At the ceremony, the Government leader also set the target for the country’s export of 300 billion USD next year, asking ministries, authorities and localities to closely join hands together to make it the fifth consecutive year of Vietnam’s trade surplus.

Prime Minister Nguyen Xuan Phuc (centre) at the ceremony.

He noted that Vietnam’s economy has made vigorous changes in the context of the complicated world’s economic and political situation, and that the country has remained for long in the list of the 30 countries and territories with the highest import and export values. In the ASEAN, Vietnam ranks the third after Singapore and Thailand.

It was reported that Vietnam has recorded a constant surplus in its trade following a long deficit. In the first 11 months of this year, the country’s trade surplus amounted to 10.94 billion USD.

He praised the Ministry of Industry and Trade and others in negotiating free trade agreements, and spoke highly of the processing sector of the plantation wood that brought back to the country over 11 billion USD, and the agriculture with over 41 billion USD.

The leader said that in the time to come, Vietnam needs to take advantage of the chances and bring into play the efficiency of the collaboration among the ministries and sectors. 

The country’s exports should be recomposed in the direction of reducing raw exports and increasing processed commodities, he stressed, adding that in the time to come, institutional reforms and those of administrative procedures must be continued so as to further facilitate import and export activities.

Setting a goal of 300 billion USD in export for the next year, PM Phuc ordered relevant ministries, authorities and localities to closely join hands together so as to make it the fifth consecutive year in which Vietnam record trade surplus. 

Vietnam posts over 9 billion USD in trade surplus

In the first 11 months of this year, Vietnam's export turnover increased by 7.8% and its import value increased by 7.4% over the same period last year.

Agricultural sector gains trade surplus of 8.8 bln USD in 11 months

The agriculture sector enjoyed a trade surplus of 8.8 billion USD in the first 11 months of this year, 1.5 billion USD higher than the same period last year, according to the Ministry of Agriculture and Rural Development.

Vietnam’s trade surplus estimated at 7.05 bln USD

In the first 10 months of this year, Vietnam's export turnover increased by 7.4% and its import value increased by 7.8% year-on-year.

Vietnam continues to enjoy trade surplus with Israel

The two-way trade between Vietnam and Israel was estimated at US$760 million in the first three quarters of this year with Vietnam continuing to enjoy a trade surplus of US$440 million, according to a Vietnamese official.

Trade surplus estimated at nearly 6 billion USD

Vietnam is expected to post a trade surplus of nearly 6 billion USD in the first nine months of this year.

Source: VNA