Socialist Republic of Vietnam

Ha Noi, Apr. 15 (VNA) -- Viet Nam posted an average annual import-export turnover of USD 22.5 billion in the 1996-2000 period as compared to USD 7.5 billion in the 1991-1995 period.

The export proportion increased from 26.4 percent of the country's GDP in 1995 to 37.6 percent in 2000.

With per capita import-export turnover share of USD 180 a year, Viet Nam has escaped from the list of countries having underdeveloped trade.

The structure of export staples has positively changed with higher rate of processed goods and less raw and semi-processed materials. Many export staples have recorded export values ranging from USD 200 million to even more than USD 1 billion.

The country's trade and service businesses increased to 19,226 units last year from 10,806 in 1995. These businesses have expanded their operations to all parts of the country, including mountainous, remote and isolated areas. Particularly, the formation of a production-market model among trade businesses, the improvement of goods quality and the lower production cost have helped accelerate competition among trade businesses.

Viet Nam has diversified its trade relations with foreign countries and international organizations and sought new foreign outlets with its joining the Association of Southeast Asian Nations (ASEAN) in 1995 and the Asia-Pacific Economic Cooperation (APEC) Forum in 1998. It has became an observer of the World Trade Organization (WTO) and signed trade agreements with 60 countries across the world.

Its trade relations has been expanded 170 countries and territories from only 100 countries and territories in 1995.--VNA