VINACHEM

Vietnam aims to boost exports growth to at least 12% for the remainder of 2025 as part of its aim to reach its GDP growth target of 8.3–8.5% in 2025.

To that end, the Ministry of Industry and Trade has been tasked to implement existing trade deals and sign new Free Trade Agreements (FTAs) globally to open up new export markets, said Prime Minister Pham Minh Chinh in a statement on 24 September.

Two upcoming FTAs involving Latin American bloc Mercosur and the Gulf Cooperation Council (GCC) are expected to be signed in the fourth quarter of 2025.

Mercosur is made of Argentina, Bolivia, Brazil, Paraguay, and Uruguay, with Venezuela currently suspended, while the GCC includes Mideast nations such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.

Negotiations with the US on the reciprocal trade agreement, first mooted in July ahead of 20% ‘reciprocal’ tariffs implemented on 7 August, have also been tasked to continue.

Vietnam has also been slapped with a 40% ‘transshipment’ levy for goods suspected to be routed through the country from other nations.

As of mid-September, Vietnam’s total trade turnover for the year reached $637.2 billion, up by 17.2% year on year.

Exports grew by 15.8% year on year to $325.26 billion, while imports hit nearly $312 billion, up by 18.8%, resulting in a trade surplus of $13.3 billion, according to government data.