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Seminar discusses WTO admission impact on coffee, cocoa, pepper and cashew sectors
Vietnam has integrated deep into and has become an important part of the global economy as a leading exporter of various products, including coffee, cocoa, pepper and cashew nuts, affirmed Deputy Minister of Industry and Trade Le Danh Vinh.
The deputy minister was addressing a seminar, organised today in Hanoi, to assess the impact of Vietnam’s accession into the World Trade Organisation after two years on the coffee, cocoa, pepper and cashew sectors.
According to speeches delivered at the seminar, integration to the world economy has created both opportunities and challenges for businesses in general and businesses operating in the four above-said sectors.
According to Mr Luong Van Tu, president of the Vietnam Coffee and Cocoa Association (Vicofa), WTO accession had helped local businesses access a huge "playground" with more than 5 billion consumers with a total import turnover of up to US$635 billion a year and global demands for coffee have been forecast to increase every year.
However, experts were of the view that if local businesses pay more attention to increasing the quality, after-harvest and processing technology and the added value of these products, apply good agricultural practice (GAP) and good manufacturing practice (GMP) their competitiveness, and thus export turnovers, on the global market will be increased.
Vietnam currently has 500,000 hectares under coffee. The country's coffee exports have increased annually over the past years in both quantity and turnover. In the first half of this year, coffee exports have brought home over US $1 million. Vietnam's coffee products have been exported to 70 countries and territories.
In 2007, Vietnam exported 153,000 tonnes of cashew nuts, earning over US$650 million, ranking first in the world for the second consecutive years in cashew nut exports. The country currently has over 400,000 hectares under cashew.
Since 2001 to date, Vietnam has always occupied the first position in the world in terms of pepper exports, accounting for more than one third of the global market share. The country targets to export 80,000 tonnes of pepper in 2008, earning US$290 million.
The seminar was sponsored by the Ministry of Industry and Trade and the National Ho Chi Minh Political and Administrative Academy and organised by the Centre for Industrial and Trade Information, the National Committee on International Co-operation Office and the Vietnam Youth Company.
This is the first among the 15 seminars to be held to assess the impact of WTO accession on the key economic sectors of Vietnam.
ND
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