Vietnam PM Urges to Limit Non-essential Goods Imports to Curb Trade Deficit
Vietnamese Prime Minister Nguyen Tan Dung has urged the Ministry of Industry and Trade to join hands with ministries and agencies to apply technical barriers to limit imports of non-essential goods such as cars and mobile phones to curb the country’s trade deficit this year.
The abovementioned agencies were urged to take bold measures to boost exports to narrow Vietnam’s trade gap, the government of Vietnam said on its website Thursday.
In early November, the MoIT forecast Vietnam’s trade deficit will stand between US$11.5 billion and US$12.5 billion this year, down from US$17.516 billion in 2008.
Vietnam exported US$51.306 billion worth of goods and US$61.723 billion in the first eleven months of this year, down 11.6% and 17.8% from a year earlier, respectively, resulting in the country’s trade deficit of US$10.417 billion. (www.chinhphu.vn Dec 3, Lao Dong Dec 4 p3)
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