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“From my perspective, I think that bodes very well for both countries going into 2023 and I'm pleased to see that both countries are showing strong signs of growth – Vietnam of course especially so,” the ambassador said in an interview on the occasion of the Tet (lunar New Year) festival. According to the diplomat, Vietnam's economic growth last year is very impressive in the context that a contraction is seen in most parts of the world. Vietnam’s growth says a lot about the government’s approach to post-COVID recovery – with a real prioritization on recovery and its policies, she said. “Countries like New Zealand, and Vietnam’s many other trade partners have also noticed that, and as a result, responded very positively.  We’ve seen a real uptick in engagement; both business-to-business engagement and government-to-government as countries such as ours want to deepen their collaboration with Vietnam, and enjoy some of the benefits that Vietnam has with its strong economic growth,” … [Read more...] about Common approach – advantage for Vietnam – New Zealand economic and trade relations: Ambassador

The RCEP accounts for over a quarter of global exports, photo Le Toan On January 2, the Regional Comprehensive Economic Partnership (RCEP) took effect for Indonesia. The preferential tariffs under the deal can now be used by the private sector who are exporting to and/or importing from Indonesia, according to the ASEAN Secretariat. In a release issued by the Indonesian Ministry of Trade, Minister Zulkifli Hasan said that the RCEP is expected to increase competitiveness and strengthen global production network, promote regional supply chain through better market access for exports of goods and services, reduce or eliminate trade barriers, and enhance transfer of technology. “The entry into force of the RCEP is timely to mark the beginning of Indonesia’s ASEAN Chairmanship in 2023. Indonesia has been the driving force in the deal since the conceptualisation phase, and we hope more milestones, such as the establishment of the RCEP Support Unit, can be achieved during Indonesia’s … [Read more...] about RCEP boosting like-minded vision among bloc members

Right after the deal took effect, trade among regional countries has been increasing. Data from China’s General Administration of Customs showed that in the first 11 months of 2022, import-export revenue between the country and RCEP members rose 7.9% year on year to 11.8 trillion CNY (1.74 trillion USD), accounting for 30% of the country’s total. Of the total, trade between China and ASEAN countries reached nearly 5.9 trillion CNY (872.65 billion USD), up 15.5% year on year. According to experts, the greatest benefit from the deal is preferential tax rates, with zero tariff being applied on more than 90% of goods traded by its members. A recent survey from HSBC showed that more than 93% of surveyed companies from RCEP members said that they plan to increase transactions with China, and more than 30% said they expects at least 30% growth in business in China this year. In 2023, RCEP member countries are predicted to recover faster, especially in tourism and real estate. Thanks … [Read more...] about RCEP brings great business chances for regional firms: experts

Data from the Vietnam Trade Office in Australia shows that many key exports of Vietnam continue to post high growth amid various challenges. (Photo: vneconomy.vn) Sydney (VNA) – Two-way trade between Vietnam and Australia enjoyed a record year-on-year growth of 26.91% to 15.7 billion USD in 2022, according to the Vietnam Trade Office in Australia. Data from the office shows that many key exports of Vietnam continue to post high growth amid various challenges, including machinery, equipment, tools, and other spare parts (62.1%); footwear (41.3%); textiles (26.3%); aquatic products (37.3%); iron and steel (102.9%); handbags, suitcases and umbrellas (24.8%); coffee (62.53%); and electric wires and cables (81.2%). Meanwhile, Australia continued to be an important supplier of raw materials for Vietnam’s production of coal, cotton, ores and other minerals, and wheat. Australian consumers choose  fresh litchi imported from Vietnam.(Photo: VNA) Head of the trade office … [Read more...] about Vietnam-Australia trade hits record high in 2022

A worker of Gia Dinh Shoes Co check the quality of shoes. — VNA/VNS Photo Hong Dat Two-way trade between Viet Nam and Australia topped US$15.7 billion in 2022, up 27 per cent year-on-year, statistics from the Viet Nam Trade Office in Australia revealed. Last year, Viet Nam exported $5.55 billion worth of goods to Australia, a year-on-year increase of 26 per cent while its imports from the market saw a yearly hike of 27.3 per cent to $10.14 billion. Vietnamese export items posting high growth amid various challenges included iron and steel (103 per cent); electric wires and cables (81 per cent); coffee (63 per cent); machinery, equipment, tools, and other spare parts (62 per cent) besides footwear (41 per cent); aquatic products (37 per cent); textiles (26 per cent); handbags, suitcases and umbrellas (25 per cent). At the same time, Australia continued to be an important supplier of raw materials for Viet Nam’s production of coal, cotton, ores and other minerals, and wheat. … [Read more...] about Trade with Australia hits record high in 2022

Hanoi (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. - The Vietnamese Government always values the development of traditional friendship with Portugal, Prime Minister Pham Minh Chinh told Portuguese Minister of Foreign Affairs Joao Gomes Cravinho during a reception in Hanoi on January 18. PM Chinh suggested both sides facilitate visits, especially those at high level to raise mutual understanding and political trust, as well as fully and effectively tap existing cooperation mechanisms and build new ones to step up collaboration in promising areas that match their interests. Read full story - The 15th National Assembly's third extraordinary meeting took place in Hanoi on January 18 under the chair of NA Chairman Vuong Dinh Hue. At the meeting, the legislature listened to a proposal by the NA Standing Committee on relieving Nguyen Xuan Phuc from the position as President of Vietnam for the 2021-2026 tenure and allowing him to … [Read more...] about ☀️ Morning digest January 19

The Vietnamese diaspora has spread across world, except maybe Antarctica. Over the past 50 years, Vietnamese people have left their motherland to plant new roots in Europe, the U.S., Canada, Australia, and New Zealand. Aside from western countries, thousands, maybe hundreds of thousands, of Vietnamese people live across Asian countries and territories such as Japan, South Korea, Taiwan, Singapore, Malaysia, Thailand, Cambodia, Laos, and the Philippines. Current estimates put the number of people in the Vietnamese diaspora at about four million. Not only do Vietnamese people live in these countries, but they have certainly made their mark. On a recent visit to Vietnam, former Israeli Prime Minister Ehud Barak said, “I know that Vietnamese people in Israel are good at cuisine and enduring in the military.” Au Co, considered the mother of Vietnamese civilization, when taking her fifty children to settle in the snow covered mountains of northern Vietnam, could never have … [Read more...] about Vietnamese embark on global living journies

What was your first impression of Vietnam’s economic landscape during this visit? Upon arrival, I could already sense the vibe of a very energetic city. Hanoi is full of power, like it doesn’t seem to have been affected by the pandemic at all. It was clear that there were many tourists, and hotel rooms are full. The traffic was very heavy, and the evening looks very fantastic with all these neon lights all around. It has been a great experience watching the city thrive after the lockdown period. Algernon Yau, Secretary for Commerce and Economic Development What has been achieved during your visit in terms of strengthening the economic relations between Hong Kong and Vietnam? There were a few missions that I had to achieve during this visit. The most important was for me to speak with the government regarding cooperation opportunities between Hong Kong and Vietnam on bilateral trade between the two parties. This is also a good opportunity for me to understand … [Read more...] about A rejuvenation in Hong Kong tie-ups

It was the only candidate in the Association of Southeast Asian Nations (ASEAN), and also the only Asian candidate of the Francophone community. Thailand’s Ambassador Nikorndej Balankura said Vietnam’s role in the U.N. as a whole has been very commendable, adding that in the past years, Vietnam has very successfully been a member of the Security Council and represented Asia and Southeast Asia in particular very well. “I think that the fact that Vietnam has been elected is both commendable and well deserved. Vietnam is an ASEAN candidature so Vietnam’s candidacy has been supported by both ASEAN and of course, Thailand, because we're very close bilaterally,” he said. “And it's a successful second election, not the first one. So it's even more pronounced the success of Vietnam. So not only we have Vietnam being a member of the Human Rights Council 2014 to 2016, but will also be member in 2023 to 2025. And this will strengthen the Vietnamese human rights record, advancing the … [Read more...] about Vietnam working hard to protect, promote human rights

2022 was the second year of the Resolution of the 13th Party Congress on implementing the foreign policy of independence, self-reliance, peace, friendship, cooperation and development. Multilateralism and diversification of foreign relations combining national strength with the strength of the era has helped Vietnam integrate into the global milieu. Vietnam has become a reliable partner and a responsible member of the international community. The objective of foreign policy is to ensure the highest interests of the nation on the basis of basic principles of the United Nations Charter and international law, equality, cooperation and mutual benefits. President of the U.N. General Assembly Abdulla Shahid emphasised that Vietnam is a model of the U.N., which makes significant contributions to consolidating multilateralism and participation in U.N. affairs. Vietnam's external activities leave good impression After a two-year hiatus due to the COVID-19 pandemic, Vietnam's bilateral … [Read more...] about External affairs affirm Vietnam’s rising position, prestige in global arena