Local businesses have been called upon to capitalize on traditional markets and at the same time seek new ones, especially those with high export growth that Vietnam has signed free trade agreements (FTAs) with.
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Tien Giang posts export turnover of 3 billion USD in 2020. |
They have also been asked to channel investment into modern equipment and further foster the implementation of the export-import strategy for 2011-2020 and a vision to 2030.
The provincial industry and trade sector will bolster the dissemination of information regarding new generation FTAs to support exports.
In the time to come, Tien Giang will pay attention to simplifying procedures regarding the issuance of certificates of origin and arrange courses on rules of origin in FTAs to help enterprises remain updated on regulations and seize opportunities brought about by trade deals, in an attempt to gain a foothold in export markets and attract foreign currency, Tuan said.
The province will work to improve State management in trade and services at large, and exports in particular, along with trade promotions for export items and also job creation.
It will also better its investment climate and provincial competitiveness index to facilitate exports.
Tien Giang posted export turnover of 3 billion USD last year, equal to 88.2 percent of the target and down 8.1 percent from 2019 due to the COVID-19 pandemic.
Industrial goods accounted for the lion’s share, with 76.5 percent.
Bronze pipe enjoyed high export growth, raking in 601.5 million USD, up 5.7 percent against 2019, while rice exports nearly doubled to 131.8 million USD. Exports of footwear, meanwhile, inched up 1 percent to more than 450 million USD.
Major export markets included countries in the Americas, Europe, and Northeast and Southeast Asia.
Source: VNA