There remains large room for exports to US: Official
The US remains a promising market of Vietnam and there remained large room for more exports, Minister Counsellor Bui Huy Son of the Vietnam Trade Office in the US told a consultation session on export to the US held via conference on November 30.
Hanoi (VNA)🐼 – The US remains a promising market ofVietnam and there remained large room for more exports, Minister Counsellor Bui HuySon of the Vietnam Trade Office in the US told a consultation session onexport to the US held via conference on November 30.
Son said the US is importing more Vietnamese farm produce, foodand wooden furniture. Between 2021-2025, its demand for food and farm produceis forecast to keep rising. In the remaining months of this year, the prospect of exportingwooden furniture to the US is bright on the back of growing shopping demandduring holidays, he said. Deputy Director of the Ministry of Industry and Trade’s VietnamTrade Promotion Agency Le Hoang Tai said the US economy is recovering stronglywith a gross domestic product growth of 4.9 percent in the third quarter thisyear. Despite the pandemic, two-way trade between Vietnam and the US is aboutto hit 100 billion USD in 2021. As online shopping trend is becoming popular, several opinionssuggested tapping major e-commerce sites such as Amazon to introduce products.Therefore, firms need to make difference via design or marketing strategies. In order to help Vietnamese goods successfully enter theUS market, they were advised to ensure the origin of materials and step uptrade promotion activities. Experts instructed them how to set up a distribution system,accelerate the use of advanced technologies and actively link up withVietnamese business associations in US states./.
Trade experts agreed at a workshop in Ho Chi Minh that there is great potential for Vietnam to expand exports to the US market, especially consumer and handmade products.
The US was Vietnam’s leading export market in the first five months of the year, with export turnover of 24.6 billion USD, an 8.2 percent increase compared to last year.
Vietnam and the US have huge potential to boost cooperation in trade and supply chains after COVID-19 is brought under control, which opens up many opportunities for Vietnamese firms to increase exports to this major market.
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Illustrative image (Photo: VNA) 
