Striving for export turnover to reach 300 billion USD in 2020

The project to develop regional markets for the 2015-2020 period, with a vision to 2030, has just been approved by the Prime Minister.

One of the market development orientations in the coming time is to reduce export dependence on a number of markets - Illustration photo

The target is to strive for an export turnover of 300 billion USD by 2020; an average export growth rate of 11-12% per year in the period from 2015 to 2020; to strive for a stable trade balance by 2020 and a sustainable trade surplus from the following year.

Reducing export dependence on a few markets

Accordingly, in terms of market development orientation, firmly consolidate and gradually expand the market share of Vietnamese goods in traditional markets including Southeast Asia, Northeast Asia (Japan, Korea), China, Australia, the United States, the European Union (EU), Russia and Eastern European countries, Canada, India. Diversify export markets, focus and create breakthroughs in expanding new export markets with potential in Africa, Latin America, the Middle East and India.

Reduce export dependence on certain markets to limit risks from market fluctuations as well as regional and global economic and political factors.

Strengthen trade promotion activities in traditional markets and potential new markets; deeply and widely participate in the distribution system in regional markets, especially the American and European markets.

Exploit and make good use of market opening opportunities according to the roadmap of tariff reduction and removal of non-tariff barriers to boost exports; improve the efficiency of exporting Vietnamese goods to markets that have signed Free Trade Agreements (FTAs); promote bilateral and multilateral trade negotiations, facilitating the export of Vietnam's key products; attract foreign direct investment from developed countries that have signed FTAs ​​with Vietnam to acquire modern technology, improve competitiveness and participate more deeply in the global supply chain.

Support businesses to participate in trade promotion

One of the solutions to implement the Project is trade promotion. Specifically, implementing comprehensive solutions to support businesses in participating in trade promotion activities in foreign markets, especially at prestigious annual specialized fairs to help connect with distribution systems and attract many partners around the world in key markets.

In addition, strengthening the work of building and promoting Vietnamese product brands in conjunction with trade promotion activities in export markets to build the image and create a foundation for stable and solid development of Vietnamese product exports. Prioritizing support for penetration into foreign markets for product brands under the National Brand Program.

Strengthen market research and trade promotion to develop exports, bringing Vietnamese goods to new markets in Africa and Latin America; potential markets in Northern Europe, Eastern Europe and the CIS, the South Pacific region (East Timor, Palau, Vanuatu), Northeast Asia (Mongolia, North Korea), and some states in the Central United States.

Another solution to implement the Project is to consolidate traditional export markets and diversify export markets. Specifically, consolidate and develop key market groups and strong export products. Research and develop export market development strategies for key export product groups in each period to expand and maintain stable export markets for Vietnamese goods.

Along with that, research and develop policies to encourage and support Vietnamese enterprises to participate in production and distribution networks abroad. Actively guide and support enterprises to proactively participate in the global value chain with branded goods and high added value. Strengthen comprehensive cooperation mechanisms with large distribution systems in regional markets...

According to Giao Thong Newspaper