Trade

The Toan Thang Steel Trading Co., Ltd. had never exported steel to the EU, but the company has adopted strategies to sell products to this market to benefit from EVFTA opportunities. According to Doan Danh Tuan, Chair of the Toan Thang Steel Trading Co., Ltd.’s Members Council, the company can export cut and sawn steel products according to the specifications of EU partners. … [Read more...] about Exporters hail EU trade deal, steel themselves for strict standards

Hanoi (VNA) - Deputy Minister of Industry and Trade Do Thang Hai on August 4 held a virtual meeting with Rodrigo Yáñez Benitez, Under-Secretary for International Economic Relations at the Chilean Ministry of Foreign Affairs, to boost economic and trade cooperation between the two countries. The meeting aimed at promoting bilateral collaboration amid COVID-19, taking full advantage of the Vietnam-Chile Free Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Both sides expressed their delight at growth in bilateral trade in 2019, as Chile became Vietnam’s fourth-largest partner in Latin America with revenue of 1.23 billion USD, up 12.95 percent year-on-year. Notably, two-way trade then reached nearly 568 million USD in the first half of 2020 despite the serious impact of COVID-19, down just 1.04 percent year-on-year. The two officials proposed intensifying supply chains as well as the production and export of face … [Read more...] about Vietnam, Chile seek to foster economic, trade cooperation

Those convicted of possessing or smuggling more than 600 grams of heroin or more than 2.5 kilograms of methamphetamine face the death penalty. The production or sale of 100 grams of heroin or 300 grams of other illegal narcotics is also punishable by death. … [Read more...] about Vietnamese, Scottish men imprisoned for selling drugs to foreigners in Hanoi

Viet Nam National Textile and Garment Group (Vinatex) forecasted that the country's textile and garment exports in the last six months of the year would continue to decrease by 14-18 per cent over the same period last year. … [Read more...] about Textile and apparel firms lack orders for the last two quarters

Hanoi (VNA) – The EU-Vietnam Free Trade Agreement (EVFTA) strengthens EU economic links with Southeast Asia and will potentially contribute to its recovery after the coronavirus crisis, moderndiplomacy.eu quoted an EU official as saying in a story published on August 3. The EVFTA, which took effect on August 1, will not only ultimately scrap duties on 99 percent of all goods traded between the two sides but also make it easier for European companies to do business in Vietnam, according to the site. They will now be able to invest and pitch for government contracts with equal chances to their local competitors, it said. Under the new agreement, the economic benefits go hand in hand with guarantees of respect for labour rights, environment protection and the Paris Agreement on climate, through strong, legally binding and enforceable provisions on sustainable development. “The European economy needs now every opportunity to restore its strength after the crisis triggered by … [Read more...] about EVFTA expected to contribute to EU recovery after coronavirus crisis