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Buyer Community> Trade Intelligence> Country Profile> Vietnam Targets High, Sustainable Export Value in 2011

Vietnam Targets High, Sustainable Export Value in 2011

Published: 04 Dec 2011 23:57:59 PST
At a December 30 meeting on import-export activities, Nguyen Huu Dung, Vice President of the Vietnam Association of Seafood Exporters and Producers (VASEP) informed that the fisheries sector will reduce export volume of some products, including tra and basa fish from over 600,000 tonnes in 2010 to about 300,000 tonnes in 2011 with the aim of raising revenue from products’ quality.
Meanwhile, the wood and forestry industries will implement trial sales following CIF (costs, insurance and freight) in 2011 in replacement of FOB (free on board) despite payment procedure are more complicated.
The Vietnam Food Association (VFA) has created favourable conditions for businesses and localities to negotiate for large rice export contracts in 2011 and expand their linkage in seeds, cultivation and consumption.
For the garment and textiles sector, Dang Phuong Dung, Deputy President of the Garment and Textiles Association said that the sector will take all the advantages of incentives of free trade agreements to earn over US$13 billion from export in 2011.
Next year, the Ministry of Industry and Trade will implement the National Trade Promotion Programme 2011 to support enterprises and help them overcome difficulties.
The country plans to gross US$78.8 billion from exports, an increase of 10% over 2010 and a trade deficit of about US$14 billion, about 18% of total export value. (VNA)
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