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Vietnam’s agricultural exports will flourish in 2016 PDF Print
Monday, 21 March 2016 14:20

VIETRADE - In 2016, agricultural exports of Vietnam is predicted to gain growth thanks to the rise in demand, and especially to the impact of the in-effect free trade agreements between Vietnam and the major trading partners. Vietnam’s key partners for agricultural products are the US, EU, China and Africa. Out of these, the US is expected to enjoy robust growth. In the past, agricultural exports, mainly: rice, wood, coffee, pepper, cashew nuts experienced stable growth. Particularly, export of vegetable has experienced excellent growth. Those fruits which have never been exported previously, such as, dragon fruits, mango, lychee, longan…, have now been accepted into such demanding markets as: the US, EU and Japan. Considering the continuous growth as of over the past, export value could hit US$2 billion.


It is estimated that, in 2016, agriculture, forestry and fishery exports will experience growth thanks to the rise in demand, diversified product ranges, extended technology application, promote networking and investment into agriculture. This can also be attributed to the impacts of the FTAs which have just been signed and come into effect. This year, Vietnam’s key exporting market - the US, is expected to flourish.


According to the Ministry of Industry and Trade, in the first two months of 2016, export value of agricultural, forestry and fishery products was estimated at US$2.96 billion, increase 9.7% over the same period of last year, accounting for 12.5% of the total export value. Cashew nuts, rice and coffee experienced increase in export volume. As for fishery products, export value in February reached roughly US$ 1.1 billion, increased 8.2% over the same period of last year. The US, Japan and China have remained the key importers of Vietnam’s fishery products.


After many difficulties over 2015, the very first few months of 2016 have witnessed the recovery of key products within agriculture, forestry and fishing exports. Specifically, in the first two months of 2016, export volume of rice was 1.01 tons, equivalent to US$ 445 million, doubled in terms of volume and value as compared to the same period of 2015. According to experts, rice exporting will be fairly “relax” when demand is on the rise due to El Nino. As for fishery products, export value in February reached nearly US$ 1.1 billion, increased by 8.2% compared to the same period of last year. The US, Japan and China are Vietnam’s the leading importers of fishery products.


According to economists, in order to take advantage of the benefits brought about by the integration process, international marketing of agricultural, forestry and fishery products should be top priorities. H.E.Mr. Tran Tuan Anh, Deputy Minister of Ministry of Industry and Trade said, to reach the export targets in 2016 of USD 39-40 billion, the immediate and long term goals still are renovating the growth model and improving the production and trade efficiency which are sustainable and long-lasting. Changes in the structure of export products, which increase the added values, are prioritized, which is insisted in the “Export Strategies until 2020, vision for 2025.”


Along with enterprises’ effort, Ministry of Industry and Trade will continue applying a flexible management mechanism, creating the best possible trading environment for enterprises as well as closely working with MARD in organizing, providing guidance on implementing Government’s policies timely and efficiently. Working with MARD in developing material zone, closely linked with enterprises, to facilitate investment in agriculture and rural areas; continuing the application of advanced technologies to improve production efficiency and product quality and at the same time working on branding, enabling contribution by enterprises to the growth of the agriculture sector.

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