Exports to Japan to face difficulties

Seafood exporters were the most worried because Japan was Vietnam’s largest importer of shrimps.

Many Vietnamese businesses are worried about the decrease of export turnover to Japan, the country’s third largest importer while it is suffering from serious damages caused by the recent earthquake and tsunami.

General Director of Sai Gon 3 Garment Company, Pham Xuan Hong, said that there would be changes in demand for garments in Japan in the near future, especially with more expensive products.

He added that the level of loss would not be considerable because most of the Vietnamese products were at average prices.

Le Van Tri, deputy director of the Southern Rubber Industry Company (Casumina), also admitted that export turnover to Japan this year was unlikely to register strong growth. He said that every month, Casumina exported 600,000-700,000 USD of products to Japan.

Seafood exporters were the most worried because Japan was Vietnam’s largest importer of shrimps.

According to Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Processors, the recent disasters were certain to affect Vietnam’s exports, especially seafood, because most of these products were sent via a port near Tokyo – the area heavily damaged by tsunami.

“It is hard to determine the number of contracts that Japan will adjust, including batch of goods that are likely to be refused”.

According to the Ministry of Industry and Trade, Vietnam’s exports to Japan reached 4.8 billion USD last year, a year-on-year increase of 24 percent.

Among electric and cable wires, equipment and aquatic products, garment exports gained the highest revenues of 1.1 billion USD.

Source: Vietnam Plus


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: