Dao Tran Nhan, Minister Counsellor for Trade and head of the Vietnam Trade Office in the US, said on the fringes of the recent trade counselors’ conference that Vietnam will run a trade surplus of US$20 billion with the US when its export is estimated to surpass the US$25-billion mark. 

The figure is significant as export to the US accounts for 20% of Vietnam’s total export, Nhan said.

About opportunities and challenges ahead, the counsellor emphasised that trade with the US is political trade.

Dealing with anti-dumping lawsuits and anti-subsidy issues, offering legal assistance and clearing bottlenecks for Vietnamese exports are a major part of his office’s workload.

He forecast that Vietnam’s export to the US will grow by some 10% in 2014.

To assist exporters to earn higher turnover and local negotiators in Trans-Pacific Partnership deal, Nhan said his office has informed the Ministry of Industry and Trade and concerned ministries and agencies about trade barriers imposed by the US as well as the country’s new policies on export.

It also made in-depth studies on new laws and disseminate them to the circle of business players on a regular basis, making them aware of technical barriers and others involved, he said.