HANOI - Vietnam is
likely to earn US$4.5 billion from exports to
Japan by year-end, 18% more than last year's
figure or 14.5% of the country's total export
turnover, according to the Vietnamese Commercial
Office in Japan.
With this growth rate,
two-way trade between Vietnam and Japan during the
2006-2007 period is expected to reach over $10
billion per year. Besides crude oil and minerals,
Japan remains a potential importer of many other
Vietnamese goods, including
textile and garments,
seafood, furniture and footwear, with focus placed
on frozen shrimps.
Since 2004, Vietnam's
frozen shrimp exports to Japan have fetched around
$500 million per year, making up nearly 23% of
Japan's total frozen shrimp imports.
Vietnam has also seen increasing demand
among Japanese customers for its furniture
products. In the past nine months, furniture
exports to Japan earned $127 million, representing
a year-on-year rise of 117%.
Additionally,
Japan has showed much interest in diversified
products of Vietnamese flowers. Seeking to
increase the potential growth avenues for
Vietnam's flower exports, a Japanese mission,
including representatives from over 200
businesses, was sent to Vietnam during the Da Lat
Flower Festival.
Annually, Vietnam's
flower export turnover to Japan stood at about
$6.2 million, accounting for 1.4% of Japan's total
flower imports. To boost exports to the Japanese
market, Vietnamese businesses need to further
study the market and seek more trade opportunities
with new customers, said the Commercial Office.
To this end, a trade promotion program,
focusing on marketing assistance, pattern design
and sales technique consultancy for Vietnamese
exporters, especially the handicraft sector, is
being jointly organized by the Vietnamese Trade
Ministry and the Japan External Trade
Organization.
