Challenges ahead for exports

VietNamNet Bridge – Minister of Trade, Tran Tuan Anh, speaks to Hai Quan (Custom) newspaper on the challenges facing the country in restructuring exports. In 2017 Vietnam exported goods worth more than $210 billion. What’s the target set by the Ministry of Trade for 2018? At the 2017 year-end meeting, the National Assembly set a target for export turn-over to increase by 7-8 per cent and for the import surplus over exports to be under 3 per cent. These targets are not high compared to those in 2017. In 2017, Vietnam earned US$213.8 billion in exports – an increase of 21.1 per cent compared to that of 2016. However, in 2018, there are many challenges for import and export activities. One of the reasons is that the economic and trade policies of major countries like the United States and the European Union are likely to change quickly and have multi-dimensional impacts on Vietnam. Coupled with that is the tense political situation in many places that are having negative impacts on global finance, the prices of raw materials and the demand for raw materials as well as the importing of consumer goods. Furthermore, the supply of agricultural products throughout the world will continue to increase. Many countries have tried to increase production so that they will not depend so much on imports. Last but not least, the trade protection tendency has been on the rise. In our strategy on imports-exports for 2011-2020 and towards 2030, Vietnam has a target to increase… [Read full story]

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