Vietnam has set a goal of achieving an average export growth rate of 6-7 percent in the 2021-30 period, following the Government's strategy on import and export released recently.
With huge potential for comprehensive cooperation, Vietnam and the US are boosting two-way trade in a more balanced manner to ensure sustainable development, experts have said.
Prime Minister Nguyen Xuan Phuc, accompanied by a high-level Vietnamese delegation, visited the Embassy of Vietnam in China on April 25 on the occasion of his attendance at the second Belt and Road Forum in Beijing.
Deputy Minister of Industry and Trade Tran Quoc Khanh and his Chinese counterpart Gao Yan co-chaired the 10th meeting of the Vietnam-China Committee for Economic and Trade Cooperation in Hanoi, focusing on measures to reduce Vietnam’s trade deficit with China.
Vietnam produced 34.3 billion USD worth of cellphones and components for export in 2016, 99.8 percent of which made by FDI firms. Low local content ratio in manufacturing may hold back the economy.
Vietnam exported about 79.3 billion USD worth of commodities in the first five months of 2017, an increase of 17.4 percent from the same period last year.
The participation in the Trans-Pacific Partnership (TPP) agreement will provide a chance for Vietnam to balance its trade relations and avoid over-dependence on certain markets, economists said.
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