New trade agreements, as well as a push for value-added processing, should help sustain export growth in Viet Nam’s agriculture sector. The report, entitled “Transforming Vietnamese Agriculture: Gaining more from less”, suggests that the sector needs to boost value-added content and diversify its offerings to increase the country’s market access opportunities. The recommendations are timely, given that Viet Nam’s export market is expected to grow by some 500m people through the recent formation of the ASEAN Economic Community and the forthcoming EU-Vietnam Free Trade Agreement, to take effect in 2018. From primary production to processing As one of the mainstays of the Vietnamese economy, agriculture accounted for 17 per cent of GDP in 2014 and currently employs nearly half of the workforce. However, increasing urbanisation, which is forecast to reach 50% of the population within a decade, combined with a burgeoning middle class, is expected to result in a shift in consumption and employment trends in the sector. Employment in the primary agricultural sector is predicted to decrease from its current 47 per cent to between 25 per cent and 30 per cent by 2030, although much of this loss should be offset by a strong rise in jobs in… Read full this story
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