Vietnam to boost exports to China

Vietnam, from 2005 to 2010, will keep on exporting products which are favored by China, according to local newspaper Vietnam Economic Times on Monday.

To reap export revenue to the market of 3 billion US dollars in 2005 and 5.5 billion dollars in 2010, Vietnam will maintain strong export of such key items as crude oil, coal, rubber and cashew nuts to China, approach major Chinese suppliers, processors and distributors of farm produce and seafood, and set up long-term sales networks in big urban areas and showrooms in such cities of Kunming, Nanning, Guangzhou and Shanghai, it said.

Vietnamese companies will export more fruits and vegetables to China from next year when tariffs on most of farm produces drop to zero percent. Other agricultural products to be exported to the market will also bring the firms bigger turnovers.

Under a draft plan on boosting export to China worked out by the Vietnamese Trade Ministry, the ministry predicted that Vietnam is likely to gain export revenue to China of 3.4 billion dollars in 2006, 3.9 billion dollars in 2007, 4.4 billion dollars in 2008 and 4.9 billion dollars in 2009 and 5.5 billion dollars in 2010.

The two-way trade of the two countries stood at more than 6.7 billion dollars last year. The figure is expected to reach 10 billion dollars in 2010.