AsemconnectVietnam - According to the General Department of Customs, in the first two months of 2023, Vietnam's exports to some ASEAN markets, such as Thailand and Singapore increased sharply.

Specifically, in the first two months of 2023, although the total bilateral trade turnover decreased slightly by 6% (mainly due to a decrease in import turnover from Thailand to Vietnam), Vietnam's exports to Thailand reached 1.2 billion USD, up by 12.4% over the same period of 2022.
Also in the first two months of 2023, the two-way trade turnover between Vietnam and Singapore as well as export and import turnover in each direction increased. Specifically, the total import-export turnover between Vietnam and Singapore reached 1.49 billion USD, up by 16.5% over the same period of 2022.
In which, Vietnam's export turnover to Singapore reached 677.7 million USD, up by 8.8% over the same period of 2022.
Generally, in the first two months of the year, the total export turnover to ASEAN reached 4.96 billion USD, accounting for about 10% of the total export turnover of the country.
Thailand and Singapore were the two key markets of Vietnam in the ASEAN region - the country’s fourth largest export market. In trade relations with the ASEAN market area, Vietnam has many advantages, such as close geographical distance, tastes and cultures have many similarities. We have Agreement on Trade in Goods (ATIGA) and we have bilateral agreements to facilitate trade with a number of ASEAN member countries.
According to the Ministry of Industry and Trade, Vietnam has many opportunities to expand the exports of agricultural products and food to markets in ASEAN. However, most agricultural products and foodstuffs imported into ASEAN countries require Halal certification. This certification is also considered as the new standard of quality and hygiene.
Along with noting that domestic enterprises actively participate in trade promotion activities, seek partners, and expand exports to ASEAN countries, the Ministry of Industry and Trade also recommends businesses to pay attention to trade protection measures in the countries of the bloc.
Providing information about activities to promote exports to ASEAN, Mr. Vu Ba Phu - Director of Trade Promotion Department - Ministry of Industry and Trade said that the Department will continue to coordinate with localities and industry associations to strengthen trade promotion activities.
The aim is to bring manufacturing and exporting enterprises involved in direct access to the Malaysian market through the organization of specialized or general fairs in this country as well as closely coordinate with the Vietnam Trade Office in host countries in implementing promotion activities, especially verifying partners.
With a population of over 650 million people, and GDP scale of about 3 trillion USD, ranking 5th in the world, having a favorable position in connection with Vietnam, ASEAN is a potential market and room for export of Vietnam's products. This will help Vietnam continue to improve its efficiency in exploiting the ASEAN market and improve its position in regional production networks and value chains.
The Ministry of Industry and Trade is also continuing to closely monitor the developments in the world market, advising and proposing cooperation frameworks and solutions to simultaneously develop traditional markets and diversify export markets, as well as supporting businesses to take advantage of signed FTAs to effectively exploit the market and boost exports.
CK
Source: VITIC/congthuong.vn