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Vietnam’s exports to ASEAN unstable: Trade Ministry (30/01)
06/08/2010 - 30 Lượt xem
Major export items to ASEAN include rice and crude oil – accounting for the largest part, agricultural products, electronic and computer parts, coffee, and seafood.
Viet Nam's exports to ASEAN have increased slowly while imports from these countries have risen rather rapidly, therefore, the country's trade gap is bound to widen further, the ministry warned.
Under the Common Effective Preferential Tariff/Asean Free Trade Area (CEFT/AFTA) Agreement, most goods and commodities imported from ASEAN are subject to a 0-5 per cent tax level.
This soft tariff has been facilitating exports of Vietnamese goods to other ASEAN members. At present, revenues earned from ASEAN exports represent 16.3 percent of the country’s total export revenues.
In 2007, Viet Nam’s rice exports to ASEAN members reached more than US$1 billion, and the ministry expects the number to remain unchanged this year.
The ministry said Singapore and Malaysia have had high demands for Vietnamese fresh vegetables and fruits. Therefore, vegetable and fruit exports to the ASEAN market are expected to reach US$32 million, an increase of 30 percent over last year.
The ministry also forecast the value of Viet Nam’s exports to Asia this year at US$24.5 billion, up 16.7 percent compared to 2007.
Source: SGGP
