The Ministry of Industry and Trade announced Vietnam’s 2008 export plan at a conference Wednesday.

Rice remains one of Vietnam’s major export items
 

The plan includes targeting US$58 billion in export revenues for 2008, a year-on-year increase of 20-22 percent.

The plan should focus on balancing the trade deficit, said Deputy Prime Minister Hoang Trung Hai.

Hai said the effectiveness of trade promotion activities, human resource development and trade associations would be important to further economic growth.

“Vietnam’s higher standing in the international arena directly affects the possibilities of Vietnamese production and exporting,” he said.

The ministry announced a long list of focuses, including improving the quality of traditional export items, expanding production scale, renovating technology and promoting the export of big earners and labor-intensive items.

The plan aims to boost textiles and garments, footwear, furniture, electronic components, handicrafts, rubber products, processed foodstuff and software services.

Exports in crude oil, garments, footwear, electronic and computer components, woodwork, rice, coffee, rubber and mechanical products are expected to grow in 2008.

In particular, handicraft products and electric and cable wire are expected to record over US$1 billion in export revenues.

The ministry said that Japan, the Association of Southeast Asian Nations (ASEAN), China, South Korea, the European Union (EU), the US and Australia will remain key importers of Vietnamese products in 2008.

Exports to Africa and south-western Asia are predicted to surge by around 54 percent from 2007 to reach $2.8 billion due to the regions’ stable trade policy and favorable market conditions for Vietnam’s goals.

Source Thanhnien

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