Vietnamese exports are increasing both in quantity and quality, especially in fisheries, clothing and textiles, and wood production

HANOI, May 27 (Vietnam News/ANN): Taking advantage of free trade agreements and adapting flexibly to unstable world development, Vietnam’s flagship economies such as fishing, garment, textile and timber are stepping up their exports to increase their turnover.

According to Vietnamese customs statistics, as of May 15, export turnover reached 135 billion dollars, up 15.5 percent year on year.

The Vietnam Textile and Garment Association (VITAS) predicts the industry could achieve export revenue of $42 billion to $43.5 billion this year.

Than Duc Viet, general manager of Garment 10 Corporation, said the company had received enough orders for its traditional products throughout the third quarter of 2022 and customers were confident in the flexibility and adaptability of Vietnamese companies.

The wood processing sector is also teeming with orders through the fourth quarter of 2022. Ho Chi Minh City (HAWA) Handicrafts and Woodworking Association Vice President Nguyen Chanh Phuong said said that if the average export turnover is about 1.5 billion US dollars per month, because it Today the industry target of about 16.5 billion US dollars in export value by the end of 2022 is quite achievable.

The fishing sector registered a record export value in the first five months of this year with 3.65 billion dollars, up almost 47% compared to the same period last year.

Talking about opportunities to boost timber industry exports, Nguyen Thi Thu Trang, director of the Center for WTO and Integration of the Vietnam Chamber of Commerce and Industry, said that the Vietnamese timber industry wood processing and export enjoys an important advantage thanks to free trade agreements (FTAs).

FTAs help companies increase their competitiveness and market share not only in traditional markets such as China, Japan and the Republic of Korea, but also in markets that are unfamiliar with Vietnamese furniture such as Vietnam. ‘Asean or Oceania.

Customers in these regions belong to many diverse segments, including those who are not too demanding, and have high demand for many Vietnam wood products. This opens more opportunities for producers and exporters, especially small and medium enterprises.

VITAS President Vu Duc Giang said that currently most fashion brands in the United States, Japan, Europe and even China are more demanding on clothing products.

Companies that want to join the global playing field must renew themselves, be more transparent in their production, ensure that products are clearly traceable and guarantee green development factors, he added. – Vietnam News/ANN

Michael O. Stutler