Vietnam Needs Direct Stateside Exports

11:08:06 AM | 10/9/2019

What should Vietnamese exporters do to export their products to the United States (U.S.) amid a complicated world economy and tense U.S.-China trade disputes is an issue of concern raised at the seminar on promoting export to the U.S. market and recommendations organized by the Vietnam Chamber of Commerce and Industry (VCCI) in cooperation with the American Chamber of Commerce in Vietnam (AmCham) on August 29.

Remarking on Vietnam-U.S. recent trade ties, Ms. Amanda Rasmussen, Chairwoman of AmCham - Ho Chi Minh City Chapter, Chief Operating Officer of ITL Vietnam Company, emphasized that Vietnam’s exports to the U.S. increased strongly in the first quarter of this year. The question is how much percentage actually comes from Vietnamese enterprises and how much comes as result of U.S. - China trade tensions?

She said, Vietnam’s export growth to the U.S. outpaced its import growth in the first quarter. Usually, 25-30% is a strong export growth.

Some economic and trade experts said that overall exports are declining in the world but Vietnam is driven by a positive export growth, partly from U.S.-China trade tensions. That is good news but also comes with certain risks.

According to Ms. Amanda Rasmussen, there has been an accelerating shift of investment flows from China to Vietnam in many fields. Although it is an advantage in this context, it is quite small.

Because of the goodwill to build more economic relations endorsed by the two governments, Vietnam - U.S. relations are getting better. The U.S. highly appreciates Vietnam for potential trade partnership. Therefore, Vietnam’s export potential to the U.S. is still very high.

However, for their part, exporters are responsible to do everything right and lawful, and comply with U.S. import and export regulations though these are quite peculiar to the rest of world.

She also recommended that Vietnam pay attention to export growth, especially direct exports to the U.S. rather than indirect exports to Vietnam from China and then to the U.S. from Vietnam.

Mr. Nguyen Vu Kien, VCCI International Relations Department, also recommended that exporters need to grasp export market information in order to achieve the best business results, clearly understand export standards to the U.S., learn about recent trade disputes between Vietnamese and U.S. businesses and have their own business plans and strategies.

Thanh Nga