Vietnam should continue bilateral negotiations with the US administration on major export commodities while guiding businesses in diversifying markets, attracting more US investments, and increasing purchases of goods from the US, an analyst has said.

Supported by 17 next-generation free trade agreements (FTAs) already in effect, the industry is poised for further growth, targeting 48 billion USD in export revenue this year.

The private sector should be developed to become one of the most important growth drivers, according to Minister of Planning and Investment Nguyen Chi Dung.

Exporters were advised to make full use of FTAs, tap into niche markets, and seize new opportunities to overcome challenges in an increasingly unpredictable global trade landscape.

Many business representatives report that Vietnam’s enterprises have vast market opportunities thanks to newly signed free trade agreements (FTAs). Companies must seize this chance to boost exports.

Vietnam will take various actions to achieve a growth rate of at least 8% in 2025 as set by the Government, Deputy Minister of Planning and Investment Nguyen Duc Tam told a regular Government press briefing on January 8.

Economic diplomacy has truly become a key component in all external affairs, especially high-level diplomacy, contributing effectively to implemeting strategic breakthroughs, Prime Minister Pham Minh Chinh said while chairing a conference with ambassadors and heads of Vietnamese representative agencies abroad to review the economic diplomacy work in 2024, in Hanoi on December 20.

The Ministry of Industry and Trade (MoIT) has set a target of 6% export growth in 2025 as global inflation has cooled down and international market demand recovers.

From being a minor exporter prior to 2013, Vietnam rose to number eleven in the global rankings of top exporters by 2023, emerging as a surprise player in global trade.

Strategies to help small and medium-sized enterprises (SMEs) strengthen import-export activities was the focal point of discussions at a workshop held in the northern province of Hung Yen on November 15,

Vietnam’s import-export value is likely to touch the 800 billion USD mark by year-end, far exceeding a record of 732 billion USD seen in 2022, economic expert Dinh Trong Thinh has said.

With a series of free trade agreements (FTAs) that Vietnam has signed and implemented with international partners, Hanoi, as the country’s economic locomotive, has intensified efforts to seize opportunities brought by the pacts.

Export revenue of the leather, footwear and handbag sector is predicted to hit 26-27 billion USD in 2024 on the basis of the positive results seen so far, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).

Vietnam boasts advantages and potential in agricultural production and export, yet domestic firms need to do more to join the global food supply chain more intensively, insiders have said.

Vietnam is currently a signatory to 16 free trade agreements (FTAs), which are described as highways connecting Vietnam's economy with major trading partners in the world. In the agricultural sector, FTAs have become a powerful driving force, marking significant achievements across the entire industry.

The rate of national standards and technical regulations on agro-forestry-aquatic food safety equivalent to international standards is expected to reach 100% by 2030, according to a freshly-approved project.

The Ministry of Industry and Trade (MoIT) is set to actively coordinate with other ministries and sectors to step up the negotiations and signing of new free trade agreements (FTAs) with potential partners.

There are many opportunities as well as challenges for the automobile industry when Vietnam is implementing international commitments under free trade agreements (FTAs), heard a seminar organised by Hai Quan (Customs) magazine in Hanoi on May 24.

Vietnam's fruit and vegetable export turnover reached an estimated 1.25 billion USD in the first quarter of 2024, up 27% over the same period in 2023, the General Department of Customs has reported.

Vietnamese Prime Minister Pham Minh Chinh’s official visit to Australia is expected to create new momentum for the bilateral relations, including their trade ties.