The talks, aimed to prepare for next year’s export plan, focused on discussing measures to reduce trade deficit and boost export growth rate in 2008. Attendees included the Ministry of Industry and Trade, the Deputy Prime Minister Hoang Trung Hai and representatives of enterprises and business associations.

According to ministry experts, to achieve export growth of 20-22% in 2008 the Government should reduce costs for export enterprises. To help these businesses cope with risks, it was also vital to establish export insurance funds.

Representatives of business associations said that the Government should help train human resources and compile export plans for each group of export items and each consumption market.

Promoting trade would help increase exports and the State should focus expenditure on trade promotion in some key projects, Chairman of Viet Nam Textile and Garment Group Le Quoc An said.

Deputy Prime Minister Hoang Trung Hai added although export growth rate this year rose by 20.5% over 2006, it was still lower than the 2005-2006 growth rate (22.8%). He said ministries and sectors should hone in on export items that have growth rate lower than 20%, such as fisheries, vegetables and rubber. Trade promotion and market forecast was still not good enough, he added.

Export turnover rose by 20.5%, gaining $48bil, while import turnover was estimated to rise by 31%, gaining $59bil, the conference heard. This year’s trade deficit of $11bil might not fall in 2008 because the issue could not be solved in the near future, experts said. In view of this, Deputy Minister of Industry and Trade Nguyen Thanh Bien said plans to deal with trade deficit problem should be implemented immediately.

The nation also needed to develop production of raw materials and extra-materials to reduce imports, the deputy minister said.

The State should invest in producing domestic goods such as animal feed and encourage Vietnamese people to use more Vietnamese products instead of goods from abroad.