Decision No. 950/QD-TTg dated July 25, 2012 of the Prime Minister promulgating the action program for implementation of the goods import and export strategy for the 2011-2020 period, with orientations toward 2030

ACHIEVING TRADE BALANCE BY 2020

On July 25, 2012, the Prime Minister signed the Decision No. 950/QD-TTg promulgating the action Program in implementation of the goods import and export Strategy for the 2011-2020 period, with orientations toward 2030.

The major objective of the Program is to gradually reduce trade deficit and keep it at about 10% of the export value by 2015 and achieve trade balance by 2020. Besides, the Program also tend objectives to achieve the average goods export growth rate of 11-12%/year and the average goods import growth rate of 10-11%/year during 2011-2020. The Prime Minister proposed some major tasks to develop manufacture, restructure economy, develop market, promote trade as well as complete the policy on commerce, finance, credit and investment in development of manufacturing export goods…. to relevant Ministries, branches.

Specifically, intensifying use of goods have been manufactured domestic to contribute in trade deficit restraint; forming roadmap of negotiation, agreement on governmental-level trade exchange aiming to reasonably improve trade balance with trade partners suitable to domestic demand and production level and international commitments; investing and upgrading transport infrastructure works, warehouses and storage yards at big seaports and customs clearance sites for imports and exports to satisfy demand of import and export through 2020, with orientations toward 2030; formulating incentive policy applying to multinational corporations, big enterprises in the world to invest in industry…

In addition, relevant Ministries and branches have the responsibilities to organize implementation of the Program, to administer operation of the Program and implement projects, the specific tasks assigned by the Law.