Vietnamese Export Markets, Structural Adjustment, Free Trade Trend

With the global trade liberalization, the export market structure has become a major obstacle in the development process of Vietnam's export. It also has attracted the Vietnam government's attention gradually. But for no effective strategies exist in adjusting export market structure until now, article aims to get some useful and feasible proposals or measures for government decision making through analyzing the Vietnam export situation.Firstly, the adjustment process of Vietnamese exports will be divided into 4 main stages; each stage performance will tell us what problems exist in the adjustment process controlled by Vietnam government. Secondly, by combing the specific situation of Vietnam and the factors of export market structure, article will build a gravity model with four variables to simulate the fact. The results show that the importing country's gross domestic product is the most important factor, which have greatest impact on Vietnam's export market structure and there are positive relationships between them. The second is the distance factor. As the value of goods for Vietnam export is very low and the competitive advantage mainly comes from the cheap price, the transportation and insurance caused by distance will be easy to weaken this advantage. That is why it's difficult to extend the export market to distant place for Vietnam and it hinders the process of export markets diversification in Vietnam. The tariffs and per capita income of importing country income have little affect on the Vietnam's exports, but non-tariff barriers in importing countries are becoming important increasingly. This is because the new non-tariff barriers which replace the traditional barriers are technical barriers, but the export good from Vietnam are low-tech, the non-tariff barriers will make a great obstacle for Vietnam's export growing. In addition, the Vietnam's export promotion policy has some effect on export performance too. Because Non-tariff barriers and export promotion policies are non-quantifiable factors, they can not be included in the gravity model and this article is going to analyze them separately.In reality, the restructuring of the export market should be a gradual process, so it is very important to maintain the stability of this process. Article will not only propose some suggestions and measures which are benefit for improving the market diversification based on the various export factors and present export market situation, but also need to secure and penetrate these major markets constantly. Therefore, Vietnam's major export markets should be discussed alone and get accordant export promotion measures.