Hanoi (VNA) - Vietnam’s exportvalue to the US reached 4.89 billion USD in August, the highest levelsince January this year, according to the General Department of Vietnam Customs.

This figure rose 15 percent against that in Julyand 24 percent compared with that in August 2017. This was the thirdconsecutive month the export value exceeded 4 billion USD.

Most of Vietnam’s major export products tothe US maintained a positive growth rate over the same period lastyear, including textiles, telephones, footwear, wood and wooden products,machinery and equipment.

Despite the rising US-China trade war, expertsare still positive about the outlook of local exports to the US. Accordingto the Ministry of Industry and Trade, so far, the structure of imports andexports between the US and Vietnam has not changed overall.

Vietnam mainly exported seafood, textiles,footwear, wood and wood products, computers, electronic products and components,and agricultural products to the US.

Meanwhile, it imported machinery, computers,electrical components, cotton, animal food and materials for animal foodproduction, soybeans, machinery, equipment and tools.

According to local trade experts,the US will remain the key export market for Vietnam in thefuture. This is a large and high-potential market but also a very demandingone, so local exporters need to improve their competitive ability in businessand cooperate with each other in the supply chains for success in exports tothis market.

In addition, some commodities such as seafoodand agricultural products have faced strict regulations and standards forimported products. To meet the requirements, firms will have to increaseproduction costs, thus losing competitive advantage in the short run.

However, for the long term, those obstacleswould be factors forcing local enterprises to implement food safety standards,improving quality and competitive ability of their export products on the worldmarket, according to the experts.

The Ministry of Industry and Trade hasencouraged Vietnamese enterprises to jointly build up a supply chain forexporting to the US market, thereby creating added value for exportgoods. It would also support the enterprises in developing this supply chain.-VNA