The EU is an important export market for Việt Nam’s agricultural, forestry and fishery products, offering significant advantages under the EU-Vietnam Free Trade Agreement (EVFTA).
Exports reached an estimated $56.3 billion in the first nine months, up 7.8 per cent from a year earlier, while the sector recorded a trade surplus of $16.9 billion, up 7.4 per cent, the ministry said.
Asia remained Việt Nam’s largest export market, accounting for 45.5 per cent of total market share, with exports to the region increasing 11.3 per cent year on year.
By the end of July, authorities had approved 44 investment projects, with newly registered and additional capital totalling more than VNĐ84.36 trillion ($3.23 billion), more than five times higher than the same period last year.
By the end of July, agro-forestry-fishery exports were estimated at nearly US$42.6 billion, up about 7 per cent year-on-year and equal to 57.6 per cent of the annual target.
Việt Nam is reshaping its agricultural sector by prioritising value creation on each unit of land over production volumes, with an aim of lifting export revenue to a record US$74 billion this year and establishing a pathway to $100 billion...
Domestic agricultural enterprises are exerting efforts to maintain their standing in key export markets to avoid dependence on certain markets, especially the US.
The management should not only focus on expanding markets or achieving higher prices but also on proactively identifying and forecasting non-traditional barriers in order to raise timely response measures.