Vietnam has trade surplus with the US in 2013

16:41 | 27/12/2013 Trade

(VEN) - “2013 can be said to be a successful year of Vietnamese exports and those to the US in particular. The value of exports to the US is predicted to exceed US$25 billion for the first time, and if the prediction comes true, Vietnam will have a surplus of about US$20 billion in trade with the US this year,” said Commercial Counselor Dao Tran Nhan, Head of the Vietnam Trade Office in the US, in a talk with Vietnam Economic News’ Lan Phuong.

Could you briefly say about the results of exports to the US in 2013?

2013 can be said to be a successful year of Vietnamese exports and those to the US in particular. The total export value is predicted to reach US$133.5 billion, up 16.6 percent compared with 2012. In the first 11 months of 2013, the value of exports to the US reached US$23.5 billion and it is predicted that it will exceed US$25 billion at the year’s end, a rise of 22.5 percent compared with 2012. With the value of imports from the US predicted to reach over US$5 billion, Vietnam will have a surplus of US$20 billion in trade with the US this year. Exports to the US usually account for about 20 percent of Vietnam’s total export value. So this trade surplus will not only mark a successful year of Vietnam’s exports to the US but will also significantly contribute to the country’s trade balance this year.

What are your views on the opportunities and challenges which will face Vietnam’s exports to the US next year, based on these results?

In 2014, the US will continue to be a major export market for Vietnam. If the current export growth rate is maintained, the value of exports to the US is predicted to increase by about 10 percent next year.

However, Vietnamese exports to the US usually have to cope with trade barriers and anti-dumping, anti-subsidy lawsuits against products such as seafood, footwear, textiles and garments. These difficulties will continue to face Vietnamese exporters in 2014 and the ensuing years.

What has the Vietnam Trade Office in the US done to help Vietnamese exporters deal with trade disputes?

To help Vietnamese exporters overcome difficulties caused by trade disputes, in the recent period, the Vietnam Trade Office in the US has maintained tight coordination with Vietnamese associations and sectors as well as with each business. In the recent period, Vietnamese businesses had to cope with an anti-dumping, anti-subsidy lawsuit against shrimp exports, which resulted in a very high tax rate imposed by the US on Vietnamese shrimp. Following great efforts of the Vietnam Trade Office in the US, the Vietnam Association of Seafood Exporters and Producers as well as businesses, in September 2013, Vietnam won its case in the lawsuit, allowing 33 Vietnamese shrimp exporters to enjoy a tax rate of zero percent when exporting to the US.

I highly appreciate the effective coordination between domestic businesses and Vietnam trade offices in foreign countries. It is this coordination that has helped us quickly escape anti-dumping, anti-subsidy lawsuits against Vietnamese exports./.

Theo ven.vn