Based on enhanced trade relations with major overseas markets, a growth target of 20 percent in export revenue has been decided by Ministry of Trade (MoT) for the current year.
WTO membership, which slashes tariffs on products, and PNTR status with US are inspiring reasons for setting the huge target according to Deputy Trade Minister Le Danh Vinh.
It is being expected that for this year, net exports value will exceed both last year's figure of US $39.61 billion and National Assembly's target of $46.5 billion to reach $47.54 billion.
Global companies could import goods worth $27.7 billion and local firms will be shipping products worth $19.84 billion. Minister added that apparel exports will go up considerably to $7.12 billion and that of footwear to $4.1 billion owing to PNTR status.
Trade disputes and technical barriers could prove to be hindrances for this year's exports. Japan, China, US, EU and Southeast Asian countries will continue to be main importers of Vietnamese products.
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