Vietnamese products penetrate series of export markets

VCN- In 2020, theCovid-19 pandemic made it difficult to export goods, so the flexible response and rotation of export markets is one of the important factors helping.
2515-2323-17-4027-16-2245-3-0205-14813159-801587226647820-2044178820-o
Export of agriculture, forestry and fishery products has made a remarkable contribution, bringing impressive export results in 2020. Photo: N.Thanh

Diversifying and exploiting new markets, in addition to exploiting traditional export markets continues to be the key direction in 2021 to maintain good export momentum.

Timely rotation

The Ministry of Industry and Trade saidthat, especially in 2020, the import-export market has been expanded, not only strengthened in traditional markets, but also exploited new potential markets and effectively utilizedFree Trade Agreements (FTAs).

Vietnam's exported goods have reached most world markets. Many products have gradually gained a firm foothold and improved their competitiveness in many markets with high quality requirements such as the EU, Japan, the US andAustralia.

Looking back at the export market in the difficult context of 2020, the Ministry of Industry and Trade stated that from the first months of the year, when the pandemic startedin China, the Ministry of Industry and Trade proposed and advised the Prime Minister to issue Official Telegram No. 224 / CD-TTg dated February 12, 2020 on clearing import-export activities through a number of land border gates with China.

The Ministry of Industry and Trade has also coordinated with the Ministry of Health and localities to develop a customs clearance management process to ensure good disease control; actively communicate with leaders of local ministries in China to increase customs clearance time, supplement manpower for loading and unloading,thereby helping border trade activities be deployed more smoothly. Since Vietnam's export goods were stagnant in large volume, it was basically clear after that.

Then, when the pandemicspread in Korea, Japan and then the EU, the US and rest of the world, under the direction of the Government, the Prime Minister, the Ministry Industry and Trade, ministries and agencies have actively worked out plans to remove immediate difficulties, ensure good supply for domestic production and open up the export market.

Notably, Minister of Industry and Trade Tran Tuan Anh said that the National Assembly has completed the ratification of the Vietnam - EU FTA (EVFTA) and the Vietnam - EU Investment Protection Agreement (EVIPA) in the monthly meeting inJune to be put into effect in August. Right after the EVFTA took effect, the results were quite positive.

In terms of numbers, in 2020, Vietnam mainly export surplus to developed countries with strict quality requirements for imported goods such as the United States (trade surplus is nearlyUS$62.7 billion); EU (trade surplus is nearlyUS$20.3 billion).

Particularly for the EU market, for the whole of 2020, exports reachedUS$34.94 billion, down 2.3% compared to 2019 due to the effects of the pandemic.

However, after five months of implementing the EVFTA, exports to the EU market reached about US$15.38 billion, an increase of about 1.6% over the same period in 2019. Many export products of Vietnam have had positive changes in the EU market after the EVFTA was implemented, typically seafood andrice.

Mentioningflexibility and market rotation to solve problems for export, typically in the agricultural sector. Mr. Hoang Van Tu, representative of the United Nations Food and Agriculture Organization (FAO) in Vietnam, saidthat by 2020, Vietnam will increase its agricultural export turnover while other countries decreased,which shows that Vietnam has taken advantage of the opportunity, proactively dominated and expanded the export market of agricultural products to the world.

“According to the FAO's assessment, while the whole world is in crisis and the supply chain is broken, Vietnam still maintains the export of essential agricultural products to the world, especially to Africa, China, Philippines and poor countries,thereby, the world looks at Vietnam with admiration, not only for its achievements in poverty reduction, but also for ensuring political security, food security and world peace,” Mr. Hoang Van Tu said.

Diversify and utilize small-scale markets

In 2021, the Industry and Trade sector aims for an increase in total export turnover of about 4-5% compared to 2020, the trade balance continues to maintain a trade surplus. In order to continue to extend the impressive results of 2020, the solution to the export market is an important factor.

This ministry determined that it would continue to exploit and take advantage of opportunities from FTAs to find solutions to develop markets and remove barriers to penetrate new markets; continue to closely monitor the movements of the Covid-19 pandemicto take timely measures.

Notably, the head of the Industry and Trade sector emphasized that the Ministry of Industry and Trade prioritizes the implementation of export promotion activities and the export markets soon recover; focus on closely monitoring the situation of each market to review and identify types of goods that countries are in need of importing to exploit and promote exports; diversifying markets and structure of export products.

Regardingagricultural products, Minister Tran Tuan Anh said that the Ministry of Industry and Trade is cooperating with the Ministry of Agriculture and Rural Development and related units to diversify forms of trade promotion to access export markets,prioritize the implementation of national projects on trade promotion and export promotion activities for key markets.

The Ministry also strengthened propaganda and dissemination of information about export promotion opportunities to Asia-Pacific, EU, ASEAN, Australia, New Zealand, as well asagricultural, forestry and aquatic products to effectively exploit the benefits from FTAs.

“Along with that, the Ministry of Industry and Trade will work closely with ministries, agencies and localities to effectively implement a traceability system for trade promotion for agricultural products, helping farmers boost consumption of goods with a large volume and higher added value in the domestic market as well as for export,"said the leaderof the Industry and Trade sector.

By Thanh Nguyen/Bui Diep

Related News

State revenue in first month of the year equal to 14% of the estimate

State revenue in first month of the year equal to 14% of the estimate

VCN - According to the Ministry of Finance, in January - the first month of 2025, the total state budget revenue is estimated at VND275.9 trillion, equal to 14% of the estimate; meanwhile, the total state budget expenditure is estimated at VND134.4 trillion.
Ho Chi Minh City: Foreign visitors spend more than VND1,500 billion to buy goods upon exit

Ho Chi Minh City: Foreign visitors spend more than VND1,500 billion to buy goods upon exit

VCN - According to the Ho Chi Minh City Customs Department, in 2024, the unit refunded VAT on goods that foreigners and oversea Vietnamese residents brought with them when leaving the country with a value of over VND1,540 billion.
Hai Phong Customs processes more than 1,500 declarations during 2025 Lunar New Year holiday

Hai Phong Customs processes more than 1,500 declarations during 2025 Lunar New Year holiday

VCN - During the 2025 Lunar New Year holiday, Hai Phong Customs Department processed 1,547 declarations.
In the first 15 days of 2025, total import-export turnover reached more than US$34 billion

In the first 15 days of 2025, total import-export turnover reached more than US$34 billion

VCN - Total import-export turnover in the first half of January 2025 reached more than US$34 billion, the trade balance had a deficit of nearly US$2 billion.

Latest News

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia has announced it will initiate an anti-dumping duty investigation on the imports of galvanised iron coils/sheets or galvanised steel coils/sheets originating from or imported from Việt Nam, China and South Korea.
Coffee prices hit record highs, heightening speculation risks

Coffee prices hit record highs, heightening speculation risks

Phan Minh Thông, Chairman of Phúc Sinh JSC, called the price surge "insane," warning of continued increases as businesses are compelled to trade at elevated prices instead of following pre-set contracts.
Exports witness a rise of US$1 billion in the first 15 days of 2025

Exports witness a rise of US$1 billion in the first 15 days of 2025

VCN - Compared to the same period in 2024, exports in the first half of January 2025 increased by more than 6%, equivalent to nearly USS$1 billion.
Central industrial hub sets ambitious growth target in 2025

Central industrial hub sets ambitious growth target in 2025

The central province has targeted ambitious growth of up to 10 per cent with some key strategic industrial investment projects in 2025, contributing VNĐ25 trillion (US$1 billion) to the State budget.

More News

Demand for dragon fruit in Tiền Giang Province continues to increase

Demand for dragon fruit in Tiền Giang Province continues to increase

Dragon fruit prices in Tiền Giang Province remain high after the Lunar New Year due to increased demand from China and domestic consumption.
Data centres are attracting investors in Asia

Data centres are attracting investors in Asia

The global data centre market reached new heights in 2024, driven by the growing demand for generative AI, which has triggered a new wave of investment.
US or China: Who will lead in Vietnamese Tra fish imports?

US or China: Who will lead in Vietnamese Tra fish imports?

VCN - Given that tra fish is a key export commodity for Vietnam's seafood industry, the question arises whether the United States will surpass China as the leading importer of this product in 2025.
Sustainable fashion presents promising niche market for textile manufacturers

Sustainable fashion presents promising niche market for textile manufacturers

The combination of sustainability and culture will open up more opportunities for Vietnamese textile enterprises to strengthen their position in the global market and capture the promising Nordic fashion market.
VN

VN's car industry to diversify supply chain

While China remains a significant supplier, recent trade data highlights Việt Nam’s efforts to diversify supply to meet industry demands.
Exports of agro-forestry-aquatic products down nearly 5 per cent in January

Exports of agro-forestry-aquatic products down nearly 5 per cent in January

Việt Nam’s export value of agro-forestry-aquatic products was estimated at US$5.08 billion in January, marking a 4.9 per cent decline compared to the same period last year.
Thailand reviews anti-dumping tax on Vietnamese steel

Thailand reviews anti-dumping tax on Vietnamese steel

TRAV recommended that the Việt Nam Steel Association (VSA) notify relevant local manufacturers and exporters to answer the investigation questionnaire within the prescribed deadline.
Pangasius fetch record price in early 2025

Pangasius fetch record price in early 2025

Currently, larger pangasius weighing over 1.2kg, are selling at VNĐ32,440 (US$1.29) per kilogram, a record high not seen since 2022.
Việt Nam and India trade reached $15 billion in 2024

Việt Nam and India trade reached $15 billion in 2024

Trade relations between Việt Nam and India continue to flourish, with bilateral trade turnover reaching around US$15 billion in 2024.
Read More

Your care

Latest Most read
Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia has announced it will initiate an anti-dumping duty investigation on the imports of galvanised iron coils/sheets or galvanised steel coils/sheets originating from or imported from Việt Nam, China and South Korea.
Coffee prices hit record highs, heightening speculation risks

Coffee prices hit record highs, heightening speculation risks

Phan Minh Thông, Chairman of Phúc Sinh JSC, called the price surge "insane," warning of continued increases as businesses are compelled to trade at elevated prices instead of following pre-set contracts.
Exports witness a rise of US$1 billion in the first 15 days of 2025

Exports witness a rise of US$1 billion in the first 15 days of 2025

Compared to the same period in 2024, exports in the first half of January 2025 increased by more than 6%, equivalent to nearly USS$1 billion.
Central industrial hub sets ambitious growth target in 2025

Central industrial hub sets ambitious growth target in 2025

The central province has targeted ambitious growth of up to 10 per cent with some key strategic industrial investment projects in 2025, contributing VNĐ25 trillion (US$1 billion) to the State budget.
Demand for dragon fruit in Tiền Giang Province continues to increase

Demand for dragon fruit in Tiền Giang Province continues to increase

Dragon fruit prices in Tiền Giang Province remain high after the Lunar New Year due to increased demand from China and domestic consumption.
Mobile Version