Today: 17-12-2005
Ext.economic relations
Vietnamese exports to Japan likely to reach 4.5 billion USD
VNECONOMY updated: 13/12/2005
Viet Nam is likely to earn 4.5 billion USD from exports to Japan by year-end, 18 percent more than last year's figure or 14.5 percent of the country's total export turnover, according to the Vietnamese Commercial Office in Japan.
With this growth rate, two-way trade between Viet Nam and Japan during the 2006-2007 period is expected to reach over 10 billion USD per year.
Besides crude oil and minerals, Japan remains a potential importer of many other Vietnamese goods, including textile and garments, seafood, furniture and footwear, with focus placed on frozen shrimps. Since 2004, Viet Nam's frozen shrimp exports to Japan have fetched around 500 million USD per year, making up nearly 23 percent of Japan's total frozen shrimp imports.
Viet Nam has also seen increasing demand among Japanese customers for its furniture products. In the past nine months, furniture exports to Japan earned 127 million USD, representing a year-on-year rise of 117 percent.
Additionally, Japan has showed much interest in diversified products of Vietnamese flowers. Seeking to increase the potential growth avenues for Viet Nam's flower exports, a Japanese mission, including representatives from over 200 businesses, was sent to Viet Nam during the currently on-going Da Lat Flower Festival. Annually, Viet Nam's flower export turnover to Japan stood at about 6.2 million USD, accounting for 1.4 percent of Japan's total flower imports.
In order to boost their exports to the Japanese market, Vietnamese businesses need to further study the market and seek more trade opportunities with new customers, said the Commercial Office.
To this end, a trade promotion programme, focusing on marketing assistance, pattern design and sales technique consultancy for Vietnamese exporters, especially the handicraft sector, is being jointly organised by the Vietnamese Trade Ministry and the Japan External Trade Organisation.
Source: Vietnam Agency
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