Clam processing at Lenger Seafoods Vietnam Co. Việt Nam and the UK saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic. VNA/VNS Photo HÀ NỘI — After the UK-Việt Nam Free Trade Agreement (UKVFTA) took effect on December 31, 2020, both sides saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic. Statistics from the General Department of Việt Nam Customs showed that total trade in goods between the two nations topped US$657.35 million in January, a year-on-year hike of 78.57 per cent. The Ministry of Industry and Trade described it as an impressive growth, particularly in the context of COVID-19. Notably, Việt Nam’s shipments to the European country hit $598.07 million, or 84.61 per cent higher than the same time last year, and 56.51 per cent higher than December 2020. Exports of agricultural products maintained stable growth in the month, with export revenue of seafood surging 18.1 per cent to $19.72 million, and fruits and vegetables rising 148.6 per cent to $1.04 million. Under the UK trade deal, tariffs levied on Vietnamese shrimp materials is reduced from 10-20 per cent to zero per cent, while more than 94 per cent of 547 tariff lines on Vietnamese fruits and vegetables will be cut to zero per cent. Experts said a wide range of Vietnamese fruits like lychee, longan, dragon fruit, pineapple and rambutan will hold more advantages to access the UK market over those from Brazil, Thailand and Malaysia who have not clinched an FTA with the European country. Việt Nam also saw strong increase in its shipments of telephone and parts (up 371.6 per cent to $252.59 million); machines, equipment and parts (up 109.9 per cent to US$74.58 million); computers and parts (up 91 per cent to $31.82 million), among others. Meanwhile, Việt Nam spent $59.297 million on imports from the UK, up 34.3 per cent year-on-year. Last year, total …
China malaysia trade deficit
HCMC’s imports and exports soar in Jan-Feb period
HCMC’s imports and exports soar in Jan-Feb period The Saigon Times A container ship docks at the Tan Cang-Cai Mep Terminal. HCMC recorded an increase in both imports and exports in the first two months of 2021 – PHOTO: VNA HCMC – HCMC earned nearly US$8 billion in export revenue and spent US$10.92 billion on imports in the first two months of the year, rising over 25% and 53% against last year’s figures, respectively, according to the HCMC Department of Statistics. Without crude oil, the city’s export revenue would amount to US$7.6 billion, up over 26% year-on-year. Specifically, in the two-month period, the city exported wood and wooden products worth over US$220 million, up over 60% versus last year’s figure. The export of machinery, equipment, tools and spare parts fetched US$400 million, up 23%; computers, electronics and accessories saw US$2.57 billion, up over 11% and rice saw US$135 million, improving over 5%. The city’s imports of plastic materials in the year to February surged 52%, fuel products were up by 44% and garment-leather-footwear materials by 16%. Further, China remained HCMC’s largest trade partner. Businesses in the city exported nearly US$1.8 billion and purchased some US$3.3 billion worth of goods to and from China, up some 31% and 78%, respectively, over the figures recorded in the same period last year. The United States was the second largest importer of the city, followed by Japan and South Korea. Meanwhile, Singapore was the city’s biggest exporter. …
[Read more...] about HCMC’s imports and exports soar in Jan-Feb period
Việt Nam climbs three spots in global soft power rankings
Foreign visitors walk in Điện Biên Phủ Street, Hà Nội. Việt Nam was the only country among 10 member states of the ASEAN to see improvement in Brand Finance’s Global Soft Power Index Report 2021. — VNA/VNS Photo Lâm Khánh HÀ NỘI – Việt Nam has climbed three spots to rank 47th out of 105 countries in Brand Finance’s Global Soft Power Index Report 2021. Việt Nam was the only country among the 10 member states of the Association of Southeast Asian Nations (ASEAN) to improve its ranking this year. Its overall score was 33.8 out of 100 points, 2.5 points higher than last year, putting it ahead of the Philippines (53rd), Cambodia (89th) and Myanmar (90th). Among other ASEAN countries, Singapore was 20th, Thailand 33rd, Malaysia 39th, and Indonesia 45th. According to Brand Finance, the improvement was largely due to the fact that Việt Nam has managed the COVID-19 pandemic extremely well. “Việt Nam was spared a year of lockdowns and besieged hospitals, and has one of the lowest COVID-19 infection and death rates in the world,” the report said. “Not only is the response to the pandemic impressive – given its shared border with China – but Việt Nam also experienced one of the highest economic growth rates globally in 2020 – one of a handful of countries with positive growth in 2020.” Prime Minister Nguyễn Xuân Phúc has approved the Việt Nam National Brand Programme from 2020 to 2030, which aims to increase the value and ranking of the national brand while targeting more than 1,000 products to become strong national brands. The brands from the country are managed through efforts and initiatives undertaken by the Ministry of Industry and Trade (MoIT)’s Department of Trade Promotion (Vietrade), under their 'Việt Nam Value' programme. At a national level, Việt Nam has established diplomatic relations with 187 out of 193 member states of the United Nations and completed the process of negotiating and signing new-generation free trade agreements, including the …
[Read more...] about Việt Nam climbs three spots in global soft power rankings
