Today: 23/01/2021 18:01:53 (GMT+7)
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Vietnam on course to earn US$40 billion in agricultural exports

Vietnam’s agricultural export revenues grew by 1.6% to US$30.05 billion in the first nine months of 2020, bringing the full-year target of US$40 billion within sight, according to the Ministry of Agriculture and Rural Development.

Deputy Minister Phung Duc Tien said Vietnam’s farming exports to the EU have reached US$766.3 million since the EU-Vietnam free trade agreement (EVFTA) came into force on August 1.

Vietnam, US$40 billion, agricultural exports, agricultural export revenues,  full-year target, farming exports, free trade agreement

Agricultural export revenues are estimated at US$30.05 billion in the first nine months of 2020.

Exports in August rose by 11.5% from the previous month while exports in September went up 30% over July.

In order to take advantage of the EVFTA, the deputy minister said Vietnam’s agricultural sector needs to standardise its production processes from the preparation of seeds and offspring to final processing.

Vietnam’s rice output in 2020 is projected to reach over 43 million tonnes despite a slight decrease in the total cultivation area to 7.2 million hectares due to crop switching due to saltwater intrusion.

The country’s fishing industry is also implementing various measures recommended by the EU in order to remove its “yellow card” warning and work towards sustainable development.

Due to the coronavirus pandemic, Vietnamese wood processors have been struggling with numerous order cancellations or late payments but the deputy minister stated that forestry export revenues will undoubtedly meet the target of US$12 billion.

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Vietnam enjoys US$3.78 billion in exports to EU since bilateral FTA taking effect
Vietnam enjoyed exports worth US$3.78 billion to the European Union (EU) in only one month since the EU - Vietnam Free Trade Agreement (EVFTA) took effect at the beginning of August.
 

Source: NDO

Vietnam, US$40 billion, agricultural exports, agricultural export revenues, full-year target, farming exports, free trade agreement
 
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