Thursday, May 28 2020

VietNamNews

Vietrade supports exporters amid COVID-19 outbreak

Update: April, 11/2020 - 09:00

 

Cloth face masks are made by workers of Chiến Thắng Garment JSC in Hà Nội. VNA/VNS Photo Phương Hoa

HÀ NỘI The Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (Vietrade) has prioritised 5,000 exporters that need help in finding markets amid the COVID-19 outbreak.

These enterprises will be classified by groups and categories, Vietrade said, adding it will team up with localities, associations and relevant sectors to build up a database of Vietnamese exporters, expected to amount to 100,000 in the near future.

A list of nearly 100 Vietnamese enterprises which are capable of supplying face masks and other supplies for COVID-19 prevention has also complied by Vietrade in order to meet rising demand in European and American regions. That list will be sent to trade counselors to support Vietnamese businesses in seeking new export outlets.

The first quarter of 2020 saw the country's exports reach US$59.08 billion, up 0.5 per cent in comparison to 5.2 per cent recorded during the same period last year - the lowest level of growth in 17 years.

However, this was a general trend of international and regional trade, according to the Ministry of Industry and Trade (MoIT). In the first two months of 2020, export turnover to China decreased by 17 per cent; South Korea by 1.5 per cent; Thailand by 0.8 per cent and Japan by 4.1 per cent.

The MoIT assessed that Việt Nam's export of goods also had positive expectations in the future especially as the pandemic has been controlled in China - one of Việt Nam's largest trade partner. 

Fewer restrictions will lead to more opportunities for Việt Nam in exporting goods to its neighbour. VNS

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