Vietnam May Reap US$1.8Bln from Exports to Singapore in 2007
Vietnam expects to earn US$1.8 billion from goods exports to Singapore this year, up 19.2 per cent on-year, said the Asian-Pacific Department under the Ministry of Trade (MoT).
The figure accounts for 23.08 per cent of total expected revenue of exports to ASEAN.
At that pace, Vietnam’s export to the island country expects to reach $2.7 billion by 2010.
Singapore has long been the Communist-ruled nation’s biggest export market in ASEAN, as it has business-friendly legal framework and policies. Currently, 96 per cent of goods exported to and imported from the country are tax free.
Crude oil, rice, construction glass, machines and garments and textiles are Vietnam’s major exports to the foreign country, while Vietnam imports refined oil products, machines, equipment, spare parts and other accessories. (Vietnam Economic Times)
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