Hanoi (VNA) - Vietnamese exporters should further exploit the 28-member European Union to increase their market share in the promising region, Vietnam Trade Counsellor in Germany Bui Vuong Anh has said. Addressing a conference on trade promotion to the European market held by the Ministry of Industry and Trade (MoIT) held on November 25, he noted that Vietnam’s exports account for only 2 percent of European imports. Major exports from Vietnam with advantages in the market include agricultural and aquatic products, processed foods, footwear, garments and textiles, and some high value-added product categories, such as electrical products, electronics, telephones, equipment, and machinery. Anh said there is still room for Vietnamese exporters and advised enterprises to optimise their advantages in agricultural and aquatic products, garments and textiles, and footwear to quickly increase market share in the region. For seafood products, enterprises should pay attention to origin … [Read more...] about Exporters advised to further tap into European market
Garment and textile exports
“Implementation of FTAs helps Vietnam promote sustainable exports while avoiding heavy dependence on a single or several markets. To date, Vietnam has carried out 13 FTAs with more than 50 markets, including most of the world’s top economies”, Director of the MoIT’s Foreign Trade Agency Phan Van Chinh said. … [Read more...] about Export revenue in nine months picks up despite pandemic
Due to its geographic proximity, lower wages, skilled labor, trade agreements, and regional connectivity, Vietnam has emerged as one of the most preferred alternatives for manufacturers. Major US firms such as Apple, Intel, Qualcomm, Universal Alloy Corporation (UAC), Nike, and Key Tronic EMS have already moved production lines to Vietnam due to costs associated with the trade war. … [Read more...] about How US investors’ positive sentiment towards Vietnam grows stronger?
The MoIT is willing to listen to ideas and opinions from Korean investors and businesses and will work harder to improve the local business climate, he added. Speaking at the event, Korean Ambassador to Vietnam Park Noh Wan highlighted Vietnam as an open economy which has developed steadily and become member of many free trade agreements. These are good factors for Korean firms to stay confident about their investment and business in the Southeast Asian country, he said. As the COVID-19 pandemic is causing disruption to global supply chains, enterprises from both nations need to exchange frequently and coordinate closely to further boost trade and investment, the diplomat said. Currently, the RoK is Vietnam’s third largest trade partner, after China and the US, with bilateral trade reaching nearly 67 billion USD in 2019. It is also the fourth largest export market and second import market of Vietnam. The RoK mainly imports agricultural and aquatic products, processed food, … [Read more...] about MoIT pledges to do its best to support Korean firms: Minister