Trade

Vietnam and Russia target two-way trade value of US$10 billion by 2020 - Photo: tapchitaichinh.vn Statistics released by the General Department of Vietnam Customs showed that in the first two months of 2018, Vietnam-Russia trade reached US$657.7 million. Russia spent US$343.4 million purchasing Vietnamese products, including phones and spare parts, coffee, computers, electronic products, garments and aquatic products. As compared to the same period in 2017, the strongest export growth was recorded by ceramic products (119.6 percent), followed by cashew nuts (95.6 percent) and steel (82.6 percent). Meanwhile, Vietnam disbursed US$314.2 million to import commodities from Russia, including US$73.5 million for wheat and US$71 million for steel. After the Vietnam-EAEU trade deal came into force, two-way trade between Vietnam and Russia enjoyed robust growth with a year-on-year increase of 25.4 percent to US$2.7 billion in 2016 and a rise of 30 percent to US$3.6 billion in 2017. Vietnam … [Read more...] about Vietnam-EAEU trade deal pushes exports to Russia

At the event (Photo: VNA) Hanoi (VNS/VNA) - The Japan External Trade Organisation (JETRO) opened “GOOD GOODS Japan 2019” in Hanoi on September 27 to create trade connections between Japanese and Vietnamese enterprises. As many as 52 enterprises from Japan take part along with around 100 Vietnamese companies. The purpose of the programme is to support Japanese small- and medium-sized enterprises operating in consumer goods to exploit and expand the ASEAN market, especially Vietnam's potential market, with consumer products having quality, safety and outstanding design, said Tomofumi Abe, JETRO's project director. Vietnam is a developing economy with an annual GDP growth rate of more than 6 percent, leading to an increase in income and the demand for high-quality consumer goods, according to JETRO. Meanwhile, Japanese consumer goods sector is popular in the world market with products such as kitchen utensils, detergents and cosmetics. The Japanese companies hope … [Read more...] about JETRO holds trade connection programme

Shipping containers are seen at a port in Hai Phong city, Vietnam July 12, 2018. Photo by Reuters/Kham. The Trade20 Index recently released by British lender Standard Chartered Bank ranks 20 economies out of the 66 based on 12 metrics across three pillars: economic dynamism, trade readiness and export diversity. The economic dynamism pillar was measured by inward foreign direct investments (FDI), export volume growth and GDP growth. Trade readiness refers to the market’s foundations to support future trade growth, and was measured by factors such as the quality of trade and transport infrastructure and ease of doing business, while export diversity was measured by export count. Vietnam showed the strongest progress in trade growth potential of all Southeast Asian markets, driven by improvements to its trade readiness and economic dynamism. Its improving strength in trade readiness is due to infrastructure enhancements and improvements to its ease of doing business score, … [Read more...] about Vietnam sixth in world’s trade growth potential ranking list: Standard Chartered

Garment-textile was one of the commodities with the export turnover of more than 1 billion USD In the same period last year, Vietnam posted a trade deficit of 114 million USD with Japan. Products with high increases included garment-textile, means of transport and spare parts, machinery, aquatic products, wood and timber products, computers, electronic products and components, and footwear. … [Read more...] about Vietnam runs trade surplus with Japan in January-August

Delegates cut the ribbons to kick off the trade fair. (Photo: VNA) AgroViet is the most prestigious international expo in the sector. For this year, the occasion is set to host 250 pavilions for 200 firms to showcase food processing machinery, agricultural machinery, veterinary medicine, and safe agro-forestry-fishery products, among others. Director of the Trade Promotion Centre of Agriculture Dao Van Ho noted that the expo aims to develop agricultural production in the era of Industry 4.0 and seek to add value to the agricultural production chain towards the implementation of a project to speed up mechanization in agricultural production, along with the national target program on the development of new rural areas. The trade fair offers the perfect venue for enterprises to promote their brands, introduce new products, especially hi-tech agricultural ones, share their experience, and expand international co-operation. This will therefore serve to contribute to enhancing the … [Read more...] about 19th International Agriculture Trade Fair opens in Hanoi