Exports Of Clothing And Textiles Reached 5 Billion 300 Million US Dollars In The First Half Of Vietnam.

In response to the corresponding government's call, the annual import volume dropped to US $80 billion 200 million, a decrease of US $4 billion 800 million over the initial plan. The Ministry of industry and Commerce of Vietnam is trying to reduce its monthly imports to below US $1 billion in the second half of this year.

If this goal is achieved, the import volume in 2008 is expected to be $20 billion, which is 30% of the total export volume.

Bui Xuan Khu, Vice Minister of industry and commerce, said at a conference that the way to expand exports and reduce imports is to stabilize the market and balance the supply and demand of commodities.

He said that the world is changing rapidly, and the Ministry of industry and Commerce pays great attention to the quality of forecasting.

The Ministry increased the quality inspection of imported products and reduced imports through technical barriers.

In addition to reducing imports, Vietnam's export target in 2008 was $61 billion, an increase of 26% over 2007.

According to the Ministry of Commerce and industry forecast, the first half of this year, the national crude oil exports 6 billion US dollars.

Textile exports amounted to $5 billion 300 million, seafood and shoes exported $2 billion 200 million, and wood products exported to US $1 billion 600 million.

In order to support exports, the government allowed 100% foreign-funded enterprises to establish fabric supply centers in order to enhance export competitiveness.

The deputy minister said that from now until the end of the year, the Ministry of industry and Commerce will form a team to quickly solve the difficulties faced by import and export enterprises, with members from customs, banks and financial institutions.