Vietnam saw a trade surplus of nearly 1.86 billion USD from exports toJapan in the first eight months of 2014, representing a 40 percentincrease over the same period last year.
According to datareleased by the Ministry of Industry and Trade, Vietnam has exported anestimated 9.74 billion USD in goods to Japan during the eight monthperiod, a yearly increase of 11 percent.
Bizlive.vn quoted theministry as saying that Vietnamese exports of textiles and garments toJapan experienced encouraging growth of 6.5 percent, valued at over 1.6billion USD.
Trade experts forecast that the country's apparelexports to Japan would likely reach 2.7 billion USD by the year-end dueto increasing orders from Japanese importers and the positive influenceof Japanese participation in negotiating the Trans-Pacific Partnership,which would assist in bringing Vietnamese garment exports to the market.
Besidesleather and footwear, seafood, bags and suitcases, exports ofagricultural products to Japan also witnessed a healthy growth, asVietnamese enterprises gradually adapted and then met Japan's technicalbarriers and standards.
In the January to August period,Vietnam's imports from Japan hit 7.88 billion USD, surging 6 percentagainst last year's corresponding period. Among major imports includedmachinery equipment and their parts, computers and components,electronics, steel and steel products, as well as plastic.
Fouryears after inking the Vietnam-Japan Economic Partnership Agreements(VJEPA), many Vietnamese export businesses have effectively exploitedthe advantages of preferential tariffs to boost exports to the Japanesemarket.
However, in order to enhance the share of Vietnam's goodsin this difficult market, exporting companies must study the market fora better understanding of the commitments of the free trade agreements.They must also be prepared to face the challenges of meeting hightechnical standards, especially in overcoming the strict barriersimposed on food products entering the Japanese market.-VNA
According to datareleased by the Ministry of Industry and Trade, Vietnam has exported anestimated 9.74 billion USD in goods to Japan during the eight monthperiod, a yearly increase of 11 percent.
Bizlive.vn quoted theministry as saying that Vietnamese exports of textiles and garments toJapan experienced encouraging growth of 6.5 percent, valued at over 1.6billion USD.
Trade experts forecast that the country's apparelexports to Japan would likely reach 2.7 billion USD by the year-end dueto increasing orders from Japanese importers and the positive influenceof Japanese participation in negotiating the Trans-Pacific Partnership,which would assist in bringing Vietnamese garment exports to the market.
Besidesleather and footwear, seafood, bags and suitcases, exports ofagricultural products to Japan also witnessed a healthy growth, asVietnamese enterprises gradually adapted and then met Japan's technicalbarriers and standards.
In the January to August period,Vietnam's imports from Japan hit 7.88 billion USD, surging 6 percentagainst last year's corresponding period. Among major imports includedmachinery equipment and their parts, computers and components,electronics, steel and steel products, as well as plastic.
Fouryears after inking the Vietnam-Japan Economic Partnership Agreements(VJEPA), many Vietnamese export businesses have effectively exploitedthe advantages of preferential tariffs to boost exports to the Japanesemarket.
However, in order to enhance the share of Vietnam's goodsin this difficult market, exporting companies must study the market fora better understanding of the commitments of the free trade agreements.They must also be prepared to face the challenges of meeting hightechnical standards, especially in overcoming the strict barriersimposed on food products entering the Japanese market.-VNA
