Dong Nai seeks to navigate key trade markets
A seminar promoting Vietnam’s exports to the US, Japan, China and the United Arab Emirates (UAE) was held in the southern province of Dong Nai on October 28.
A cacao processing plant (Source: VNA)Over the past five years, Dong Nai’s economy has grown by an annual average of 12 percent, with more than 1,200 foreign-invested projects from 42 countries and territories and over 19,500 domestic firms, according to Vice Chairman of the provincial People’s Committee Tran Van Vinh.
The US accounts for 31 percent of the province’s total exports, followed by Japan (10 percent) and China (8.5 percent), he added.
Dao Tran Nhan, Commercial Counsellor in the US, said Vietnam’s gross domestic product (GDP) and exports will increase by a respective 25 percent and 32 percent following the enforcement of the Trans-Pacific Partnership, which covers a 800-million population market and makes up 40 percent of the world’s GDP and 30 percent of the global trade.
He described the US as a major and penetrable market, adding that Vietnamese firms will still meet difficulties due to weak export capacity, transport and technical barriers and food safety.
Vietnamese Commercial Counsellors in Japan and China hailed the recent growing shipments of fruits and agricultural products, aside from apparel, fibre, machinery and fisheries.
Commercial Counsellor in the UAE Pham Trung Nghia said UAE is a significant market and a gateway to the Middle East and Africa.
However, he also expressed concern over inflated import prices due to the high local costs of transport and preservation.
Vietnamese Commercial Counsellors assured over 100 local export-import firms that they will be provided with all possible support to bring Vietnam’s products to foreign countries.-VNA
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