US$4.1 million for trade promotion in 2017
Vietnam will spend VND93 billion (US$4.1 million) on 199 trade promotion projects under the national trade promotion programme in 2017, according to the Ministry of Industry and Trade (MoIT).
The programme aims to expand export markets, targeting countries that signed free trade agreements with Vietnam, like Japan and the Republic of Korea, and member nations of the EU, the Eurasian Economic Union, the ASEAN Economic Community, and the US.
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Trade promotion will be also carried out in domestic markets, especially in rural and mountainous areas, to implement the “Vietnamese use made-in-Vietnam goods” campaign.
Vietnam’s import-export turnover in 2017 is expected to continue to increase thanks to the signing of a number of free trade agreements and foreign investment shifting from other countries to Vietnam. Participation in the ASEAN Economic Community will also bring opportunities by expanding export markets and increasing competitiveness.
The MoIT has set an export turnover target of US$188 billion for 2017, or 6.9% higher than last year.
The country recorded a trade surplus of US$2.68 billion in the year, accounting for 1.52% of total import-export turnover.
Vietnam’s export turnover to traditional markets including Asia, Europe and the US saw growth last year. Export turnover to the US saw the highest growth rate of 13.2%, followed by Europe with 11.3% and Asia with 6.9%.
