Though close to Vietnam, ASEAN nations are not big markets for primary Vietnamese exports, such as agricultural products, seafood, and garments. However, according to experts of the Trade Ministry, with WTO membership Vietnam can take advantage of high quality and cheap imported materials for production. This will increase Vietnamese competitiveness with regional countries in such industries as electronics and parts, computers, electrical cable and wire, garments and processed seafood.
For Vietnam, Singapore ranks first among ASEAN markets, as 96 per cent of imports and exports are tax free. It serves as a transit market with favourable shipping connections. In 2007, Vietnam will increase exports to Singapore in aquatic products, agricultural products, suckling pigs, fruits and vegetables, garments, footwear, wooden furniture, electrical cable and wire, electronic parts and computers.
Malaysia ranks second in export turnover with a growth rate of 112.4 per cent in crude materials, 78 per cent in food and foodstuff, and 51.6 per cent in industrial products. In 2007, export value to Malaysia will reach US$1.3 billion, and with average growth rate of 18 per cent a year, it will hit US$2.13 billion in 2010.
According to experts, in order to increase exports to other ASEAN countries, Vietnamese businesses must seek good partners to ensure stable imports and exports.
Smaller than Indonesia and importing fewer diversified items than Singapore, the Philippines is a big importer of Vietnamese rice. However, the Philippines sometimes applies protective measures against imported tiles and chemicals from Vietnam.
Cambodia, Laos and Myanmar are also promising markets. Border markets can be developed with Cambodia and Laos, and through them to third countries.
According to officials of Trade Ministry’s Asia-Pacific Department, since WTO accession Vietnamese exports to ASEAN have remained stable, but in the long term the industrial ratio will increase sharply when Vietnam makes use of the opportunities available through WTO membership. With specific and suitable policies and planning, Vietnam can continue export growth in those markets.
P.V
Vietnamese
