Vietnam’s exports to member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are expected to increase strongly through 2030, reaching 25 percent of the nation’s total exports, according to the Ministry of Industry and Trade (MOIT).
Prime Minister Nguyen Xuan Phuc has requested all-level authorities and sectors seriously implement his freshly-issued Directive 09 on solutions to remove obstacles to production and business activities so as to achieve this year’s growth target.
Improved exports in March helped Vietnam gain a trade surplus of 536 million USD in the first quarter after running deficits in the first two months, the latest update from the General Statistics Office (GSO) revealed.
Vietnamese companies should further invest in and trade with Myanmar, Thailand, Laos, and Cambodia, which are members of the Association of Southeast Asian Nations, heard a forum in Ho Chi Minh City on March 28.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to help Vietnam continue speeding up its reforms in order to tap opportunities and deal with challenges from the deal.
The domestic sector exported goods worth 10.72 billion USD in the first two months of 2019, up 9.9 percent on year compared to a 4.3 percent growth posted by the foreign-invested sector.
The agricultural sector posted a trade surplus of 1 billion USD in the January-February period despite a year-on-year decrease of 1.6 percent in export value.
Prime Minister Nguyen Xuan Phuc has asked for stronger efforts from sectors to promote macroeconomic stability and control inflation towards fostering sustainable and comprehensive economic growth.
Vietnam saw a trade deficit of nearly 900 million USD in February 2019, according to the General Department of Customs.
The Ministry of Commerce of Thailand has met with business operators recently to discuss approaches to boosting Thai exports, hoping to achieve an 8 percent annual growth target.
Vietnam faces a possible return to a trade deficit this year after three years of enjoying surpluses, experts said pointing to the sharp rise in imports and increasing difficulties facing exports.
Indonesia suffered a trade deficit of over 2.4 billion USD with China in January, up 32 percent from the same period last year, according to the Central Bureau of Statistics (BPS).
Export activities recorded encouraging figures in January, and more growth is on the way, according to the Ministry of Industry and Trade (MoIT).
Indonesia probably enjoyed an economic growth rate of 5.15 percent last year, the fastest pace since 2013 and higher than the 5.07-percent rate in 2017, a recent poll forecasts.
The trade deficit will be a big challenge to the economy this year due to tax incentives that lower the price of imported goods on the Vietnamese market.
The Government convened its monthly meeting on January 31 to review the socio-economic situation in January and preparations for the upcoming Lunar New Year festival (Tet).
Keeping up the momentum from the previous year, the Vietnamese economy got off to a good start in 2019 with many robust macroeconomic indices in the first month.
Vietnam had a trade deficit of about 1 billion USD in the first 15 days of this year, according to the General Department of Customs.
