Vietnam’s exports to the Asia-Pacific region are forecast to see strong growth this year following a solid export performance last year despite economic difficulties.
 |
|
Refrigerators manufactured by Deawoo-Hanel Company, a joint venture between Viet Nam and South Korea (Source: VNA)
|
Last year’s export to the Asia-Pacific region saw an increase of 21.3 percent and an estimated turnover of 57.3 billion USD, accounting for 50 percent of the country’s total exports, according to the Ministry of Industry and Trade (MoIT).
The number of markets in the region where Vietnam enjoyed a trade surplus increased from five including Hong Kong, Cambodia, Japan, the Philippines, Australia, Malaysia and Indonesia .
According to Deputy Director of MoIT’s Asia-Pacific Department Dao Ngoc Chuong, a large volume of new and high-tech products penetrated the region’s markets last year, especially electronic components, with growth of up to 60 percent.
“The Asia-Pacific’s markets remain as a potential export market for Vietnam thanks to a series of bilateral and multilateral free trade agreements, some signed already and others under negotiation,” he said, adding that Vietnam’s products also have a competitive advantage in these markets.
He also urged Vietnamese enterprises to diversify products and increase their quality to meet the demands of importing countries as a measure to further boost exports to the region’s markets while enhancing trademark protection and promotion activities.