Despite unprecedented challenges from the Covid-19 pandemic, bilateral trade turnover in 2020 rose by 6.6% year-on-year to US$5.1 billion.

Vietnam’s participation in a wide range of free trade agreements is set to open new doors for further economic growth, according to Nikkei Asia.

Vietnam trade policy is on right track with record high of US$544-billion turnover in 2020, in which e-commerce is an inevitable trend for local firms to access markets and increase trade value in the coming time.

The portal is a way the Vietnamese government support local enterprises and people in approaching the free trade agreements to which Vietnam is a signatory.

Mexico, Chile and Peru were three countries that Vietnam recorded the highest trade surplus in the Latin American in 2019.

In a difficult year amid the Covid-19 pandemic, exports remain a spotlight and lay a foundation for the economy to maintain its growth momentum coming into the next year.

Vietnam’s trade turnover is expected to hit $540 billion this year, marking a year-on-year increase of $23 billion.

Minister of Planning and Investment Nguyen Chi Dung outlined five major solutions for Vietnam to realize its socio-economic development goals in 2020.

Hanoi is estimated to record an economic expansion of 4% in 2020, significantly higher than the national average of 2.5 – 3%.