The current recovery of the global economy now offers better conditions for Hanoi’s exporters.

The city targeted increasing the export of textiles and garments, shoes and handicrafts to the US and EU, where the demand for imports will rise again in 2010. Trade between Vietnam and these markets is expected to boom as the fifth round of negotiations on a comprehensive partnership agreement between Vietnam and the EU has finished.

Regarding the Japanese market, Hanoi is taking full advantage of the Vietnam-Japan Economic Partnership Agreement to boost the export of textiles and garments, shoes, handicrafts, wooden furniture, seafood and agricultural products.

Hanoi has helped its businesses to penetrate ASEAN markets enabling the sale of electric wire and cables, construction materials, machinery, software and plastics. New Zealand also imports machinery, clothing, wooden furniture, shoes, and coal while Australia is keen on textiles and garments, computers and wooden furniture.

The ASEAN-Australia-New Zealand Free Trade Area, which has officially got underway, has removed at least 90 taxes and now offers various incentives – ideal for Hanoi’s exporters.

China continues to be a large customer for Vietnam. Given that, Hanoi’s enterprises are stepping up the processing of rubber, food and minerals plus agricultural products.

In addition to their traditional markets, domestic businesses are also actively setting their sights on new, potential markets like Africa, the Middle East, West Asia and South Asia.

The city has encouraged its business community to increase trade promotions and avoid taking unnecessary risks. /.