Businesses in the southern province of Dong Nai have exported more than US$1.5 billion worth of products to the US since early this year, a year-on-year rise of 10%, with key products such as wood, bags, suitcases, hats, steel, coffee, pepper and seafood. Products with huge export values like footwear and garments grew by 4-10% against the same period last year.
However, the Ministry of Industry and Trade says the US legal system imposes many strict regulations on imported goods. In addition to common criteria, each state has its own regulations. Therefore, if Vietnamese businesses want to ship their products to the US, they must research the laws and regulations of individual states as well as the country.
Besides, the US will continue to protect its domestic goods by issuing new regulations on the quality and origin of products, particularly for agroforestry and seafood products, which causes a number of difficulties for goods exported from Dong Nai and for the whole country as well.
To avoid an overdependence on certain big markets, businesses in Dong Nai province are finding ways to expand to new markets, especially the countries Vietnam has signed free trade agreements with, to improve their competitiveness.
Duong Minh Dung, director of the provincial Department of Industry and Trade, says the province helps businesses keep traditional markets and supports them in market expansion to reduce risks due to an overdependence on certain markets.
Dong Nai has exported goods to 171 countries and territories around the world, including big markets such as the US, the Republic of Korea, Japan, China and Europe.