Eus most important trading partner

Chairman of the Municipal People’s Committee Phan Van Mai joins a dialogue between HCMC leaders and Korean enterprises. At the dialogue, Chairman of the Municipal People’s Committee Phan Van Mai confirmed that the Republic of Korea (RoK) has been an important economic partner of Vietnam generally and Ho Chi Minh City particularly during the passing years. The economic achievements of both sides were thanks to the enterprise communities of the two countries. The city has overcome the toughest time of the Covid-19 pandemic and is implementing specific plans for the recovery process which is facing challenges. The city cannot successfully fulfill these plans without the consensus and cooperation of everyone, especially local and foreign business communities. Chairman Mai also shared the difficulties that enterprises have been facing during the past two years and hoped that Korean businesses and companies still find opportunities when Vietnam and the world step-by-step reopened in … [Read more...] about RoK, important economic partner of HCMC

Having one of the region’s fastest-growing middle classes and a young population willing to spend, Viet Nam represents an important market for foreign goods. — Photo courtesy of Austrade As both Australia and Viet Nam continue to take solid action to make their trade partnerships expand year after year, a brighter future awaits the import and export sector, according to the Australian Trade and Investment Commission (Austrade). Austrade said Viet Nam’s upbeat growth projections have made it an attractive import-export destination. Thanks to several free trade agreements, it has sealed in recent years, Viet Nam’s trade partnerships have grown from strength to strength. It added that having one of the region’s fastest-growing middle classes and a young population that’s willing to spend, Viet Nam represents an important market for foreign goods. As one of Viet Nam’s main trading partners, Australia supplies the Southeast Asian country with an expansive range of premium products, … [Read more...] about Viet Nam-Australia expect brighter future for import-export sector

Trade promotion plays a key role for the dairy sector How has the dairy sector recovered from the pandemic? Despite the prolonged pandemic, the domestic dairy market still reached VND113.7 trillion in revenues in 2020 and VND119.3 trillion in 2021. The country produced about 1.77 billion liters of fresh milk in 2021, up 4.5 percent compared to 2020, while powdered milk volume saw positive growth of 13.1 percent year-on-year to 151,500 tonnes. Vietnamese dairy businesses have strengthened trade promotion activities and sought export markets. Currently, Vietnamese dairy products are available in 50 countries and territories. In 2021, the sector had a turnover of nearly US$300 million. Milk is a special product and export markets always put quality at the top. Therefore, Vietnam’s milk and dairy product exports to foreign markets are considered a great success. Tran Van Trung, chairman of the Vietnam Dairy Association What are the opportunities for the dairy … [Read more...] about Dairy sector milks trade agreements for greater opportunities

UK trade minister Anne-Marie Trevelyan said the country wants to be a part of Vietnam’s development story in the 21st century, and fostering bilateral trade relations is among its priorities. Vietnam and the UK should set a trade turnover target of over US$10 billion by 2023, which would be a meaningful step to mark the 50 th anniversary of Vietnam-UK diplomatic relations next year. Chairman of the National Assembly Vuong Dinh Hue (mid) at the forum. Source: VNA Deputy Prime Minister Le Van Thanh gave the remarks at the Vietnam-UK High-level Forum on Economy and Trade held on June 29. The event is one of the highlights of a visit to the UK by the high-ranking delegation from the National Assembly of Vietnam led by Chairman Vuong Dinh Hue from June 28-30. According to Thanh, the Vietnam-UK strategic partnership has progressed strongly over the years and contributed to socio-economic development in each country. Thanh expected the partnership would … [Read more...] about Vietnam-UK target US$10-billion trade turnover by 2023

Having one of the region’s fastest-growing middle classes and a young population willing to spend, Việt Nam represents an important market for foreign goods. — Photo courtesy of Austrade HÀ NỘI — As both Australia and Việt Nam continue to take solid action to make their trade partnerships expand year after year, a brighter future awaits the import and export sector, according to the Australian Trade and Investment Commission (Austrade). Austrade said Việt Nam’s upbeat growth projections have made it an attractive import-export destination. Thanks to several free trade agreements, it has sealed in recent years, Việt Nam’s trade partnerships have grown from strength to strength. It added that having one of the region’s fastest-growing middle classes and a young population that’s willing to spend, Việt Nam represents an important market for foreign goods. As one of Việt Nam’s main trading partners, Australia supplies the Southeast Asian country with an expansive range of … [Read more...] about Việt Nam-Australia expect brighter future for import-export sector

Illustration. (Photo: VNA) Hanoi (VNA) – Vietnam enjoyed a trade surplus of 710 million USD in the first six months of 2022, the General Statistics Office (GSO) reported on June 29. According to the office, in the first half of this year, total import-export revenue is estimated to reach 371.17 billion USD, up 16.4% year on year, with imports of 185.94 billion USD, a rise of 17.3% over the same period last year. In the period, the domestic economic sector suffered trade deficit of 15.97 billion USD, while the foreign-invested sector saw trade surplus of 16.68 billion USD. In June, import-export turnover is estimated at 32.65 billion USD, up 5.6% over the previous month. In the second quarter of 2022, export revenue reached 96.8 billion USD, a rise of 21% year on year and 8.7% over the previous quarter. In the January-June period, 28 products recorded export revenue of over 1 billion USD, and five earning revenue exceeding 10 billion USD. The GSO reported that the … [Read more...] about Vietnam enjoys trade surplus of 710 million USD in six months

Making his remarks in a virtual meeting with the Vietnam News Agency's correspondent in the U.K. ahead of the top legislator’s trip from June 28-30, David said the visit is important not only symbolically, but in a very practical sense as well, because during the visit, the two sides will be talking about different issues important to both countries. According to the APPG Chair, Hue will be meeting not only the Speaker of Commons and the Speaker of Lords, members of all political parties and the APPG, but also members of the government, including the Deputy Prime Minister and the Home Secretary. Therefore, the visit is not only official but also practical. According to David, for a number of years, there has been relations between the National Assembly of Vietnam and the British Parliament, but this relationship has seen a formalization over last few years, particularly with the British Inter-parliamentary union's visit to Vietnam in October 2018. He said the visit, led by … [Read more...] about Top legislator’s U.K. visit comes in opportune and important time: APPG Chair

National Assembly Chairman Vuong Dinh Hue (second, left) presents a gift to the Vietnamese expatriate community in the UK. (Photo: VNA) London (VNA) - The official visit to the UK by Vietnamese National Assembly Chairman Vuong Dinh Hue has come in a very opportune and important time, as the two countries are seeking ways to deepen their parliamentary and political dialogues, said Mr Wayne David MP, Chair of the All-Party Parliamentary Group (APPG) for Vietnam. Making his remarks in a virtual meeting with the Vietnam News Agency's correspondent in the UK ahead of the top legislator’s trip from June 28-30, Mr David said the visit is important not only symbolically, but in a very practical sense as well, because during the visit, the two sides will be talking about different issues important to both countries. According to the APPG Chair, Mr Hue will be meeting not only the Speaker of Commons and the Speaker of Lords, members of all political parties and the APPG, but also … [Read more...] about Top legislator’s UK visit comes in opportune and important time: APPG Chair

An overview of the forum (Photo: VNA) Hanoi (VNA) – National Assembly Chairman Vuong Dinh Hue attended the Vietnam-UK high-level forum on economy and trade in London on June 29 (local time), as part of the leader’s ongoing visit to the UK. Aiming to seek stronger economic, trade and investment partnership between the two countries, the event drew Vietnamese Deputy Prime Minister Le Van Thanh, Britain Secretary of State for International Trade Anne Marie Trevelyan, and MP Graham Stuart, UK Prime Minister's Trade Envoy to Vietnam, and a large number of Vietnamese and Britain businesses. Addressing the event, Deputy PM Thanh highlighted important progress in the Vietnam-UK Strategic Partnership , as well as great chances for both sides to bolster their ties from the UK-Vietnam Free Trade Agreement ( UKVFTA ). He underlined that both sides should optimise advantages from the deal by encouraging the promotion of the two-way trade and investment, and creating favourable … [Read more...] about NA Chairman attends Vietnam-UK high-level forum on economy, trade

The US, China, and the EU remain the three largest markets for Vietnamese cashew, accounting for 26.8 percent, 17.7 percent, and 20.5 percent of the total export value of the cashew industry of Vietnam, respectively. Cashew nut exports to the US market declined by 10.1 percent in volume and 30.5 percent in value over the same period last year. Cashew nut exports to the EU market surged by 14 percent in volume but dropped by 21.2 percent in value. Cashew nut exports to China jumped by 136.4 percent in volume and 140.2 percent in value. Meanwhile, Vietnamese cashew processing enterprises imported 480,000 tons of raw cashew in April, spending up to $772 million, a sharp increase of 375 percent in volume and 470.5 percent in value compared to that in April last year. In the first four months of this year, Vietnam imported a total of 1.19 million tons of raw cashew, with a value of up to $1.88 billion, up 300 percent in volume and 323.5 percent in value over the same period last year. … [Read more...] about Vietnamese cashew industry sees trade deficit for the first time