The recovery of global demand has boosted Vietnam's exports, with the output of protective equipment increasing sixfold!

The Ministry of Industry and Trade ( MoIT) said global demand for commodities is recovering, which is an opportunity for Vietnam to increase exports of consumer and industrial products.

Vietnam's Ministry of Commerce predicts that Vietnam's import and export activities will continue to increase in the coming months as the Free Trade Agreement ( FTA) is gradually implemented in a more comprehensive and effective manner .

These agreements will continue to create conditions for Vietnamese goods to enter cooperative markets with preferential tariffs , including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership ( CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA) and the United Kingdom-Vietnam Free Trade Agreement (UKVFTA).

In addition, according to Vietnam's Ministry of Commerce, export prices of many commodities also tend to rise, especially Vietnam's major export commodities.

However, Deputy Minister of Industry and Trade Do Thang Hai said that import and export activities in many regions may be adversely affected by the COVID-19 epidemic, especially in the northern regions with the largest trade volume, such as Bac Giang, Bac Ninh and Hanoi.

At the same time, Asia remains a hotspot of the epidemic, with new cases increasing rapidly. Countries and regions such as India, Japan, Taiwan, Indonesia, and Thailand have introduced prevention and control measures.

According to data from the World Bank's International Finance Corporation (IFC), Vietnam's production of personal protective equipment (PPE) increased sixfold last year. In addition, the IFC said on June 9 that it is helping developing countries, including Vietnam, to produce personal protective equipment, aiming to provide high-quality and reliable products to frontline medical staff to help curb the spread of the new coronavirus .

Today, Vietnam is emerging as one of the new suppliers of personal protective equipment in the global market , and many clothing companies have switched direction to produce personal protective equipment to respond to the medical emergency and mitigate losses caused by order cancellations.

The company added that global demand for personal protective equipment such as medical masks, gloves, glasses, protective footwear, protective clothing and respirators increased three to four times during 2019-2020, and is expected to grow at an annual rate of 6 % to 9% until at least 2025.

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