The Ministry of Trade and Industry's Import-Export Department said that the total goods export revenue of the whole country in the first two months of 2014 reached more than US$12.3bil, a 40.3% increase from the same period last year. Signings of trade agreements and negotiations will contribute to expand market and boost up export for Vietnamese commodities in this year, according to forecasters.
Sang Ban Mai JSC's generator products are prepared for export to Myanmar.
Many opportunities opened Binh Duong's last year export revenue was estimated at US$14,443.2mil, reaching a growth level of 15.7%. In the first two months of this year, export turnover got US$2,094mil, a 25.3% increase from the same period last year. Most of enterprises obtained export contracts till the end of the second and third quarters and even others got contracts lasting till the end of 2014. Vietnam Footwear and Leather Association said that the footwear and leather industry in this year has more advantages than 2013, owing to enjoying preferential treatment under the bloc’s Generalised System of Preferences (GSP) within 3 years since Jan. 1, 2014. Besides, a free trade agreement (FTA) inked by Vietnam and the European Union will cut the tariffs of 90% of Vietnamese goods down to 0%. Such a move will be the key to boosting Vietnamese exports to the EU market. Meanwhile, under negotiation of the Trans-Pacific Partnership, or TPP, aside from footwear products, industries such as garment, porcelain, furniture and so on will enjoy interests and market expansion to the US, EU, Japan, China, Korea, ASEAN, India and among others as well as exploit potential markets namely Russia, Africa, Middle East, Latin America, Canada, Mexico, Peru and so on. Overcoming barriers Grasping chances of opening market requires companies to approach international standards and legal issues. In order to maintain export growth pace for 2014, the Ministry of Trade and Industry will spur trade promotion, market expansion, negotiation of trade agreements to take advantage of opportunities. In addition, the Ministry will gradually bring Vietnamese goods to foreign nations through distribution system as well as accelerate negotiation with the international distribution chains to focus on building Vietnam trademark at potential markets. In Binh Duong, based on the Government's action plan on implementing the goods import-export strategy in the period of 2011-2020, the provincial People's Committee has set out goals of increasing an export growth level of 15%-16% per year, decreasing trade deficit. Additionally, the local administration has strengthened trade promotion, reinforced traditional markets, amplified new ones and boost up export. In order to intensify export, associations asked functional agencies to help businesses approach large and important markets such as the US, Japan. In terms of price, enterprises also petitioned to set out a common price. Reported by B.Anh - Translated by A.C
