Import and export continue to increase strongly, which information given at the regular Government Press Conference in January 2024 is held on afternoon of February 1, 2024. This is the last regular Government press conference in lunar year of Quy Mao, right before approaching Lunar New Year holiday Giap Thin.
Accordingly, total import-export turnover reached nearly 64.22 billion USD, an increase of 37.7% over the same period, with a trade surplus of 2.92 billion USD. Energy and food security are guaranteed, rice exports in January 2024 reached 347 million USD, an increase of 86.1% over the same period.
Minister, Head of Government Office Tran Van Son, Government Spokesperson, said that right from the first days and months of the new year 2024, ministries, branches and localities have drastically implemented Resolutions, Conclusions of the Central Committee, Politburo and National Assembly; Focus on directing and operating decisively and clearly, do one thing or another. Accordingly, socio-economic situation in January 2024 continued positive recovery trend, achieving important and remarkable results in many fields.
In field of agriculture, according to a report from Ministry of Agriculture and Rural Development, export turnover of agricultural, forestry and fishery products in the first month of 2024 increased, reaching 5.14 billion USD thanks to contribution of all product groups.
Specifically, forest product exports reached 1.49 billion USD, an increase of 72.5%; seafood reached 730 million USD, an increase of 60.8%; agricultural products reached 2.71 billion USD, an increase of 93.8%; livestock reached 36 million USD, up 3.5%; production input reached 177 million USD, an increase of 49.2%.
Regarding the market, export value to China accounts for 23%, an increase of 106.9%; The US accounted for 20.8%, an increase of 95.9% and Japan accounted for 7.4%, an increase of 47.5%.
Mr. Phung Duc Tien - Deputy Minister of Agriculture and Rural Development - said that exports of rice, shrimp, pangasius and rubber all grew by 52.6 - 81% depending on the product; Exports of cashew nuts increased by 129%, vegetables and fruits increased by 112%, coffee increased by 103%... Every export item also accelerated, signaling a positive year.
Notably, in official list of winning businesses just announced by the Indonesian National Logistics Agency (Bulog) on January 31, 2024, Vietnam won 8/17 bidding packages. Vietnamese businesses, including Vinafood 1, Vinafood 2, Loc Troi, Phat Tai Food Co., Ltd., International Gia Joint Stock Company, King Green Natural Foods Joint Stock Company and Kien Giang Import-Export, won a total of 8/17 tender packages to import 500,000 tons of rice from Indonesia.
In 2024, Vietnam aims to maintain rice cultivation area of 7.1 million hectares, rice output of over 43 million tons, ensuring domestic consumption and export of over 8 million tons of rice.
Besides results achieved, experts say that exports have been an important driving force for GDP growth over the past many years but it is also necessary to think about market diversification by Vietnam's traditional markets.
The US is currently Vietnam's largest export market, so any instability that occurs in the US will have a direct impact on Vietnam. Therefore, if Vietnam want to maintain growth momentum, it need to diversify market. In addition to key export products such as components, phones, mobile devices, etc., Vietnam also has the potential to develop other sectors such as furniture or agricultural products.
To increase competitiveness with these products, it is necessary to increase output and reduce costs. For example, how Malaysia sells durian to China. It is necessary to invest and research better, more productive agricultural products and prioritize infrastructure development.
As a highly open economy, Vietnam cannot avoid negative effects of external fluctuations in context of huge risks and challenges for the world economic outlook in 2024. In addition, import-export activities are being affected by tensions in the Red Sea, pushing shipping rates to record highs.
In promoting import and export activities, Ministry of Industry and Trade said it will promote negotiations and signing of agreements, commitments, new trade links and signing of FTAs and trade agreements with other countries. Other partners have a lot of potential (UAE, MERCOSUR...) to diversify markets, products and supply chains.
At the same time, support businesses to take advantage of commitments in FTA Agreements, especially CPTPP, EVFTA, UKVFTA Agreements to promote exports, through propaganda on rules of origin and issuance of Export Certificates and ways to take advantage of opportunities from the agreements.
Coordinate with Ministry of Agriculture and Rural Development to negotiate with China to open more export markets for other Vietnamese fruit and vegetable products. Improve efficiency and regulate speed of customs clearance of import and export goods border gates at the border between Vietnam and China, especially for seasonal agricultural and aquatic products; Move quickly and strongly to official export....
Regarding Chinese market, Deputy Minister Phung Duc Tien emphasized that this is a market with more than 1.4 billion people and a very large consumption power. But if we want to open up agricultural products to this potential market, we must build smart border gates and promote e-commerce because this is an inevitable trend.
In addition to China, Ministry of Agriculture and Rural Development also identified the US, Japan, and the EU as key markets. In the near future, Ministry will promote opening of new markets with great potential such as Halal Muslim countries, the Middle East, Africa... At the same time, take advantage of FTAs, especially CPTPP and EVFTA Agreements to promote export of key agricultural, forestry and fishery products and support businesses in signing new export orders.

Source: Vitic/ congthuong.vn