Vietnam taps opportunities to thrust exports to US
Updated : Wednesday, November 14, 2018 9:52 AM (GMT+0700)

The US is the largestexport market of Vietnam, with export turnover hitting 39 billion USD in thefirst ten months of 2018, representing a year-on-year increase of 12.8 percent. 

 
Processing tra fish for export - Source: VNA

Experts said that the trade war between the US and China iscreating many opportunities for Vietnam to promote exports to the market.

According to the General Statistics Office (GSO), the exportof main products to the US recorded strong rise in the period. 

Particularly, the export of tra fish to the US has sharplysurged in the first three quarters of 2018, totalling 369.1 million USD, up42.9 percent against the same period last year. 

Representatives from Vinh Hoan - one of the leading firms incatfish processing and exporting, said if the US imposes tax on tra fish andtilapia products from China, Vinh Hoan will have more opportunities to occupythe market share in this large market. 

Nguyen Xuan Thanh from Fulbright Vietnam University saidVietnamese enterprises must mostly compete with Chinese firms when exporting tothe US. 

With the taxation imposition on Chinese goods exported to theUS, Vietnam's processed and fresh seafood will have a competitive advantage inthis market.

Apart from the seafood sector, other sectors of Vietnam suchas wood processing, machinery, electronic and electrical equipments, handbags,plastic, rubber, metal products and sport equipment are also benefiting fromthe US-China trade war. 

According to Dr. Su Ngoc Khuong, investment director ofSavills Vietnam, said the war is one of the agents causing the biggest changeto the global economy in 2018. It is creating great opportunities for manytypes of exports from Vietnam in the US market. 

Khuong noted that it is necessary to have specificorientations and policies to support Vietnamese enterprises in improving thequality of their products, meeting the requirements in terms of quality andprice, towards increasing the market share of Vietnamese goods in the USmarket.

Source: VNA 

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