Exports to US lack competitiveness

Raising the competitive edge of Vietnamese exports to the US market was high on the agenda at a seminar held in HCM City yesterday.

The seminar was conducted by the Ministry of Trade and Industry in conjunction with the Viet Nam Chamber of Commerce and Industry.

Economists attending the seminar said that some commodity groups capable of competing in the US market included apparel, furniture, bags, wallets and umbrellas, fishery products, footwear alongside added-value industrial items such as machinery equipment and spare parts.

Low competitive items included knitwear and luxury apparel, which due to being poorly designed and of bad quality, have been failing to satisfy US consumer taste.

New commodities which have not yet been able to break into the US market include medical equipment, screens and projectors, accounting for only 0.001 per cent, circuits (0.003 per cent), automobile and motorcycle spare parts (0.16 per cent).

Nguyen Duy Khien, Director of the American Market of the Ministry of Trade and Industry, said that Vietnamese exports to the US had not increased due to continued focus on traditional commodities, which face considerable competition from Chinese goods.

China has surpassed Canada in becoming the largest exporter to the US. Items that Viet Nam has shown interest in exporting to the US, including textiles, footwear, furniture, electronics and toys, have mostly been covered by China, he said.

Since 2011 will continue offering challenges in terms of Vietnamese exports to the US, enterprises have up their efforts in research and improving product design while building long-term strategies aimed at boosting export performance in the US market.

Concrete and effective measures need to be implemented in support of export activities while further developing production and increasing competitiveness.

The ministry was called on to assist Vietnamese businesses in increasing trade negotiations alongside the expansion of markets while enhancing trade promotion activities. — VNS

Tags: Vietnam exports to US