Vietnam is optimistic about exports to the U.S.

by:JIYALI     2021-08-10
Despite concerns about the possible setback of the US economy, Vietnam’s exports to the US still have many plans for growth, said a leading Vietnamese economist.   Vietnam’s senior economic expert Pham Chi Lan said that in 2007, Vietnam’s exports to the United States reached 10 billion U.S. dollars, but only 0.5% of the total U.S. imports.   Currently, the United States imports many products from Vietnam, such as clothing, shoes, seafood, coffee and wood products.   Pham Chi Lan said that the competitiveness of local companies and the quality of their products are the main challenges for Vietnam.   Richard Oberney, director of the International and Government Planning Office of the Consumer Product Safety Commission (CPSC), said that Vietnamese businessmen need to carefully study the export market and diversify their products to meet consumer tastes.   At the Vietnam-U.S. Exporters Forum held by the Vietnam Chamber of Commerce and Industry in Hanoi on March 12, Oberny said that local companies should pay close attention to measures to avoid risks when exporting their products to the U.S.  Vietnamese government agencies suggest special strategies for domestic enterprises to develop, establish human resources, form alliances, and increase their attendance by establishing offices in the US market.   At a recent meeting held by the Ministry of Trade and Industry and business consultants and companies in Vietnam, Vietnam’s business consultants said that Vietnam requires the United States to provide preferential tax-free entry for several products in Vietnam under the GSP.  In 2008, Vietnam’s export revenue to the United States is expected to exceed 13 billion U.S. dollars, an increase of 28% over last year.
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