Mon. Jun 17th, 2024

Vietnam’s exports to the Asia-Pacific region are forecast to see
strong growth this year following a solid export performance last year
despite economic difficulties.

Last year’s export to the
Asia-Pacific region saw an increase of 21.3 percent and an estimated
turnover of 57.3 billion USD, accounting for 50 percent of the country’s
total exports, according to the Ministry of Industry and Trade (MoIT).

The number of markets in the region where Vietnam enjoyed a trade
surplus increased from five including Hong Kong, Cambodia, Japan,
the Philippines, Australia, Malaysia and Indonesia .

According to Deputy Director of MoIT’s Asia-Pacific Department Dao Ngoc
Chuong, a large volume of new and high-tech products penetrated the
region’s markets last year, especially electronic components, with
growth of up to 60 percent.

“The Asia-Pacific’s markets
remain as a potential export market for Vietnam thanks to a series of
bilateral and multilateral free trade agreements, some signed already
and others under negotiation,” he said, adding that Vietnam’s products
also have a competitive advantage in these markets.

He
also urged Vietnamese enterprises to diversify products and increase
their quality to meet the demands of importing countries as a measure to
further boost exports to the region’s markets while enhancing trademark
protection and promotion activities.-VNA

By vivian