Kien Giang's export turnover reaches over 500 million USD in seven months

Illustrative Image (Photo: VNA)

Kien Giang (VNA) - The output and export turnover of the Mekong Delta of Kien Giang was affected by a reduction in the global market purchasing power, especially in key markets such as the US, the EU, the Republic of Korea (RoK) and Japan.

Kien Giang’s Department of Industry and Trade said that in the first seven months of 2023, the province's export turnover reached more than 500 million USD, making up 58.14% of the plan and an increase of 3.75% compared to the same period last year.

Of the figures, rice exports raked in 174.62 million USD, up 48.16%; seafood 130.21 million USD, down 16.87%; leather shoes 113.68 million USD, up 9.76%; other goods 79.72 million USD, a fall of 19.67%.

Currently, the province has about 36 enterprises participating in export activities and exporting goods to more than 40 markets around the world, of which, the Asian market accounted for more than 87% of the total export turnover.

Director of the Kien Giang Department of Industry and Trade Truong Van Minh said that the province's implementation of policies to support businesses in production recovery has proved effective, especially support policies on taxes, fees, social insurance, among others. These policies help businesses maintain operations, develop production and promote import and export.

Relevant sectors have assisted enterprises to overcome hurdles in production and business activities while taking the initiative in seeking new markets, and promptly implementing orders.

The province has undated information about Free Trade Agreements (FTAs), especially the EU-Vietnam FTA (EVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP) and organised conferences to update information about international economic integration for key officials of the province. These include information on prices, as well as domestic and foreign markets for enterprises to take the initiative in production, business and export.

However, the province's seafood processing and exploitation activities for export in the reviewed period faced many difficulties due to a downward trend in the number of ships going out to sea to catch fish.

Some traditional markets posed technical barriers, especially requirements for the certification of raw fishery catches (SC), and the certification of origin of caught fishery products (CC).

Director of the Kien Giang Department of Industry and Trade Truong Van Minh emphasised that in order to achieve an export turnover of 860 million USD in 2023, the province will continue to support enterprises to recover and develop production and export activities, while seeking ways to remove difficulties in labour, raw materials, focusing on implementing foreign trade promotion, and supporting enterprises to find and expand new markets.

On the other hand, provincial departments will continue to popularise free trade agreements (FTAs), helping businesses make effective use of preferential tariff policies from new generation FTAs to boost exports, he added.

Sectors are requested to promptly update information about fluctuations, export market trends, assesses opportunities and challenges to help businesses plan proactively to adapt to global market developments./.