Municipal planners in the capital set ambitious export targets for Hanoi to major markets: the US, Japan, China, the EU, Africa and West Asia in an attempt to boost export turnover in 2010.

Ha Noi saw a decrease in imports and exports in 2009 compared with 2008.

The new targets aim for US$6.68 billion of exports by the end of the year, up 5 per cent from 2009, according to the municipal Department of Industry and Trade.

Export of textiles, garments, shoes and handicrafts to the US and the EU were identified as potential drivers of increased export turnover.

Trade between Viet Nam and these markets was expected to boom with the conclusion of the fifth round of trade negotiations between Viet Nam and the EU, the department added.

Regarding the Japanese market, Ha Noi was taking full advantage of the Viet Nam-Japan Economic Partnership Agreement to increase exports of textiles, garments, seacooking and agricultural products.

Exports of machinery, clothing, wooden furniture, shoe and coal to New Zealand have been prioritised by the department along with exports of textiles and garments, computers and wooden furniture to Australia.

The ASEAN-Australia-New Zealand Free Trade Area has removed at least 90 taxes and offered various incentives for exporters to these markets.

Ha Noi saw a decrease in imports and exports in 2009 compared with 2008. Export turnover decreased by 7.8 per cent, with marked declines in commodities such as rice (40 per cent), handicrafts (15 per cent) and coal (21.5 per cent).

Imports also decreased by 17.4 per cent on 2008. Steel, chemicals, oil and petrol imports were the most heavily hit with average decreases of 30-40 per cent.

VietNamNet/VNS