Export Prospect: US$300 Bln within Reach
The goal to lift export value to US$300 billion by 2020 is within reach if opportunities are fully exploited, said Deputy Minister of Trade and Industry Tran Anh Tuan.
The export volume increased 20-25 percent annually between 2001 and 2010 before dipping to 17 percent annually from 2010 to 2014, he added.
In the first nine months this year, the index rose 9.6 percent compared to the target of 10 percent set by the National Assembly.
Favorable geographic conditions and political and macroeconomic stability still remain advantages for Viet Nam to lure foreign investment.
The country is now transforming its economy into socialist-oriented market one to improve competitiveness and added value to products.
In addition, a network of free trade agreements signed or under negotiation process offers Viet Nam a good opportunity to increase exports, particularly processing, aquatic products, to the European Union, Japan, the Republic of Korea, Chile among others.
Mr. Tuan said Viet Nam needs to further raise the quality of exports while maintaining firm niches in traditional markets like the U.S. where Viet Nam is the second biggest garment exporter after China.
Noticeably, Vietnamese exports to the U.S. surged 17-20 percent per year, the Deputy Minister of Industry and Trade said.
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