Exports to CPTPP members rocket

VGP – Viet Nam’s exports to members of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) witnessed high growths over the recent nine months of 2019 thanks to the nation taking advantages of commitments in the agreement to boost export and diversify the export markets.

October 09, 2019 4:21 PM GMT+7

According to the recent statistics of the Ministry of Industry and Trade, the nation gained US$194.3 billion from exporting, a year-on-year increase of 8.2% and making up 73.9% of the year’s plan.

Exports to countries signing the Free Trade Agreement (FTA) with Viet Nam saw high growths such as Japan up 10%, the Republic of Korea up 8.1%, ASEAN up 4.7%, Russia up 13.9% and New Zealand up 12.5%.

Viet Nam’s export value to two American nations which are members of the CPTPP rocketed such as Canada US$2.9 billion, up 30.9% and Mexico US$2.2 billion, up 27%.

In nine months, the U.S. maintained the largest export of Viet Nam with the export value of US$44.86 billion, up 28.2%.

As the negotiations and signing of FTAs have reduced tariffs and expanded market for Viet Nam, the Ministry of Industry and Trade highlighted the importance of improving the national competitiveness, attracting more foreign and domestic investment and development of auxiliary industry, infrastructure and human resources to maximize benefits from the FTAs.

By Thuy Dung