Vietnam targets export revenue of 188 bln USD in 2017

Vietnam has set an export turnover target of 188 billion U.S. dollars for 2017, or 6.9 percent higher than last year, according to the Ministry of Industry and Trade on Friday.

The country's import-export turnover in 2017 is expected to continue to increase thanks to the signing of a number of free trade agreements (FTAs) and foreign investment shifting from other countries to Vietnam, the ministry said, adding that participation in the Association of Southeast Asian Nations (ASEAN) Economic Community will also bring opportunities by expanding export markets and increasing competitiveness.

Meanwhile, Vietnam will spend some 93 billion Vietnamese dong (4.1 million U.S. dollars) on 199 trade promotion projects under the national trade promotion program in 2017, Vietnam's state-run news agency VNA quoted the ministry as saying.

The program aims to expand export markets, targeting countries that signed FTAs with Vietnam, and will also be carried out in domestic markets, especially in rural and mountainous areas, to implement the "Vietnamese use made-in-Vietnam goods" campaign.

Last year, the country recorded a trade surplus of 2.68 billion U.S. dollars, accounting for 1.52 percent of total import-export turnover.

Vietnam saw growth in export turnover to its traditional markets including those in Asia, Europe and the United States last year. Export turnover to the United States saw the highest growth rate of 13.2 percent, followed by Europe with 11.3 percent and Asia with 6.9 percent, said the ministry. Endit