The southern province of Dong Nai posted nearly 800 million USD generated through outbound shipments to the ASEAN market within the past eight months.
According to the provincial Customs Department, the sum accounted for almost 10 percent of Dong Nai’s overall export revenue in the period with key earners including apparels, agricultural produce, electronic devices and components.
Meanwhile, the province purchased commodities worth more than 122 million USD from bloc partners.
A range of tariff lines in bloc trade have dropped by up to 10 percent since 2010 and will be eliminated with the birth of the ASEAN Economic Community (AEC) by the end of 2015. Vietnam will greatly benefit from the incentives as major export products, such as garments, seafood, rice, coffee, rubber and woodwork products, will go untaxed.
Experts said the establishment of the AEC could result in minor changes to local products and create opportunities for export.
Dong Nai’s Department of Agriculture and Rural Development said a stronger link among producers and the application of advanced technology are key to maintaining the domestic market and boosting outbound shipments.
The agency is working closely with the industrial sector to carry out trade promotion and market research while announcing regular forecasts.-VNA
