Vietnam Opens Forum on Exports and Market Development in Hanoi
The Vietnamese Ministry of Industry and Trade held a forum on exports and market development in Hanoi on July 16 in a bid to boost exports and ensure sustainable development.
Representatives of 32 associations from different sectors took part in the gathering to discuss solutions to bring the national economy out of the economic crisis and to seek new markets for Vietnamese exports.
Addressing the forum, Deputy Minister of Industry and Trade, Nguyen Thanh Bien, recommended that the government should maintain the domestic market to make it the lever for the export development strategy.
Meanwhile, Dr. Trinh Minh Anh said that Vietnam should ensure sustainable production in order to serve both export and domestic demands, particularly the demands of 70 per cent of the population who have low incomes and reside in rural areas.
Vietnamese exporters have been not only maintaining the traditional markets of the EU and the U.S. but have also been making efforts to develop new markets in the Middle East, Africa, and South America, Anh said.
Vietnam was forecast to incur a trade deficit of US$2.108 billion in the first half of this year, far lower than the Ministry of Industry and Trade’s recent estimate of US$3.07 billion, said the General Statistics Office (GSO).
The Southeast Asian nation is projected to reap US$27.612 billion from exported goods in the six-month period, down 10.1 per cent on-year, and spend US$29.72 billion on imports, an on-year decrease of 34.1 per cent, said the GSO.
This year, the country expects to export US$64.57 billion worth of commodities, up 3 per cent on-year. (Vietnam & World Economy)
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