Việt Nam needs to establish a value chain for spiny lobster with a focus on meeting China’s requirements regarding the origin of seeds and farming process to export into this market.
Vietnam’s exports rose last month with positive growth in shipments of computers and machines, but trade prospects for the remainder of this year remain uncertain amid weak demands, lender HSBC says.
Việt Nam’s businesses need to more effectively exploit bilateral and multilatral free trade agreements to promote trade between the two countries, according to experts at a workshop held in Hà Nội on Thursday.
The first batch of 16 tons of “Dien” pomelos from Luong Son district, the northern province of Hoa Binh, was exported to the U.S. on December 5.
Experts at a conference in Ho Chi Minh City on December 6 stressed the need for both producers and exporters to change the mindset and approach to boost exports to China, a potential market for Vietnamese farm produce.
Vietnam’s trade in the first 11 months fell 8% to US$620 billion, its lowest point in three years, as factories scale down operations due to the ongoing shortage of orders.
Vietnamese firms should use additional caution to avoid increasingly sophisticated scams in international trade, Deputy Director of the Vietnam Trade Promotion Agency Hoan Minh Chien said.
According to the Ministry of Planning and Investment, in the first 11 months of 2023, the trade surplus was US$25.83 billion whereas it had been only US$10.3 billion in the same period last year. Export turnover of goods was $322.5 billion, while import turnover was $296.67 billion.
The Eurasia region, comprising 28 countries stretching from Eastern Europe to Central Asia with a population of more than 400 million and a total GDP of nearly 4.5 trillion USD, is considered a potential export market of Vietnam, according to experts.
Vietnam has become the second largest exporter of banana to China, behind only the Philippines, accounting for 28.2% of the total amount of bananas imported by the market, the Import-Export Department under the Ministry of Industry and Trade has announced.
Vietnam’s rice exports this year to the end of November hit a record high since 1989 with an export volume of nearly 7.8 million tonnes and turnover of 4.4 billion USD.
Vietnamese cashew exports during the 11-month period raked in US$3.31 billion, representing a rise of 23.1% in volume and 17.4% in value compared to the same period from last year, according to data given by the Ministry of Industry and Trade.
Seeking new markets, applying high tech, developing a cooperative economy, and building value chains will all improve the competitiveness of Vietnam’s farm produce in the world market, experts have said.
According to the latest statistics from the General Department of Vietnam Customs, the export turnover to the Netherlands reached US$925 million in October.
The Ministry of Industry and Trade (MoIT) and relevant ministries and sectors of Vietnam are ready to work with the Belgian side to effectively support cooperation activities between the two countries’ enterprises, Minister Nguyen Hong Dien told a bilateral business forum in Brussels on December 1.
Vietnam’s total import-export turnover surpassed the US$600 billion mark in the Jan.-Nov. period, reaching US$619.17 billion, with a trade surplus of US$25.83 billion.
Executive Vice President of the European Commission (EC) and EU Commissioner for Trade Valdis Dombrovskis said Vietnam’s rise to become the bloc’s leading trade partner in ASEAN is a vivid demonstration of the success of the EU-Vietnam Free Trade Agreement (EVFTA).
Overseas Vietnamese businesspeople in the United Arab Emirates want the Vietnam government to roll out incentive policies to reduce transport costs between the two countries.
China is the world’s largest durian market with expected value of $20 billion by 2025. There are four major rivals in the market and Vietnam is one.
The Ministry of Industry and Trade (MOIT) has submitted to the government a report about problems related to implementation of next-generation free trade agreements (FTAs).