Illustrative image (Photo: baodautu.vn) The "Future ofTrade 2030: Trends and markets to watch" also forecasts that the globalexports will almost double from 17.4 trillion USD to 29.7 trillion USD over thenext decade.
Vietnam is considered an important market contributing to the growth of the globaltrade, it said.
It also found that 41 percent of global businesses currently operate or plan toinvest in Vietnam within the next five to 10 years. This shows that Vietnamwill be one of the important motivations of global trade growth in the next 10years.
The US and China willcontinue to be Vietnam's largest export markets, respectively accounting for 26percent and 19 percent of the Southeast Asian country’s total export turnoverby 2030.
According to thestudy, Vietnam is an emerging manufacturing powerhouse with expanding internationaltrading relationships.
According to MicheleWee, CEO of Standard Chartered Bank Vietnam,Vietnam’s increasing integration intothe world economy through various free trade agreements (FTAs) such as the EU –Vietnam FTA and the UK – Vietnam brings Vietnam many advantages and allows itto expand its exports, move up value chains across sectors as well as create skilled jobs.
The report, commissioned by Standard Chartered and preparedby PwC Singapore, is based on an analysis of historical trade data andprojections until 2030, as well as insights from a survey of more than 500 seniorleaders in global companies./.
VNA
