Bangkok (VNA) - Thai chicken exports rose less than expected in the first half of this year due to COVID-19, according to the Thai Broiler Processing Exporters Association (TBPEA). Thailand exported 470,000 tonnes of chicken in the first six months of 2020, representing a year-on-year rise of 2 percent, with export value of 54 billion baht (about 1.73 billion USD), up 1 billion baht. The local media recently cited TBPEA manager Kukrit Arepagorn as saying the pandemic has caused Thailand’s two main markets, the European Union (EU) and Japan, to cut chicken imports. Chicken exports to the EU dropped by 10 percent as the COVID-19 situation there is not yet resolved, he said, adding that Thailand expects to export 280,000 tonnes of chicken to the EU this year, down from 330,000 tonnes last year. Meanwhile, chicken exports to Japan only rose by 2 percent because the virus outbreak had hit tourism and forced the country to postpone the Tokyo Olympic Games, reducing demand. … [Read more...] about Thailand cuts chicken production as global demand drops
The EVFTA opens the door to Vietnam’s agriculture and fisheries products. Vinamex, an import and export company in Belgium, has a solid reputation in this rather difficult market, especially in regard to rice and cashew nuts. Its warehouse in Brussels regularly houses agricultural products imported from Vietnam. … [Read more...] about Vietnamese agricultural products given opportunity to enter Europe
The European-Viet Nam Free Trade Agreement (EVFTA) is also expected to be approved by the 14th National Assembly in its ongoing ninth meeting. Under the agreement, tax imposed on exports from Viet Nam to EU will be eliminated as soon as EVFTA takes effect or shortly thereafter (maximum seven years). Thanks to the EVFTA, Viet Nam’s revenue from exports to the EU is forecast to surge by 44 per cent by 2030. … [Read more...] about Can Vietnam could take advantage of new foreign investment strategies?
Giorgio Aliberti Ambassador of the European Union Delegation to Vietnam, photo VOV These new foundations provide a good basis for expanded trade and investment opportunities. Vietnam is by far the biggest exporter of goods to the EU in the ASEAN – almost twice as much as the second strongest exporter, Singapore. Unfortunately, the trade is very unbalanced: Vietnam only buys a third of the products from the EU that Singapore buys, leading to big trade deficits. Regarding FDI, the EU is the largest investor in ASEAN countries, ahead of Japan and China. However, the EU is only the fifth-largest FDI partner of Vietnam. Is this an indication that there is room for FDI growth from EU companies to invest in Vietnam and what does this imply for trade? … [Read more...] about How the EVFTA and EVIPA will help Vietnam lure investment