PM attends ceremony marking US$500 billion in import-export

Prime Minister Nguyen Xuan Phuc (centre) at the ceremony

At the ceremony, the Government leader also set the target for the country’s export of US$300 billion next year, asking ministries, authorities and localities to closely join hands together to make it the fifth consecutive year of Viet Nam’s trade surplus.

He noted that Viet Nam’s economy has made vigorous changes in the context of the complicated world’s economic and political situation, and that the country has remained for long in the list of the 30 countries and territories with the highest import and export values. In the ASEAN, Viet Nam ranks the third after Singapore and Thailand.

It was reported that Viet Nam has recorded a constant surplus in its trade following a long deficit. In the first 11 months of this year, the country’s trade surplus amounted to US$10.94 billion.

China, the U.S. and Japan used to be the three largest trade partners of Viet Nam but since 2013, the Republic of Korea has officially surpassed Japan to become the country’s third largest commodity trade partner.

Commending ministries, authorities and localities for their contributions to the achievement of the US$500 billion level in import and export, PM Phuc also spoke highly of their concerted involvement. He praised the Ministry of Industry and Trade and others in negotiating free trade agreements, and spoke highly of the processing sector of the plantation wood that brought back to the country over US$11 billion, and the agriculture with over US$41 billion.

The leader said that in the time to come, Viet Nam needs to take advantage of the chances and bring into play the efficiency of the collaboration among the ministries and sectors. The country’s exports should be recomposed in the direction of reducing raw exports and increasing processed commodities, he stressed, adding that in the time to come, institutional reforms and those of administrative procedures must be continued so as to further facilitate import and export activities.

Setting a goal of US$300 billion in export for the next year, PM Phuc ordered relevant ministries, authorities and localities to closely join hands together so as to make it the fifth consecutive year in which Viet Nam record trade surplus. Besides, attention must also be paid to the fight against frauds in origins and smuggling so as to create a fair, open and transparent business environment, along with the boosting of the supporting industry.-VNA