Exports regain growth pace
To promote import-export growth, the Ministry of Industry and Trade is accelerating negotiations towards the signing of new trade agreements and commitments to diversify markets, products and supply chains.
The export turnover in October is expected to reach US$32.3 billion, up 5.3 per cent month-on-month, showing a positive signal given the 6.3 per cent decrease recorded in the previous month.
The agricultural sector continued to have impressive contributions to the export picture. In the month, agro-fisheries products earned about $3 billion, up 18.3 per cent year-on-year.
This is also the only commodity group to record growth in the first ten months of 2023, with export turnover estimated at $26.7 billion, a year-on-year increase of 3.8 per cent.
Rice is one of the products with a high export turnover in the period. Đỗ Hà Nam, deputy chairman of the Việt Nam Food Association (VFA), said that paddy prices in Việt Nam are at record highs, pushing domestic rice prices higher than those for export. This is also the reason why Việt Nam's rice export prices continue to go against the world tide.
According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), in September, tra fish exports reported positive growth for the first time since the beginning of this year. Although the increase is only 1 per cent over the same period last year, this is still a very good sign for the fisheries sector. Currently, China is Việt Nam’s biggest tra fish importer, followed by the US.
To promote import-export growth, the Ministry of Industry and Trade is accelerating negotiations towards the signing of new trade agreements and commitments, including completing and realising a free trade agreement (FTA) with Israel, and signing other FTAs and trade deals with potential partners such as the United Arab Emirates (UAE) and the Southern Common Market (MERCOSUR) to diversify markets, products and supply chains.
It will support businesses to take advantage of commitments in signed FTAs, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Việt Nam Free Trade Agreement (EVFTA) and the UK-Việt Nam Free Trade Agreement (UKVFTA), to promote exports through dissemination on rules of origin, issuance of certificate of origin, and opportunities and ways to make the most of advantages brought about by these deals.
The ministry will also co-ordinate with the Ministry of Agriculture and Rural Development to negotiate with China to further open the market for other Vietnamese fruit and vegetable products such as green grapefruit, fresh coconut, avocado, pineapple, star apple, lemon and melon, while improving the efficiency of and regulating the speed of customs clearance at border gates between Việt Nam and China. — VNS
