Deputy Minister of Industry and Trade Do Thang Hai at the regular meeting on July 14. He said that Vietnam is likely to reach a total export turnover of 200 billion USD this year. (Photo: VNA) Hanoi (VNA) – Vietnam is likely to reach a total export turnover of200 billion USD for the whole year, surging over 13 percent from last year andexceeding the set target, Deputy Minister of Industry and Trade Do Thang Haiaffirmed at the regular meeting held in Hanoi on July 14.
Hai said that exports of garments, footwear and wooden products will enjoysubstantial increase in the second half of the year.
In a stark contrast, imports are forecast to taper off as most of the equipmentwas purchased from the beginning of the year. The import value is estimated at205 billion USD.
The country’s trade deficit is estimated at 5 billion USD, or 2.5 percent ofthe export turnover and lower than the National Assembly’s goal.
To realise the objective, the ministry is focusing on addressing difficultiesfor domestic production projects for exports and promoting market informationto tackle market barriers. Popularisation of free trade agreements will be paiddue attention.
Hai underlined that a line-up of measures will be implemented to supportdomestic enterprises in meeting quality standards of the importers andincreasing values of export products, especially agro-forestry-fishery goods.
The ministry will create favourable conditions for farm produce to enter newmarkets.
Management of import-export via trade preventive measures in line withVietnamese laws and international commitments will be promoted in the lastmonths of the year.-VNA
VNA
