Can Tho posts record $616m trade surplus

Tuesday, Oct 07, 2014 10:10

Rice harvesting in Co Do farm in the southern province of Can Tho. The province has achieved a record trade surplus of US$616 million in the past nine months and rice remains its key reports. — Photo
CAN THO  (Biz Hub) — This Cuu Long (Mekong) Delta province has achieved a record trade surplus of US$616 million in the past nine months, according to the city planning and investment department.

During the period, Can Tho's exports hit $914 million and its imports hit $298 million, the department said, adding that rice and seafood remained the province's key exports, bringing a combined turnover of $723 million or 79 per cent of total export value.

Other exports include garments and textiles, pharmaceuticals, arts and handicrafts and footwear, as well as iron and steel, fruits and canned mushrooms. These have raked in $181 million in profits, a 29-per cent year-on-year increase.

Duong Nghia Hiep, deputy director of the city trade and industry department, attributed the performance to the city's efforts to curb imports and produce quality exports to achieve higher turnover.

Hiep also said the efforts of domestic companies, especially those into rice and seafood exports, to improve the quality of their products, seek new markets in Asia, Africa and the Middle East and proactively deal with foreign customers and consumers to better serve their needs, also contributed to the result.

Earlier, Can Tho set a target of $1.65 billion in export profits by year-end, including $516.5 million from rice and $488 million from seafood. The goal is $150 million higher than that of 2013, according to the city trade and industry department.

Can Tho has trade relationships with more than 80 countries and territories. Besides the traditional markets of Japan, the United States and the European Union, the city has also expanded to markets in the Middle East, North Africa and Eastern Europe.

Exports to France

The city also aims to create favourable conditions for small enterprises to promote their goods in the French market, said Truong Quang Hoai Nam, vice chairman of the city People's Committee.

The committee organised a working session with representatives from the Business Association of Vietnamese High-Quality Goods last Thursday to find ways to help small enterprises producing consumer goods, handicrafts, food and tourism services to intensify trade ties with French partners.

Vu Kim Hanh, the association president, said expanding operations to foreign countries, including France, was a big step for small enterprises that are extremely vulnerable when entering new markets. — VNS

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