Prospects for VN’s exports

VGP – Viet Nam’s export is expected to continue growing to be in the spotlight of the national economy.

February 10, 2014 3:03 PM GMT+7

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HSBC Bank has said Viet Nam will gain benefits from foreign nations by strengthening export to the US and the EU. The country's export is expected to rise 20% in 2014, which can raise its Gross Domestic Product (GDP) growth rate to 5.6% in 2014.

The Ministry of Industry and Trade (MIT) is actively negotiating Free Trade Agreements (FTA) to open market and accelerate exports, said Minister of Industry and Trade Vu Huy Hoang.

Vietnamese Trade Counselor in Chile Tran Dinh Van confirmed that Vietnamese products such as phones, footwear, handicrafts, fertilizer and timber are enjoying preferential tariffs in Chile.

Viet Nam will focus on developing competitive products, said Minister Vu Huy Hoang.

He added that the nation will boost export to such big markets as the US, the EU, Japan, China, the Republic of Korea, ASEAN and India and other potential markets such as Russia, Africa and Latin America.

By Thuy Dung