited exports to these areas;
- Third, the ministry has implemented already signed Free Trade Agreements (FTAs) to take full advantage of these arrangements, and worked with localities and associations to disseminate information on FTAs; and
- Finally, the ministry has collaborated with relevant agencies to organise conferences on exports as part of a bid to solve difficulties in production, business and export and to discuss measures to increase exports for each commodity and sector.
Administrative reforms and policies on encouraging exports and restraining trade deficits have continued.
[Source: Sai Gon Giai Phong]
