The export turnover in October is expected to reach 32.3 billion USD, up 5.3 month-on-month, showing a positive signal given the 6.3% decrease recorded in the previous month.
Export turnover is estimated at 32.3 billion USD in October (Photo: VNA)
Hanoi (VNA) - The export turnover in October is expectedto reach 32.3 billion USD, up 5.3 month-on-month, showing a positive signalgiven the 6.3% decrease recorded in the previous month.
The agricultural sector continued to haveimpressive contributions to the export panorama. In the month, agro-fisheries products earned about 3 billion USD, up18.3% year-on-year.
This is also the only commodity group torecord growth in the first 10 months of 2023, with export turnover estimated at26.7 billion USD, a year-on-year increase of 3.8%.
Rice is one of the products with a highexport turnover in the period. Do Ha Nam, Vice President of the Vietnam FoodAssociation (VFA), said that paddy prices in Vietnam are at record highs,pushing domestic rice prices higher than those for export. This is alsothe reason why Vietnam's rice export prices continue to go against the worldtide.
According to the Vietnam Association of Seafood Exporters and Producers(VASEP), in September, tra fish exports reported positive growth for the firsttime since the beginning of this year. Although the increase is only 1% overthe same period last year, this is still a very good sign for the fisheriessector. Currently, China is Vietnam’s biggest trafish importer, followed by the US.
In September, tra fish exports report positive growth for the first time since the beginning of this year (Photo: VNA)
To promote import-export growth, theMinistry of Industry and Trade is accelerating negotiations towards the signing ofnew trade agreements and commitments, including completing and realising a freetrade agreement (FTA) with Israel, and signing other FTAs and trade deals with potential partners such as the United Arab Emirates (UAE) and theSouthern Common Market (MERCOSUR) to diversify markets, products, and supplychains.
It will support businesses to take advantageof commitments in signed FTAs, especially the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free TradeAgreement (EVFTA), and the UK-Vietnam Free Trade Agreement (UKVFTA) to promoteexports, through dissemination on rules of origin, issuance of certificate oforigin, and opportunities and ways to make the most of advantages brought aboutby these deals.
The ministry will also coordinate with theMinistry of Agriculture and Rural Development to negotiate with China to further open the market for other Vietnamese fruit and vegetable products such asgreen grapefruit, fresh coconut, avocado, pineapple, star apple, lemon andmelon, while improving efficiency of and regulating the speed of customsclearance at border gates between Vietnam and China./.
After a sudden decline in September, Vietnam's exports regained growth in October. This signals a hope for the export-oriented economy in the remaining months of the year.
Quality and brand are recognised as decisive factors for Vietnam’s fruits and vegetables to tap the opportunities from the UK – Vietnam Free Trade Agreement (UKVFTA) and expand export to this highly demanding market, said Dang Phuc Nguyen, General Secretary of Vietnam Vegetable and Fruit Association (Vinafruit).
Experts have been exploring various solutions to restore the competitiveness of Vietnamese shrimp exports, as reduced demand and higher requirements in terms of transparency and environment safety have had a significant impact on the sector since early this year.
A delegation of the Ministry of Industry and Trade (MoIT) led by Deputy Director of the ministry’s Agency of Foreign Trade Tran Quoc Toan and representatives from 19 Vietnamese rice exporters have paid a working visit to Beijing, China to promote Vietnamese rice in the market.
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Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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Export turnover is estimated at 32.3 billion USD in October (Photo: VNA) 
In September, tra fish exports report positive growth for the first time since the beginning of this year (Photo: VNA) 
