Vietnam export and import sublimates in the context of fluctuating world
The Ministry of Industry and Trade has just reported a forecast of Vietnam's total import-export turnover exceeding 500 billion USD.
Whereby, In the first 11 months of 2019, our country's exports reached US $ 241.7 billion, up 7.9% over the same period in 2018, reaching the 7-8% target assigned by the National Assembly; import turnover reached US $ 230.7 billion, up 6.6% over the same period in 2018. Total import-export turnover reached about US $ 472 billion in the first 11 months.
“With the current progress, Vietnam's total import-export turnover will exceed US $ 500 billion in the second half of December 2019,” the report stated.
The Ministry of Industry and Trade highly appreciated this result in the context that the world economy in 2019 grew slowly with increasing risk and challenge factors. Global trade also slowed, exports of regional countries decreased compared to the same period last year. The disagreements among major countries on the shape of the global trading system are deepening, especially the US-China trade conflict and the issue of Britain leaving the European Union (EU). As trade protectionism is increasing, some countries are willing to violate WTO rules to protect domestic production.
Despite difficulties, exports in 2019 have greatly improved the business and investment environment, thanks to the Government's determination and efforts of ministries and branches, making progress in reforms. administrative procedures, simplifying investment procedures, supporting start-ups, reforming export and import have boosted production and created more sources of goods for export.
In 2019, the Ministry of Industry and Trade promotes the opening of markets for Vietnam's exports through negotiation and signing of trade agreements. Over the past time, the Ministry of Industry and Trade has actively coordinated with relevant ministries and agencies to conclude negotiations and sign free trade agreements (FTAs); Agreement on trade promotion cooperation. Up to now, Vietnam has participated in negotiations and signed 16 FTAs, of which 12 FTAs have signed and entered into force.
The Ministry of Industry and Trade has been trying to implement the necessary works to implement the Agreements and support enterprises to exploit the benefits of FTAs such as internalizing their commitments; propagate about integration process and explain commitments; studying and assessing the impact of FTAs, reforming administrative procedures, modernizing the work of granting certificates of origin (C / O), applying self-certification of origin, …
In addition, the Government and the Ministry of Industry and Trade are particularly interested in the implementation of the CPTPP Agreement.
“The initial results through statistics show that Vietnamese businesses have made better use of the opportunities provided by FTAs. The total value of preferential C / O use accounts for about 38% of the total export turnover to FTA partner markets. In particular, some new markets in the CPTPP saw a good increase right after the agreement came into effect, such as going to Canada and Mexico, ”said the Ministry of Industry and Trade.
The Ministry of Industry and Trade has been proactively grasping the situation of applying trade protection measures of importing countries to promptly inform relevant units and enterprises, and at the same time effectively fight against with technical barriers, unreasonable trade barriers.
In order to continue facilitating the business activities of the business community, the Government has directly directed, urged and operated closely in revising many decisions related to trade, customs, and mechanisms. National Single Window, specialized inspection, trade facilitation. Besides, logistics infrastructure is increasingly improved. The infrastructure works, transport depots, freight forwarding services have been upgraded and expanded.
In particular, newly built and expanded highways, airports, ports and logistics centers have contributed to improving cargo handling capacity and promoting the rapid circulation of goods. The capacity of logistics service enterprises significantly improved, making a positive contribution to economic activities. Vietnam's Logistics Performance Index (LPI) ranked 39/160 countries, up 25 places compared to 2016 and ranked 3rd among ASEAN countries.
“Import and export activities in 2020 will still face challenges. The Ministry of Industry and Trade will focus resources and actively implement solutions to strive to reach the National Assembly's target of 7-8% export growth, ”the Ministry of Industry and Trade emphasized.
