Vietnam’s exports to Australia are predicted to surge in 2015due to the latter’s decision to import prominent commodities from theSoutheast Asian nation.
The Australian Ministry ofAgriculture approved litchi imports from Vietnam earlier this monthand as a result, a number of Australian authorities are preparing tovisit Vietnam to examine and agree on quality standards for thefruit.
In 2014, Vietnam’s farm produce and seafoodgrew by 17.5 percent annually among goods destined for Australia,making it the highest growing commodity.
Pepper saw ayearly increase of 52.5 percent while aquatic products recorded a riseof 20.7 percent to exceed the targeted 200 million USD.
Cashews witnessed a slight rise of 12.6 percent to dominate the Australian market with 96 percent of the market share.
Furthermore, processing and manufacturing industrial products also saw a 13.9 percent rise against the previous year.
Other commodities with high growth were iron and steel (121 percent);electric wire (80.4 percent); cement (255 percent); means of transportand spare parts (66.5 percent); garments and textiles (46.7 percent);footwear (30.6 percent); and wood and timber products (22.6 percent).
Currently, Australia is the eighth biggestimporter of Vietnamese products. In 2014, trade hit 6 billion USD, anannual rise of 18.8 percent, raking in 3.99 billion USD in exports andrunning a trade surplus of 1.93 billion USD.
According to the Vietnam General Department of Customs, export turnoverto Australia reached 742.8 million USD in the first quarter of 2015.Seafood, in particular, made up 59 percent of Vietnam ’s totalexport revenue.
However Australia is a highlyselective market with strict quality and quarantine regulations.Businesses should pay careful attention to ensuring quality beforeabroad.
The Vietnam Trade Office in Australiaadvised businesses to declare cargo status to the Australian Quarantineand Inspection Service (AQIS) immediately after harbouring at theforeign market.
Simultaneously, firms must ensure safety and quality standards to save accrued expenses.
Import demand from Australia is high; each year, the country spends around 80 billion USD on imports.-VNA
The Australian Ministry ofAgriculture approved litchi imports from Vietnam earlier this monthand as a result, a number of Australian authorities are preparing tovisit Vietnam to examine and agree on quality standards for thefruit.
In 2014, Vietnam’s farm produce and seafoodgrew by 17.5 percent annually among goods destined for Australia,making it the highest growing commodity.
Pepper saw ayearly increase of 52.5 percent while aquatic products recorded a riseof 20.7 percent to exceed the targeted 200 million USD.
Cashews witnessed a slight rise of 12.6 percent to dominate the Australian market with 96 percent of the market share.
Furthermore, processing and manufacturing industrial products also saw a 13.9 percent rise against the previous year.
Other commodities with high growth were iron and steel (121 percent);electric wire (80.4 percent); cement (255 percent); means of transportand spare parts (66.5 percent); garments and textiles (46.7 percent);footwear (30.6 percent); and wood and timber products (22.6 percent).
Currently, Australia is the eighth biggestimporter of Vietnamese products. In 2014, trade hit 6 billion USD, anannual rise of 18.8 percent, raking in 3.99 billion USD in exports andrunning a trade surplus of 1.93 billion USD.
According to the Vietnam General Department of Customs, export turnoverto Australia reached 742.8 million USD in the first quarter of 2015.Seafood, in particular, made up 59 percent of Vietnam ’s totalexport revenue.
However Australia is a highlyselective market with strict quality and quarantine regulations.Businesses should pay careful attention to ensuring quality beforeabroad.
The Vietnam Trade Office in Australiaadvised businesses to declare cargo status to the Australian Quarantineand Inspection Service (AQIS) immediately after harbouring at theforeign market.
Simultaneously, firms must ensure safety and quality standards to save accrued expenses.
Import demand from Australia is high; each year, the country spends around 80 billion USD on imports.-VNA
