Business

Export regains growth pace

The export turnover in October is expected to reach 32.3 billion USD, up 5.3 month-on-month, showing a positive signal given the 6.3% decrease recorded in the previous month.
Export regains growth pace ảnh 1Export turnover is estimated at 32.3 billion USD in October (Photo: VNA)
Hanoi (VNA) - The export turnover in October is expectedto reach 32.3 billion USD, up 5.3 month-on-month, showing a positive signalgiven the 6.3% decrease recorded in the previous month.

The agricultural sector continued to haveimpressive contributions to the export panorama. In the month, agro-fisheries products earned about 3 billion USD, up18.3% year-on-year.

This is also the only commodity group torecord growth in the first 10 months of 2023, with export turnover estimated at26.7 billion USD, a year-on-year increase of 3.8%.

Rice is one of the products with a highexport turnover in the period. Do Ha Nam, Vice President of the Vietnam FoodAssociation (VFA), said that paddy prices in Vietnam are at record highs,pushing domestic rice prices higher than those for export. This is alsothe reason why Vietnam's rice export prices continue to go against the worldtide.

According to the Vietnam Association of Seafood Exporters and Producers(VASEP), in September, tra fish exports reported positive growth for the firsttime since the beginning of this year. Although the increase is only 1% overthe same period last year, this is still a very good sign for the fisheriessector. Currently, China is Vietnam’s biggest trafish importer, followed by the US.

Export regains growth pace ảnh 2In September, tra fish exports report positive growth for the first time since the beginning of this year (Photo: VNA)
To promote import-export growth, theMinistry of Industry and Trade is accelerating negotiations towards the signing ofnew trade agreements and commitments, including completing and realising a freetrade agreement (FTA) with Israel, and signing other FTAs and trade deals with potential partners such as the United Arab Emirates (UAE) and theSouthern Common Market (MERCOSUR) to diversify markets, products, and supplychains.

It will support businesses to take advantageof commitments in signed FTAs, especially the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free TradeAgreement (EVFTA), and the UK-Vietnam Free Trade Agreement (UKVFTA) to promoteexports, through dissemination on rules of origin, issuance of certificate oforigin, and opportunities and ways to make the most of advantages brought aboutby these deals.

The ministry will also coordinate with theMinistry of Agriculture and Rural Development to negotiate with China to further open the market for other Vietnamese fruit and vegetable products such asgreen grapefruit, fresh coconut, avocado, pineapple, star apple, lemon andmelon, while improving efficiency of and regulating the speed of customsclearance at border gates between Vietnam and China./.
VNA
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