US considers Vietnam its potential market

The US Department of Commerce (DOC) has added Vietnam to its list of “next tier” market where businesses have increasing opportunities in five years.

The information was affirmed by the Geneva-based Vietnam Mission to the United Nations, the World Trade Organization and other international organizations.

The mission cited the US 2011 National Export Strategy, saying that the five markets are Colombia, Indonesia, Saudi Arabia, Turkey, and Vietnam.

The strategy focuses on enhanced export promotion, including trade missions and commercial advocacy activities; increased export financing; technical assistance; and market development to create optimal policies and regulations in the Next Tier markets to drive growth in key and emerging sectors, such as clean energy.

In addition, the US will try to reduce trade barriers for US businesses operating in these markets.

According to the DOC, the country’s export revenues rose 17 percent against 2009 to reach US$1.84 trillion, the highest increase in 20 years. – VOV

Posted by VBN on Jul 1 2011. Filed under Int'l Cooperation, Investment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry