6 key export markets for agricultural, forestry and fishery products in 2016

In 2016, the export of agricultural, forestry and fishery products is forecasted to have many prospects due to increased market demand and the opportunity to enjoy large tax incentives, increased competitiveness from the recently concluded Free Trade Agreements. Agricultural products with opportunities for export growth in 2016 include: cashew nuts, pepper, wood, cassava and vegetables.

Accordingly, the export market orientation of agricultural, forestry and fishery products in 2016 will focus on key markets including the United States, European markets, ASEAN, Russia and Eastern European countries, China and Africa.

Among Vietnam's key export markets, the US economy has the most positive forecast for 2016 with strong domestic demand in the US and forecast to continue to have stable demand for Vietnamese goods.

That is the information just given at the Seminar on Promoting Trade in Vietnamese Agricultural Products between the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade held on February 18, in Hanoi.

Hydroponics clean vegetables using European technology in Lam Dong.

Mr. Le Van Banh, Director of the Department of Agro-forestry-fishery Processing and Salt Industry, said that the US is not a very demanding market and does not have high requirements for food safety and quality. Taking advantage of incentives from the TPP will also be an advantage for Vietnamese agricultural products in the coming time.

According to Mr. Banh, over the past years, items such as wood and wood products and seafood have been key items, contributing a large proportion to Vietnam's total export turnover to the United States.

"In addition, the United States is often the leading market for importing other agricultural products from Vietnam such as cashew nuts, pepper, coffee and rattan and bamboo products. This is also a large consumer market for Vietnamese rubber, tea and vegetables," said Director Le Van Banh.

The attractiveness of the US market also means that export competition to this market is very fierce, especially Vietnam's major competitors are China, Thailand and Indonesia - countries similar to Vietnam in terms of export products.

On the other hand, technical and trade barriers have also been a significant difficulty for Vietnamese enterprises recently, such as: high anti-dumping tax on pangasius, requirements of the Catfish Inspection Program under Farmbill 2014 effective from March 2016.

Therefore, in 2016, the Ministry of Agriculture and Rural Development plans to organize negotiations to remove difficulties and obstacles for tra fish and connect businesses. It is expected that in the second quarter of 2016, the Ministry will expand the export market for tea products in the United States.

In addition, the free trade agreement with the EU has concluded negotiations and opened up opportunities for Vietnam's agricultural sector as 90% of goods entering this market enjoy a 0% tax rate.

This year, the agricultural sector continues to maintain the presence of agricultural, forestry and fishery products in this traditional market, especially focusing on breaking through into a number of markets with large demand, with advantages to penetrate deeply into European countries.

To proactively adapt to fluctuations in the international economy, ensure integration brings practical and in-depth results and be ready to respond to problems arising in agricultural, forestry and fishery trade, Deputy Minister of Agriculture and Rural Development Tran Thanh Nam requested that Vietnam's trade representative agencies abroad strengthen coordination and ensure timely resolution of technical barriers and disputes arising in agricultural, forestry and fishery trade.

Deputy Minister Nam also expressed his wish to strengthen the coordination between the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade in continuing to promote the opening of Vietnam's agricultural, forestry and fishery market to the international market in order to diversify the market, maintain and develop demanding markets, focus on potential and easy-going markets such as Middle Eastern countries (UAE, Saudi Arabia, Iran...), African countries, effectively exploit traditional markets such as ASEAN, EU. At the same time, seek and diversify new forms of export.

According to Vietnam+