Vietnam’s Trade Ministry has set an ambitious target of nearly $6 billion for exports to the European Union in 2005, a 20% increase on last year’s figures. Between $1.4 billion and $1.5 billion is expected to be generated by textile exports, up by 50% from 2004, and $2.3 billion is to come form the combined exports of leather and footwear, up by 20-25% from the previous year.

In order to achieve the target Vietnam plans a greater penetration of its current European markets - Germany, UK, France, Belgium and the Netherlands – but also an expansion to new member markets including Poland and the Czech Republic, where trade talks are already being held.

Other large exports scheduled for 2005 include seafood, wood products, agricultural products and modern goods such as mechanical products, electric components and software.

The Ministry of Trade has also released figures for its January exports to the USA which show a value of $537 million, a 42.1% rise form the same period last year, and make Vietnam the seventh largest textile exporter to the country.

Share this story: