(VOVworld) – The Ministry of Trade and Industry reports that in the first three months of this year, Vietnam earned nearly 30 billion USD from exports, up 20% against last year.

2013 Exports Forum (Photo: Vinh Phong - VOV5)

The figure was released at the 2013 Exports Forum in Hanoi on Thursday, part of the 23rd Vietnam International Trade Fair. Exports growths were seen in most areas of hard currency earners, as well as in domestic and foreign investment sectors. Exports to potential markets including the US, EU, and ASEAN posted double digit growth rate. But Vietnam’s exports are considered unsustainable on a small scale. The main export items of foreign investment companies remain products which are based on low-labor-cost or processed products instead of those with higher added value. Do Thang Hai, Director of the Trade Promotion Department under the Ministry of Trade and Industry, said ‘Developing exports sustainably is a very important task for Vietnam, which is working to integrate into the world economy. It requires us to outline basic solutions for production development, economic restructuring with focus on increasing productivity, quality, and the value of export items. Proper policies for developing auxiliary industries, developing material zones in combination with production, processing, the conservation of exports, natural resource, and environmental protection should also be prioritized.’

Vietnam’s exports lack sustainability (Photo: Vinh Phong - VOV5)

Tran Thanh Hai, Deputy Director of the Exports and Imports Department, said that export companies should attach importance to trade promotion in addition to making full use of the Free Trade Agreement. Hai added ‘The most important thing is that Vietnamese exporters should carefully study the market, and update information to come up with relevant solutions. For example, it’s not new for Vietnamese exporters to sell products to the US as it often applies anti-dumping lawsuits. But for EU members, we need further study to be ready with quick and professional responses.’

Tapping preferential terms in free trade agreements will help Vietnamese companies improve their competitiveness. Vietnam has signed eight FTAs with other countries, whose demand accounts for 25% of total global imports.