VN-US Trade to Boom This Year
Bilateral trade between Vietnam and the United States will develop fast this year, following Vietnam’s accession to the World Trade Organization (WTO) and the US’s approval of permanent normal trade relations (PNTR) with Vietnam.
The two-way trade is likely to reach US$12-13 billion this year, up between 33.3 per cent-44.4 per cent on-year, said a conference reviewing Vietnam-US trade relations held recently by the Trade Ministry.
Of the sum, Vietnam is expected to earn around $10 billion from goods exports stateside, up 25 per cent against 2006. This means the country still maintains its trade surplus status with the US.
In 2007, the ASEAN member country will further boost exports of crude oil, apparel, footwear, woodwork products, computers, electronic products and spare parts, plastics, porcelain, electric wire and cable wires.
Currently, the US is Vietnam’s largest export market while the ASEAN country ranks 38th among countries and territories exporting to the US and 70th among importers of products from the foreign nation.
In 2006, bilateral trade between Vietnam and the US surpassed $9 billion, of which, around $8 billion were Vietnam’s exports and the rest imports. (Countryside Today)
Vietnamese
