Viet Nam and Cambodia could bring their two-way trade value to US$7-8 billion by 2020 due to their already sound co-operation and efforts to remove difficulties for businesses.
Two way trade between Viet Nam and India experienced a significant yearly increase of 50 per cent to US$6.36 billion over past seven months of this year, statistics from the General Department of Customs revealed.
Viet Nam has for the first time ever become China’s biggest trade partner in the ASEAN bloc, with two-way trade hitting over US$10 billion for every month of 2018.
The outlook looks bright for two-way trade between Viet Nam and the Czech Republic, as the two countries’ import-export turnover in the first five months of this year reached nearly US$464.5 million, up 15.6 per cent from the same period last year.
The value of two-way trade between Viet Nam and Malaysia in the January-June period this year expanded 21.15 per cent on a yearly basis to more than US$5.84 billion, according to statistics of the Vietnamese trade office in Malaysia.
Vietnamese exports to China experienced a significant yearly increase of 61.5 per cent to over $35.46 billion. That helped to reduce Viet Nam’s trade deficit with China to $22.76 billion last year from $28 billion in 2016.
Viet Nam and Egypt’s goal of increasing two-way trade to US$1 billion in the future is fully feasible, said Viet Nam Chamber of Commerce and Industry (VCCI) Chairman Vu Tien Loc.
An Viet International Operation Investment JSC and Iran’s Rahavaran Tosee Mihan company signed a Memorandum of Understanding (MoU) last week to achieve a two-way trade volume of US$500 million by 2018.
Bilateral trade between Viet Nam and Malaysia should be strengthened further as the two countries have set a two-way trade target of US$15 billion by 2020.
Two-way trade between Viet Nam and Chile surpassed $791.9 million in the
first 11 months of this year with the balance of trade in favour of the
Southeast Asian nation.
Two-way trade between Viet Nam and Singapore experienced a year-on-year
increase of 23 per cent to over US$6.52 billion over the past five
months, according to the Singapore Department of Statistics.
Two-way trade between Viet Nam and the US increased significantly by 26
per cent to US$4.9 billion over past two months, making US become Viet
Nam''s second largest trade partner.