In the first 9 months of 2024, import-export turnover between Vietnam and ASEAN reached 61.7 billion USD.

According to the latest data from the Department of Asian - African Markets (Ministry of Industry and Trade), in the first 8 months of 2024, Vietnam's total import-export turnover with the ASEAN market reached 54.9 billion USD, up 12.6% over the same period in 2023. It is estimated that in the first 9 months of 2024, the total two-way import-export turnover will reach 61.7 billion USD, up 13.3% over the same period in 2023.

In the past 8 months, Vietnam's exports to ASEAN countries reached 24.7 billion USD, up 12.7% over the same period in 2023. Exports to most markets in the region grew strongly, such as: exports to Brunei increased by 568%, Singapore 33.5%, Indonesia 23.7%, Laos 20.7%, Thailand 7.3%... Exports to Myanmar market decreased by 36.7%...

On the contrary, in the first 8 months of 2024, Vietnam's import turnover from the ASEAN region reached 30.2 billion USD, up 12.5% ​​over the same period in 2023. Imports from all markets increased, including Brunei (252%), Laos (25.7%), Cambodia (28.5%), Malaysia (22.5%)...

It is estimated that in the first 9 months of 2024, the total two-way import-export turnover between Vietnam and the ASEAN region will reach 61.7 billion USD, an increase of 13.3% over the same period in 2023. Illustrative photo

Notably, according to information from the Ministry of Foreign Affairs, ASEAN continues to be an economic bright spot with growth forecast at 4.6% in 2024 and 4.8% in 2025, far exceeding the world average.

In order to strengthen connectivity and linkages among economies, ASEAN is determined to accelerate negotiations on agreements both within the bloc and between ASEAN and its partners, such as upgrading the ASEAN Trade in Goods Agreement, negotiating the ASEAN Framework Agreement on Competition, promoting the basic completion of negotiations to upgrade the ASEAN-China Free Trade Agreement, and completing the procedures for approving the Second Protocol amending the ASEAN-Australia-New Zealand Free Trade Agreement.

Many cooperation frameworks have been promoted, demonstrating ASEAN's proactiveness in grasping and exploiting new growth drivers such as the negotiation of the ASEAN Digital Economy Agreement, the Framework Agreement on the ASEAN Power Grid, the ASEAN Action Plan on Sustainable Agriculture, the Roadmap on ASEAN Digital Trade Standards, etc. Cooperation between ASEAN and its partners in these fields has also been promoted, contributing to deepening and making economic, trade and investment relations and connections more and more practical.

Not only that, in recent years, cultural and social cooperation has been strengthened, focusing on responding to emerging challenges such as climate change and the environment, focusing on vulnerable groups with many meaningful activities such as the 3rd ASEAN Women Leaders Summit on promoting the care economy, the ASEAN Children's Forum, prioritizing strategic restructuring to narrow the development gap...

Promoting the spirit of “ASEAN: Promoting connectivity and self-reliance”, ASEAN under the leadership of Laos as ASEAN Chair 2024 has achieved many positive results in the process of building the Community on the basis of implementing the 2025 master plans on all three pillars: Politics-security, economy and culture-society, consolidating the foundation and creating momentum for the next development stage of the Association, towards the goals of a self-reliant, dynamic, creative and people-centered Community, closely connected, with deeper cooperation by 2045.

From October 8-11, 2024, Prime Minister Pham Minh Chinh and a high-ranking Vietnamese delegation paid a working visit to Laos to attend the 44th and 45th ASEAN Summits and related Summits in Laos at the invitation of Prime Minister of the Lao People's Democratic Republic, ASEAN Chair 2024 Sonexay Siphandone.

The working delegation of the Ministry of Industry and Trade led by Minister Nguyen Hong Dien accompanied Prime Minister Pham Minh Chinh to attend the 44th and 45th ASEAN Summits and related summits. The working delegation of the Ministry of Industry and Trade was attended by representatives of the leaders of the Departments, Divisions and functional units in the Ministry: Multilateral Trade Policy Department, Asia - Africa Market Department, Institute of Mechanics, Office of the Inter-sectoral Steering Committee for International Economic Integration, Ministry Office, Industry and Trade Newspaper...

In addition to the Prime Minister's activities, it is expected that Minister of Industry and Trade Nguyen Hong Dien will also have bilateral meetings and exchanges on the sidelines of the working trip.

Source: https://congthuong.vn/9-thang-nam-2024-kim-ngach-xuat-nhap-khau-giua-viet-nam-voi-asean-dat-617-ty-usd-351060.html