Proactive measures taken to promote export to CPTPP markets

Thứ bảy - 04/05/2019 02:32 273 0

The Ministry ofIndustry and Trade (MoIT) has worked out comprehensive solutions to expand andseek more export markets for Vietnam’s goods, towards fostering the country’sexport, especially to member nations of the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP).

Illustrative image - Photo: VNA

According to Minister of the MoIT Tran Tuan Anh, the ministryhas developed and submitted to the Prime Minister a scheme to handle internationaltrade disputes, accelerate the implementation of key projects, and increaseproduction capacity of sectors, with the aim of contributing to stimulatingeconomic growth.
The scheme is considered as an overall action programme ofthe Government to implement the CPTPP and affirm Vietnam's integrationcommitments to bring the most benefits to the national economy, localities andpeople.

The MoIT’s Export and Import Department said Vietnam’s exportturnover to Japan and Canada - the most potential markets within the CPTPPregion - has recorded a strong surge in recent times.

Vietnam’s export turnover to Japan in the first quarter of2019 hit 4.62 billion USD, up 6.68 percent year-on-year. Its main exportsinclude textiles (nearly 900 million USD), means of transport and spare parts(over 630 million USD), machinery and equipment (450 million USD), and seafood(over 306 million USD).

Notably, the export of fertilizer witnessed a sudden growthin the first quarter, reaching 8,126 tonnes worth 3.7 million USD, up 509percent in volume and 1,158 percent in value compared to the same period lastyear.

Other exports to Japan seeing strong growth in the firstquarter include chemicals (70 percent); animal feed and raw materials (56.8percent); ore and minerals (52 percent); iron and steel (49 percent); andplastic materials (43 percent).

Economic experts said Vietnam’s exports to Japan haveincreased rapidly over the past time thanks to the CPTPP agreement. Japan, forthe first time, has pledged to completely eliminate import taxes for a largenumber of Vietnamese farm and aquaculture products.

On the other hand, with the two free trade agreements (FTAs)between Vietnam and Japan, and between ASEAN and Japan, a number of Vietnam’saquatic exports to Japan are also removed tariff barriers.

Along with Japan, two-way trade between Vietnam and Canadatripled from 1.14 billion USD in 2010 to 3.85 billion USD in 2018, of whichVietnam enjoyed a trade surplus of 2.14 billion USD with this market.

In the first three months of 2019, Vietnam's export to Canadasurged 42 percent compared to the same period last year. Its main exports tothe country were textiles, footwear, computers, electronic products andcomponents, means of transport and spare parts, seafood, and furniture.

According to Bui Tuan Hoan from the Department of Europeanand American market under the MoIT, with the population of 37 million people,along with 250,000 Vietnamese Canadian people, the North American nation is apotential market for processed food enterprises of Vietnam.

Canada has a fairly open policy on tropical agriculturalproducts with import tariffs of zero percent and no technical barriers, so ifVietnam can overcome challenges related to storage and transportation, thecountry will have more opportunities to export more fresh fruits to thismarket, Hoan said.

Vietnamese trade cousellor in Canada Do Thi Thu Huong saidwith the implementation of the CPTPP, Canadian businesses are more and moreinterested in the Vietnamese market and want to promote business and investmentin areas of infrastructure and information technology, aviation, education, andforestry.

The MoIT said the expansion of export markets is considered along-term strategy to help Vietnamese enterprises deeply participate in theregional value chain, and improve their production capacity andcompetitiveness.

To increase export turnover, Minister Anh recommended thatbusinesses pay attention to abiding by regulations on barriers and tradeconflicts that may occur, towards making it easier for their products topenetrate into CPTPP member countries.

Source: VNA

Từ khóa: Proactive measures taken to promote export to CPTPP markets