Cashew exports

In the first seven months this year, Vietnam’s total export value to the American market approximated $77 billion, equal 22 per cent jump on-year, in which exports to the US market were a bright spot reaching $66.7 billion, up 23.7 per cent on-year. Earlier, accelerated export of Vietnamese products to this market was a hallmark in 2021 reaching $114 billion in total export value, showing a 27 per cent jump on-year. Vietnam also witnessed a big export surplus with this market reaching approximately $89 billion last year. Exports to the US surpassed $96 billion in 2021, more than $21 billion compared to 2020, placing the US in the pole position among Vietnam’s export markets with export value far exceeding that of other markets such as China, the EU, ASEAN, South Korea, and Japan. Several new markets clinching free trade agreements (FTA) with Vietnam in America such as Canada and Mexico have increased imports from Vietnam. Apart from seafood and apparel, the export … [Read more...] about Exports to the Americas eye strong rebound

Vietnamese passion fruit (Photo: VNA) Hanoi (VNA) – The Dak Lak province Department of Agriculture and Rural Development is preparing necessary conditions for the shipping of local passion fruit to China, as the fruit has been officially allowed to enter the market. The preparation includes supporting businesses and farmers in making the fruit meet related requirements. The Central Highlands province is home to 1,055ha of passion fruit, of which 884ha are yielding 14,703 tonnes annually. The planting area and production of passion fruit nationwide are continuously increasing, especially in Central Highlands localities. Currently, Vietnam grows the fruit on about 6,000ha across 46 cities and provinces with an annual output of 300,000-400,000 tonnes. With relevant negotiations beginning in 2006, the General Administration of Customs of China (GACC) agreed this year to pilot the import of Vietnamese passion fruit starting in July, making it the 10th Vietnamese fruit … [Read more...] about Dak Lak prepares for export of passion fruit to China

Bangkok – Thai businesses have set their sights on expanding trade and investment in Cambodia, especially in processed food, agriculture, tourism, renewable energy, plastic, and gems and jewellery. The Aranyaprathet-Poipet border gate of Thailand and Cambodia (Photo: Asia News) Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC), said Cambodia is seeing average economic growth of 7 – 8% per year as a result of the country opening up to foreign direct investment. Cambodia has been trying to develop its tourism and agricultural sectors, but the country still lacks sufficient knowledge and modern technology, especially in terms of storage and processing in order to increase values. This offers a very good opportunity for Thai businesses to forge joint investments with Cambodian counterparts in many sectors as above, according to Sanan, who is also chairman of the Board of Trade of Thailand. He led the first post-pandemic visit to Cambodia by more than 60 … [Read more...] about Thai businesses eye expanding trade, investment in Cambodia

The agency has strived to deploy trade promotion and investment solutions based on the application of information technology, aiming to help Vietnamese companies maintain contact with potential foreign partners and investors to explore collaboration opportunities. Côte d'Ivoire is Vietnam's second-largest trading partner and fourth-largest export market in Africa, according to Nguyen Phuc Nam, deputy head of the Asia-Africa Market Department under MoIT. The value of two-way trade has amounted to more than 1 billion USD per year between 2017 and 2021. Bilateral trade recorded a strong recovery last year, reaching nearly 1.26 billion USD, up 38.7% from 2020. In particular, Vietnam is currently one of the five largest rice exporters to Ivory Coast, accounting for an average of 30-40% of the African country's total rice import value. Source: VNA … [Read more...] about MoIT ready to help Vietnamese companies access Côte d’Ivoire market

Hanoi - Vietnam’s GDP growth is forecast to expand 7.5 percent in 2022 and 6.7 percent in 2023, with resilient manufacturing and a robust rebound in services serving as the driving forces for economic recovery. At the press conference to release the report. (Photo: WB Vietnam) According to the latest economic update by World Bank (WB) for Vietnam, the country’s economy expanded 5.2 percent in Q4 of 2021, and respectively 5.1 percent and 7.7 percent in Q1 and Q2 of 2022. Inflation is projected to average 3.8 percent over the year. Carolyn Turk, WB Country Director for Vietnam, said that the bi-annual report “lays out a set of policy recommendations that could help mitigate the impact of these risks and make the economy more resilient going forward.” Titled “Taking Stock: Educate to Grow”, this edition underlines transforming the higher education system as the key to boosting the country’s productivity and achieving its development goals, in the context where the … [Read more...] about Vietnam’s economic growth forecast at 7.5 pc in 2022: World Bank

Workers wrap up and label durians. Vietnamese durians have made a name for themselves as a great-tasting fruit in many countries, but that's only the story's beginning. (Photo: baomoi.com) Hanoi (VNS/VNA) - Vietnamese durians have made a name for themselves as a great-tasting fruit for overseas consumers but still have a long way to go the maintain their position on the international scene, according to insiders. Dang Phuc Nguyen, General Secretary of the Vietnam Fruits and Vegetables Association, revealed that China , the largest importer of fresh Vietnamese durians, has allowed the fruits to be imported via official channels from July 12. However, these opportunities come with obstacles as the Chinese General Administration of Customs (CGAC) requires that Vietnamese exporting firms and growing areas register with the Vietnamese Ministry of Agriculture and Rural Development (MARD), and the registrations must be sent to CGAC for approval before the fruit can enter the … [Read more...] about Long way to go for Vietnamese durians