The "Future of Trade 2030: Trends and markets to watch" also forecasts that the global exports will almost double from 17.4 trillion USD to 29.7 trillion USD over the next decade.

Lach Huyen Port in Hai Phong.

Vietnam is considered an important market contributing to the growth of the global trade, it said.

It also found that 41 percent of global businesses currently operate or plan to invest in Vietnam within the next five to 10 years. This shows that Vietnam will be one of the important motivations of global trade growth in the next 10 years.

The US and China will continue to be Vietnam's largest export markets, respectively accounting for 26 percent and 19 percent of the Southeast Asian country’s total export turnover by 2030.

According to the study, Vietnam is an emerging manufacturing powerhouse with expanding international trading relationships.

According to Michele Wee, CEO of Standard Chartered Bank Vietnam, Vietnam’s increasing integration into the world economy through various free trade agreements (FTAs) such as the EU – Vietnam FTA and the UK – Vietnam brings Vietnam many advantages and allows it to expand its exports, move up value chains across sectors as well as create skilled jobs.

The report, commissioned by Standard Chartered and prepared by PwC Singapore, is based on an analysis of historical trade data and projections until 2030, as well as insights from a survey of more than 500 senior leaders in global companies.

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Can Tho enterprise wins bid to export 15,000 tonnes of rice to ROK

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Vietnam share of global footwear exports surges past 10 pct

For the first time last year, Vietnam accounted for more than 10 percent of the world’s footwear exports after growing five-fold since 2011.

Hoa Binh exports first 10-tonne batch of sugarcane to Germany

The first 10 tonnes of sugarcane grown in the northern province of Hoa Binh were shipped to Germany on November 7, marking a good sign for the local agriculture and farmers.

Source: NDO/VNA