2020 is a challenging year for the global economy, but Vietnam, which has made continuous progress in economic growth in recent years, still sets a higher economic goal for 2020. According to news from the Vietnamese media on the 27th, Vietnam ’s agricultural sector has set its export target for agriculture, forestry, and aquatic products in 2020 at 42 billion US dollars (about 290 billion RMB), which is equivalent to a year-on-year increase of 1.7%.
Vietnam is a traditional agricultural country, with agricultural population accounting for nearly 75%. Therefore, agricultural exports occupy an important position in the country’s economy. However, it is worth noting that the Ministry of Agriculture of Vietnam also acknowledged that there were still deficiencies in the agricultural sector, including the decline in prices of major agricultural products and the slowdown in the growth of agricultural exports. Among them, improving the decline in exports to China has undoubtedly become Vietnam’s most urgent task at present.
As we all know, China is the main buyer of Vietnam’s agricultural products, but in the past 2019, Vietnam’s overall exports to China were 41.41 billion US dollars, an increase of only 0.36% year-on-year, compared with 22% in the first 11 months of 2018. The growth rate of Vietnam ’s exports to China is clearly slowing down rapidly.
In fact, in 2019, due to the increase in China’s import standards, the export volume of fist products such as Vietnamese rice and dragon fruit to China did fall sharply one after another. Among them, the decline in Vietnamese rice once reached 74%. In addition, China also blacklisted 15 substandard Vietnamese aquatic products companies last year, which is equivalent to canceling its export qualification to China.
With the successive reductions in purchases by Chinese buyers, Vietnam ’s agricultural exports have naturally suffered a lot. According to Vietnamese media reports, in order to achieve the $ 42 billion agricultural export target of 2020, the Vietnamese Ministry of Agriculture is currently “making adjustments”, such as building farming areas that meet high food safety standards and strengthening interconnection with export markets such as China. It is reported that Vietnam also issued an appeal to the Chinese market, hoping to create convenient conditions for Vietnamese agricultural exports to China.
However, although Vietnam is actively seeking the favor of Chinese buyers, at the same time, Vietnam has increased fees for many products made in China, and after promising to import electricity to China, Vietnam has handed over power orders to Laos. on. From this point of view, if Vietnam wants to expand its export advantage to China, it is likely to show more sincerity in cooperation and win-win results.