|
Vietnamese exports to China, ASEAN see a golden opportunity
An import tariff ranging from 0-5 percent applies to all goods shipped to China or ASEAN as of January 1, 2010, but Vietnam will be exempted until 2015, said an official from the Ministry of Industry and Trade.
This represents a huge opportunity for Vietnamese exports, said Dao Tran Nhan, Head of the Ministry’s Asia-Pacific Department at a seminar in Hanoi on April 15.
Statistics show that China has consistently been Vietnam’s principal trading partner in recent years.
In 2009, despite the global financial crisis, Vietnam’s turnover from exporting goods to the Chinese market reached US$4.9 billion, an annual increase of 8.23 percent. In the first two months of this year, Vietnam shipped more than US$1.26 billion worth of products to China.
In the first quarter, trade performance between Vietnam and ASEAN reached over US$6.1 billion, an increase of 37 percent from last year.
Trade experts said ASEAN is a huge untapped market offering many preferential tariffs. However, Vietnam’s capacity to produce goods for export is much lower than that of its rivals. They proposed that Vietnamese businesses gradually get into such markets as Singapore, Thailand, Malaysia and the Philippines.
vov
|
