Bilateral trade turnovers between Vietnam and the Philippines are now worth $7 billion, and there is still room to grow.

Industrial and manufacturing goods made up the majority of Vietnam’s exports during the two-month period.

Free trade agreements like CPTPP and EVFTA are driving Vietnam’s trading performance during a difficult economic year.

Vietnam’s export turnover may expand by 10% this year, exceeding the original target of 4-5% set by the Government.

Vietnam is in a favorable condition to take advantage of free trade agreements (FTA) that the country is a part of, as well as growing global demand in the late-year shopping season.

Vietnam’s trade outlook for the remainder of the year is projected to have intertwined challenges and opportunities, with the country’s efforts to contain the pandemic the most important factor.

Tightening imports of goods that Vietnam has abundant supplies is the right move, especially when the pandemic is wreaking havoc on the economy.