Vietnam will spend 93 billion VND (4.1 million US) 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 European Union, the Eurasian Economic Union, the ASEAN Economic Community, and the US.
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 188 billion USD for 2017, or 6.9 percent higher than last year.
The country recorded a trade surplus of 2.68 billion USD in the year, accounting for 1.52 percent 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 percent, followed by Europe with 11.3 percent and Asia with 6.9 percent.