Exports

Free trade agreements like CPTPP and EVFTA are driving Vietnam’s trading performance during a difficult economic year.

Vietnam’s export turnover may expand by 10% this year, exceeding the original target of 4-5% set by the Government.

Hanoi is scheduled to announce an economic recovery plan in line with Covid-19 control and prevention.

Vietnam is in a favorable condition to take advantage of free trade agreements (FTA) that the country is a part of, as well as growing global demand in the late-year shopping season.

Vietnam’s trade outlook for the remainder of the year is projected to have intertwined challenges and opportunities, with the country’s efforts to contain the pandemic the most important factor.

Tightening imports of goods that Vietnam has abundant supplies is the right move, especially when the pandemic is wreaking havoc on the economy.

With the funding, local banks have issued 974 guarantees valued at US$686 million to support exporters and importers.

Public investment, exports, and domestic consumption continue would be the three key factors for Vietnam’s economy this year.

Potential disruption of supply chains as a result of the pandemic is making it hard for local enterprises to fulfill their contractual obligation to partners.

The batch is the result of good trade marketing campaigns to diversify national specialties in the market.