Hanoi (VNA) - A recentresearch by Standard Chartered has listed Vietnam among the 13 markets drivingfuture trade growth, and with its enhanced integration into the global economy,the country is holding numerous advantages for bolstering export, the CongThuong (Industry & Trade) newspaper said.

In its research, titled “Futureof Trade 2030: Trend and markets to watch”, the bank forecast Vietnam willrecord an average annual exports growth rate of 7 percent to earn 535 billionUSD in revenue in 2030.

Notably, up to 41 percent ofthe global firms surveyed by Standard Chartered are operating in Vietnam orplanning to invest in the country in the next five to 10 years.

The US and China will remain the largest export markets ofVietnam, respectively accounting for 26 percent and 19 percent of the SoutheastAsian country’s total exports by 2030. Meanwhile, shipments toIndia are also projected to grow fast, by 11 percent annually between 2020 and2030.

With growing internationaltrade, Vietnam is emerging as an important production base. The sectors withgreat contributions to exports from now to 2030 include machinery - electricalequipment, textile - garment, and agriculture - food, respectively making up 40percent, 21 percent, and 15 percent of total exports.

Cong Thuong cited experts assaying that with an abundant workforce, the proximity with large supply chains,and open policies for foreign direct investment, Vietnam is establishing itselfas a production hub of the world and attracting foreign enterprises.

The enhanced integration intothe global economy via free trade agreements (FTA) like the EU - Vietnam FTA,the UK - Vietnam FTA, the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP), and the Regional Comprehensive EconomicPartnership (RCEP) is giving the country numerous advantages for boostingoverseas shipments.

In the first 11 months of2021, Vietnam recorded 299.67 billion USD in exports and 299.45 billion USD inimports, respectively rising 17.5 percent and 27.5 percent year on year, accordingto the General Statistics Office.

Given this, total tradeturnover this year will surpass 600 billion USD, a demonstration of tirelessefforts by the Government, ministries, sectors, localities, and businesses toweather COVID-19 impacts, according to the newspaper./.