How exporting firms respond to technical barriers to trade

For the first time, on March 19, a batch of nearly 20 tonnes of fresh sugarcane from the northern province of Hoa Binh left Vietnam heading to the US market, facilitated by the privately held Tien Ngan Trade Investment Co., Ltd. Despite the modest value, the move heralds strong prospects for sugarcane and other agricultural items from Hoa Binh province. Nguyen Le Diep, the company’s director, revealed that it took six months of negotiations to meet the partner’s strict technical standards. Amidst the huge supply, boosting exports has become a crucial task for cement producers Notably, accompanying the fresh sugarcane batch were 10 cane pressing machines, which hints at how the products will be consumed in the foreign market. With a wealth of experience exporting hundreds of tonnes of fresh sugarcane to the EU, South Korea, and lately the US market, Tien Ngan Co., Ltd. is set to export 300-500 tonnes of fresh sugarcane this year. The fresh export shipment came … [Read more...] about Firms gearing up to boost exports

Hoa Binh Province in northern Vietnam on Sunday held a ceremony to ship the first batch of fresh sugarcane totaling 17.3 metric tons stateside after six months of negotiations. The provincial Department of Agriculture and Rural Development on Monday said it joined hands with the People’s Committee of Lac Son District and companies to hold the ceremony. With the support of the Plant Protection Department under the provincial Department of Agriculture and Rural Development, local firms have met U.S. technical requirements. The fresh sugarcane was collected, processed and packaged by Tien Ngan Trading Investment Co. Ltd.. Apart from the sugarcane, 10 sugarcane juicers were also sent stateside. Speaking at the ceremony, vice-chairman of the Hoa Binh People’s Committee Dinh Cong Su expected the province to improve its initial achievements to expand the markets for many other agricultural products. The export of sugarcane to foreign markets and the expansion of production will … [Read more...] about Northern Vietnamese province exports first fresh sugarcane batch to US

Viet Nam’s trade with 11 other major Asian markets could rise from US$326 billion to $465 billion by 2030. — Photo courtesy of UPS Viet Nam’s trade with 11 other major Asian markets could rise significantly in value by 2030, according to an industry study released by UPS. "Clearing the Runway for Intra-Asia Trade" sheds light on trade growth drivers, potential headwinds, and multi-stakeholder action required to unlock the 2030 opportunity. Trade in just 12 key markets (Australia, China, Hong Kong, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand, and Viet Nam), known as the Asia 12, accounts for 88 per cent of intra-Asia trade today and could more than double in value from US$6.4 trillion in 2020 to $13.5 trillion in 2030. Viet Nam has rapidly grown into an important regional manufacturing hub. The country is expected to leverage this position further in the coming decade and trade value with the rest of the Asia 12 is forecast to rise … [Read more...] about Viet Nam’s trade with top 11 Asian markets is set to grow significantly

Fruits and vegetables on display at the Hortex Vietnam expo in HCM City last month. Africa and the Middle East are highly promising export markets for Vietnamese fruits and vegetables. — VNS Photo The Middle East and Africa have high demand for fruits and vegetables, offering Vietnamese firms a great opportunity to boost exports, according to the Ministry of Industry and Trade. Nguyen Minh Phuong, director of the ministry’s Asia-Africa market department, said the Middle East, which comprises 15 countries and has a population of around 400 million people, has a high per capita income. They import large volumes of agricultural products, including fruits and vegetables, she said. Africa too has huge demand for agricultural products, but because of the distances, Vietnamese firms only export to countries in the north of the continent, she said. Viet Nam’s exports of fruits and vegetables to the Middle East and North Africa (MENA) have soared from US$255.1 million in 2019 to … [Read more...] about Middle East, North Africa lucrative markets, fruit, vegetable exporters told

Fruits and vegetables on display at the Hortex Vietnam expo in Ho Chi Minh City. (Photo: VNA) HCM City (VNS/VNA) - The Middle East and North Africa have high demand for fruits and vegetables, offering Vietnamese firms a great opportunity to boost exports, according to the Ministry of Industry and Trade. Nguyen Minh Phuong, director of the ministry’s Asia-Africa market department, said the Middle East, which comprises 15 countries and has a population of around 400 million people, has a high per capita income. They import large volumes of agricultural products, including fruits and vegetables, she said. Africa too has huge demand for agricultural products, but because of the distances, Vietnamese firms only export to countries in the north of the continent, she said. Vietnam’s exports of fruits and vegetables to the Middle East and North Africa (MENA) have soared from 255.1 million USD in 2019 to 380.3 million USD in 2021, with the main markets being Turkey, the UAE, … [Read more...] about Middle East, North Africa lucrative markets for fruit, vegetable exports

Workers process cashew for export. Cashew processing firms have embraced intensive processing to add value to their exports. — VNA/VNS Photo Long Son JSC, one of Viet Nam’s leading cashew processors and exporters, is stepping up intensive processing to boost exports of processed nuts. It produces a number of items such as roasted and salted cashew with and without the skin, spicy cashew, cheese cashew, and sesame cashew. The company said processed nuts only account for a small portion of its total cashew exports, and so it would focus on deep processing to gradually increase the proportion of high-value processed products. Hoang Son 1 JSC has sold large volumes of highly processed cashew to the EU market. Another firm that has also succeeded in exporting processed cashew products is Long An Food Processing Export JSC (Lafooco). Its cashew can be seen on shelves in supermarkets in China, Hong Kong, Canada, Japan, and Europe. Besides exporting through traditional … [Read more...] about Cashew firms enhance processing to add value to products

Iron and steel, footwear and electronics exports almost came to a halt while those of agriculture produce like rice, vegetables and seafood fell by 20-50%, according to the Vietnam Trade Office in Russia. Rubber, garment and coffee were the only items whose exports increased. The ongoing Russia-Ukraine war is said to be the main cause as sanctions on Russia limit its trade with other countries, including Vietnam. Major shipping firms and airlines have stopped their Russia operations, and so Vietnamese business have trouble sending goods to the country. Bilateral trade fell by nearly 62% to $402 million. The trade office said Russian businesses are increasingly interested in establishing trade partnership with their Vietnamese counterparts, and the number of Russian companies participating in Vietnam’s fairs and exhibitions is rising. Many Russian retailers want to sell agricultural products, clothes and footwear from Vietnam, it added. … [Read more...] about Sanctions hit Vietnamese exports to Russia

As many as 52 large firms of the Unite States, including Boeing, Coca Cola, SpaceX, Netflix, and Apple, have come to Vietnam to seek cooperation opportunities in various fields. Representatives of the US - ASEAN Business Council and US firms at a working session with the Ministry of Planning and Investment. This is the largest US business delegation ever to come to Vietnam at a time when the two countries are celebrating 10 years of their comprehensive partnership. The trip is to show US businesses’ commitment to investing in Vietnam, said Marc Knapper, Ambassador of the US to Vietnam, at a press briefing on March 21. According to the diplomat, Vietnam is a potential market with many business opportunities, especially when bilateral relations are developing positively, with their trade expanding vigorously over the years. Sharing the view, Ted Osius, president & CEO of the US-ASEAN Business Council (USABC), noted US firms have a greater interest … [Read more...] about More than 50 US firms sound out investment opportunities in Vietnam

Over the last few weeks, the price of live hogs in Vietnam has fallen, causing livestock groups to suffer losses. In the north, prices have fallen to lower than $2.15 per kg, a two-year low. In the central and southern regions, the price is around $2.20. The cost of breeding pigs in household farmsteads is about $2.60 per kg, and around $2.15 for big husbandry companies that cover all farming stages from animal feed and seeding to slaughtering. Accordingly, farmers are suffering heavy losses, while big companies like C.P. Vietnam, Japfa Vietnam, CJ, Masan, and Dabaco cannot gain profits. All options on the table as livestock firms take on losses, photo shutterstock Towards the end of last year, many pig breeding enterprises reported losses or retreating profits over the same period. According to a February statement, local giant Dabaco saw a loss of more than $3.4 million in the fourth quarter of 2022, while it earned nearly $4.87 million in profit in the same period … [Read more...] about All options on the table as livestock firms take on losses

"Clearing the Runway for Intra-Asia Trade" sheds light on trade growth drivers, potential headwinds, and multi-stakeholder action required to unlock the 2030 opportunity. Trade in just 12 key markets, known as the Asia 12, accounts for 88% of intra-Asia trade today and could more than double in value from USD 6.4 trillion in 2020 to USD 13.5 trillion in 2030. Vietnam has rapidly grown into an important regional manufacturing hub. The country is expected to leverage this position further in the coming decade and trade value with the rest of the Asia 12 is forecast to rise from USD 326 billion to USD 465 billion by 2030. “Intra-Asia trade holds incredible potential over the coming decade, built off the immense economic success that key regional economies have accomplished in recent years,” said Michelle Ho, President for UPS Asia Pacific, Middle East and Africa. According to the study, four segments have driven the surge in trade among the Asia 12: retail, industrial … [Read more...] about Vietnam’s trade with top 11 Asian markets is set to grow significantly