MIC focuses on developing economic and trade cooperation in 2025
This year, the international, regional and national situation is expected to continue to evolve in complex ways, affecting production and business affairs of enterprises.
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| Vietnam’s main export products to the Euro-US market in 2024 have all seen impressive recovery and growth compared to 2023. |
| Photo : VNA/CVN |
Therefore, the Department of European and American Markets (Ministry of Industry and Commerce – MIC) strengthens its study of the situation and political fluctuations of countries in the region to be able to offer advice and appropriate and feasible policy responses. In addition, this Department will conduct market studies and explore opportunities for economic and commercial cooperation.
In particular, this Department promotes the effective implementation of Free Trade Agreements (FTAs), existing cooperation mechanisms with countries in the region, seeks upgrading and signs FTAs with potential markets… plays a good bridging role connecting national and foreign companies.
Evaluating the development of the Euro-American market, Ta Hoang Linh, director of the said Department said that in 2024, this department has coordinated with domestic and foreign agencies to put forward many solutions and practical activities to support businesses to restore production, promote imports and exports and protect the interests of Vietnamese businesses on the international stage.
Impressive recovery and growth
According to MIC statistics, in 2024, the import and export turnover between Vietnam and the Euro-US market saw a strong recovery compared to 2023. The total import and export turnover of last year was estimated at around 250 billion USD, an increase of 18.5% year-on-year. The trade surplus surpassed the $150 billion mark for the first time, reaching more than USD 154 billion.
In particular, Vietnam’s top export products to the Euro-US market in 2024 all saw impressive recovery and growth compared to 2023, such as computers, electronic products and components, estimated at 34.6 billion USD (+39.7%); machines, equipment, tools and other spare parts estimated at 33 billion USD (+24.4%), textiles and clothing, 23.4 billion USD (+12%)…
VNA/CVN
Swiss
