Commodity import and export strategy to 2030: Important highlights

Imprints of the Commodity Import-Export Strategy for the period 2011-2020

Looking back at 10 years of implementing the Commodity Import-Export Strategy for the period 2011-2020, Vietnam's import and export activities have achieved impressive achievements, making important contributions to the renewal and development process. economy of the country.

The scale of import and export of goods is constantly expanding and increasing, greatly contributing to the implementation of the socio-economic development strategy, and at the same time increasing Vietnam's position and influence in the international arena. . In the period 2011-2020, the total import and export turnover of goods increased 2.7 times, from 203.6 billion USD in 2011 to 545.3 billion USD in 2020.

Import and export of goods has been the bright spot of the economy in recent times

The average growth of commodity export turnover reached 14.6%/year. In terms of export scale, if in 2011, Vietnam was in 41st position, then by 2015 it has risen to 32nd position and by 2020 it is 22nd. Regarding import scale, in 2020 Vietnam has ranked 19th in the world compared to 33rd place in 2011.

The area of export products is increasingly diversified and abundant. The number of items with export turnover of 1 billion USD or more has increased over the years: in 2011, there were 21 items with export turnover of over 1 billion USD; 2016 increased to 25 items; by 2020 is 31 items. From 2016 until now, the trade balance has always been in a surplus position.

However, besides the achieved results, the import and export activities of goods in the period 2011-2020 still have some shortcomings and limitations: Export growth is high but not sustainable when the export market structure, imports are still slow to move, the bilateral trade balance with a number of large markets is not reasonable; The economy has not fully exploited its export competitive advantages, relying on technology, labor qualifications, management, etc. to create export groups with high competitiveness, high scientific and technological content. .

Towards sustainable import and export

Overcoming those limitations, the Import-Export Strategy for the new period aims to pay due attention to the growth quality and sustainability of import-export development.

The strategy for import and export of goods until 2030 was issued in Decision No. 493/QD-TTg dated April 19, 2022 by the Prime Minister, thoroughly grasping the Party's socio-economic development guidelines and policies in the future. In the new period, paying attention to new trends in international economy and trade such as green economy, digital economy, circular economy...

The Strategy has many important highlights, both in terms of viewpoints, goals, orientations and solutions to implement the Strategy. Specifically, the Strategy mentions 3 points of view, corresponding to factors related to import and export development: growth quality; growth drivers and growth methods and orientations.

Specifically, the Strategy perspective emphasizes the need for sustainable export development, and at the same time specifies factors to achieve sustainability: structural harmony, trade balance, short-term and long-term goals term, on social justice, on environmental protection. The strategy also mentions that green trade and fair trade are the concerns of developed countries around the world.

The view on export and import development is associated with new driving forces: digital economy, green economy, circular economy and innovation.

The strategic perspective identifies the role of sectors and localities in promoting the comparative advantages of sectors and localities, effectively exploiting opportunities and limiting challenges in implementing commitments to international economic integration. .

The strategy sets the general goal of "Sustainable development of import and export with a balanced and harmonized structure, promoting competitive and comparative advantages, developing the brand name of Vietnamese goods, enhancing the position of countries in the global value chain, is the engine of rapid and sustainable economic growth”. It can be seen that, compared with the Import-Export Strategy for the period 2011-2020, the Strategy target does not set specific numerical targets but identifies the goal of sustainable import and export development and is the driving force of economic growth. fast and sustainable.

For specific goals, in addition to the goals of export and import growth in terms of scale and the target of the trade balance, the Strategy adds targets on the structure of exports, the structure of export markets. Import and export to concretize the view of sustainable import and export development on the basis of harmonization of commodity structure, market structure and trade balance with each market and market area.

In addition, the Strategy also identifies three major orientations on commodity export, commodity import and export and import market development.

Specifically, the supplementary strategy orients the development of the import market for goods, putting it on a par with the task of developing the export market for goods.

Regarding the general orientation of commodity exports, the Strategy on orientations for sustainable export development, promoting comparative advantages and transforming the growth model into a rational in-depth; attach importance to the issue of efficient use of resources, protection of the ecological environment and good settlement of social problems.

As for the export sector orientation, the Strategy does not specifically mention the orientation of fuel and mineral products (currently accounting for only 1% of export turnover), instead adding the orientation "Discouraging the development of export products". develop production and export of products that are resource-intensive and cause environmental pollution; focus on investment and development of export of green and environmentally friendly economic products.”

New points in the solution to implement the Strategy are also indicated. Accordingly, in terms of solutions, the Strategy focuses on 6 main groups of solutions with many new points compared to the Import-Export Strategy for the period 2011-2020:

Accordingly, to develop production (including industrial and agricultural production), to create a sustainable supply for export. In the content of agricultural production development, the new point is "Promoting the role of the locality in selecting suitable agricultural products to form a concentrated production area according to the planning; develop a strategy to develop key products, featured agricultural products, develop brands along with quality and food safety standards that meet international standards.”

Developing export and import markets, ensuring sustainable growth in the long term. In particular, the new point is the import promotion solutions and the consideration of gradually lowering protective barriers to put pressure on domestic manufacturing enterprises to improve economic efficiency, reduce costs, and compete with imported goods. import; innovate and diversify trade promotion methods for import and export through promoting the application of information technology and digital transformation.

Improve institutions, strengthen state management in the organization of import and export activities in order to facilitate trade, combat trade frauds and aim for fair trade. This is a new group of solutions compared to the 2011-2020 Strategy.

Mobilize and effectively use resources for export development, upgrading logistics infrastructure, and reducing logistics costs. Among the resources for export development, the Strategy focuses on the quality of human resources to meet the requirements of economic development in general and import-export activities in particular.

Accordingly, supplementing the solution: "Building and perfecting the output standards of intermediate and college level for human resources in industries and professions producing export goods in the direction of approaching the standards of developed countries in the world. gender. Strengthening the connection between vocational education institutions and manufacturing and exporting enterprises from the stage of program development, training organization, assessment and job creation.”

Manage and control imports to meet the needs of domestic production and aim for a healthy and reasonable trade balance. Accordingly, the Strategy adds solutions on import promotion from a number of key partners, instead of just in the direction of import management and control, limiting the trade deficit as in previous periods.

Enhancing the role of industry associations and nuclear enterprises, promoting the formation of large-scale export value chains. The new point of the solution group is that the role of nuclear enterprises is mentioned and focused on.

Based on the objectives, orientations, solutions and groups of solutions of the Strategy, the Prime Minister assigned the Ministry of Industry and Trade to coordinate with ministries and branches in formulating an action plan to implement the Strategy, which identifies Specifically, the contents and tasks of the ministries, branches, agencies, completion time and resources for implementation, promulgated at the beginning of the third quarter of 2022./.