ID :
47670
Thu, 02/26/2009 - 09:44
Auther :
Shortlink :
http://m.oananews.org//node/47670
The shortlink copeid
Firms urged to take advantage of EU preferential tariffs
Hanoi (VNA) - The Ministry of Industry and Trade is targeting 15 percent growth in exports to the EU this year.
The efforts to increase exports would focus on machinery, electronics, electrical
equipment, processed food products, garments, footwear and handicrafts, the
ministry announced.
"We should carefully study EU trade and industrial policy and make recommendations
to ministries, sectors, localities and businesses, to help them draw up
appropriate export strategies," said Deputy Minister of Industry and Trade Le Danh
Vinh.
"Though the EU has been badly impacted by the global economic downturn, it remains
a potentially lucrative market," Vinh said.
The nation would also explore the EU market for sources of raw materials needed
for domestic production and export, especially in high-demand sectors, he said.
Vinh urged businesses to take full advantages of the EU's Generalised System of
Preferences (GSP) and its preferential treatment of poor nations in trade.
The EU has 27 member states, and a large market of over 460 million consumers.
Realising the importance of this market, Vietnam has entered into over 10
agreements with the bloc, laying a firm legal foundation for expanding bilateral
commercial ties.
Trade ties between Vietnam and the EU have grown and flourished over the past
nine year, with bilateral trade topping 76 billion USD, of which Vietnam 's
exports to the EU accounted for 50.4 billion USD.
Principal exports have included footwear, garments, coffee, wood products and
seafood, while the nation imports machinery, pharmaceuticals, garment accessories,
steel and fertilisers.
Representatives of the European commission and the Ministry of Industry and Trade
reviewed trade ties between Vietnam and the EU and discussed future prospects
for bilateral cooperation at a joint conference held in Brussels , Belgium ,
over the weekend.
The European Commission gave an overview of the mechanism and policies in its
relations with other countries, including Vietnam .
"Through the meeting, Vietnam gained a better understanding of these
policies and procedures, so we can boost our exports to this demanding
market," Vinh said.-Enditem
The efforts to increase exports would focus on machinery, electronics, electrical
equipment, processed food products, garments, footwear and handicrafts, the
ministry announced.
"We should carefully study EU trade and industrial policy and make recommendations
to ministries, sectors, localities and businesses, to help them draw up
appropriate export strategies," said Deputy Minister of Industry and Trade Le Danh
Vinh.
"Though the EU has been badly impacted by the global economic downturn, it remains
a potentially lucrative market," Vinh said.
The nation would also explore the EU market for sources of raw materials needed
for domestic production and export, especially in high-demand sectors, he said.
Vinh urged businesses to take full advantages of the EU's Generalised System of
Preferences (GSP) and its preferential treatment of poor nations in trade.
The EU has 27 member states, and a large market of over 460 million consumers.
Realising the importance of this market, Vietnam has entered into over 10
agreements with the bloc, laying a firm legal foundation for expanding bilateral
commercial ties.
Trade ties between Vietnam and the EU have grown and flourished over the past
nine year, with bilateral trade topping 76 billion USD, of which Vietnam 's
exports to the EU accounted for 50.4 billion USD.
Principal exports have included footwear, garments, coffee, wood products and
seafood, while the nation imports machinery, pharmaceuticals, garment accessories,
steel and fertilisers.
Representatives of the European commission and the Ministry of Industry and Trade
reviewed trade ties between Vietnam and the EU and discussed future prospects
for bilateral cooperation at a joint conference held in Brussels , Belgium ,
over the weekend.
The European Commission gave an overview of the mechanism and policies in its
relations with other countries, including Vietnam .
"Through the meeting, Vietnam gained a better understanding of these
policies and procedures, so we can boost our exports to this demanding
market," Vinh said.-Enditem
