Illustrative image (Source: VNA) Hanoi (VNA) – Vietnam’s foreign tradeturnover is likely to surpass 500 billion USD in 2019, Deputy Minister ofIndustry and Trade Do Thang Hai said at a press conference in Hanoi on December12.
The total import-export turnover inJanuary-November was estimated at 472 billion USD, he noted.
In the 11-month period, Vietnam exported 241.7billion USD worth of goods, a year-on-year rise of 7.9 percent. The country spent 230.7 billion USD on imports, up 6.6percent from the same period last year.
Hai said these outcomes were achieved in thecontext of sluggish global economy due to increasing risks, challenges, andtrade protectionism.
Despites difficulties in 2019, the VietnameseGovernment and ministries have spared no effort to simplify administrative andinvestment procedures, said Nguyen Cam Trang, deputy head of the Import-ExportDepartment under the Ministry of Industry and Trade (MoIT).
To date, Vietnam has joined negotiation andsigning of 16 free trade agreements (FTAs), with 12 already signed and cominginto force, she said.
The Government and the MoIT have paid specialattention to the implementation of the Comprehensive and Progressive Agreementfor Trans-Pacific Partnership (CPTPP), and the dissemination of information on otherFTAs, including the EU-Vietnam Free Trade Agreement (EVFTA), she added.
According to Deputy Minister Hai, the Governmenthas closely directed the amendment of regulations relating to trade, customs, thenational one-stop shop mechanism, specialized inspection and tradefacilitiation.
Besides, logistics infrastructure has beensignificantly improved, he said, adding that Vietnam was ranked 39th among the160 surveyed countries in the Logistics Performance Index (LPI) in 2018, up 25places compared to two years ago, rising to the third position in theAssociation of Southeast Asian Nations (ASEAN).
He said the ministry will actively employmeasures to realise the National Assembly’s set target of 7-8 percent growth inexport turnover in 2019./.
VNA
