Trade with Denmark targeted

Friday, Aug 09, 2013 08:00

Sports balls were manufactured at Delta Sports Company for exports to many markets, including Denmark. Two-way trade between Viet Nam and Denmark is forecast to reach US$500 million. — VNA/VNS Photo Vu Sinh
HA NOI (Biz Hub)— Two-way trade between Viet Nam and Denmark is forecast to reach US$500 million with $305 million coming from Vietnamese exports, according to the Ministry of Industry and Trade's European Market Management Department.

However, bilateral trade had decreased by 10 per cent year-on-year to $222 million over the first half of this year, mainly due to a slumping import demand from Denmark.

During the period, Viet Nam exported only $134 million worth of products to Denmark, down 6 per cent year-on-year.

Export turnover of clothing and seafood, the country's key items, dropped by 26 per cent and 20 per cent respectively to reach $42 million and 11.4 million, while the export value of wood and wooden products reached $6.7 million, equivalent to the same period last year.

The debt crisis in the eurozone had yet to show signs of recovery and the Danish consumers tended to tighten their spending and reduce personal demand, the department said.

That had had a negative influence on Viet Nam's exports to the market. Vietnamese goods had also faced stiff competition from other countries.

In the reviewed period, Viet Nam's imports from the market also slumped by 16 per cent to $88.3 million.

The Danish Government aimed to double exports of essential goods to Viet Nam over the 2011-16 period. To achieve the goal, Denmark would strengthen co-operation and trade with Viet Nam in the fields of its strengths, such as energy, environment, healthcare, education, transportation and food.

According to statistics from the General Department of Customs, two-way trade turnover hit $468 million last year, up 11 per cent on the previous year.

Of this figure, Viet Nam's exports to Denmark hit more than $276 million, up 2 per cent on 2011, while imports reached roughly $192 million, up 28 per cent.

Local experts predicted that the Viet Nam-EU Free Trade Agreement would open up a new page for the bilateral trade ties between the two countries. — VNS

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