May 4, 2012

Vietnam's January-April agro-forestry, fishery exports slightly down

As compared to last year, Vietnam's agro-forestry and fishery exports in January-April decreased slightly to US$8 billion, according to the Ministry of Agriculture and Rural Development.

In April alone, export turnover had reached US$2.1 billion, the ministry said. Director of the ministry's Statistics and Information Centre, Nguyen Viet Chien, said the slight decline was a result of the economic slowdown, especially in the EU, a major trading partner for Vietnamese companies, reports by a news agency.

During the first four months of the year export revenue for agricultural products was at US$4.6 billion, an on-year decrease of 6.6%. Meanwhile, fisheries have brought the country US$1.9 billion in revenue, up by 16.4%, and forestry products have earned US$1.5 billion, up by 23.8% in comparison with the same period last year.

To boost agro-forestry and aquaculture products, the Ministry of Agriculture and Rural Development urged the companies to widen their business promotion programmes in order to find new markets.

Also, the ministry will focus on developing three key products including aquaculture, livestock breeding and forestry. Accordingly, the ministry will find out and develop high-value tree plantations.

Furthermore, to help domestic companies, the State Bank of Viet Nam has encouraged the Bank for Agriculture and Rural Development to increase access to loans for the industry.