VN aims to gain US$200 bln from export this year

Viet Nam's total export turnover reached more than US$115 billion in the first seven months of the year, a year-on-year increase of 18.7%, with 20 items joining the US$1 billion export club, including eight with value exceeding US$3 billion.

The information was released at the Export Forum 2017, which was organized on August 8 in Ho Chi Minh City.

Exports to nations signing the free trade agreements with Viet Nam have been increasing, said Deputy head of the Ministry of Industry and Trade's Import and Export Department Nguyen Phu Hoa, adding that Vietnamese businesses are taking advantages of these agreements.

The U.S. was the largest importer of Viet Nam with US$23.4 billion in seven months, up 9.9%. It was followed by the EU with US$21.5 billion, up 12.8%, China US$15.5 billion, up 42.6%, ASEAN US$12.3 billion, up 27.1%, Japan US$9.6 billion, up 20.6% and the Republic of Korea US$7.6 billion, up 26.4%.

The country expects to gain US$200 billion from exporting this year, up 13% and make an import value of US$205 billion, up more than 17%.

Chairman of the Board of Governors of the American Chamber of Commerce (Amcham) in Viet Nam Jonathan Moreno affirmed that the Amcham will be a connection for Vietnamese enterprises to enhance exports to the U.S. market.

Viet Nam has diversified its export markets and joined other free trade agreements, thus the U.S.' withdrawal from the Trans-Pacific Partnership will not affect much Vietnamese businesses' export activities, said Mr. Fred Bruke, from the Amcham.

Source: Online Newspaper of the Government of the Socialist Republic of Vietnam