Party General Secretary Nguyen Phu Trong attends the 30th Diplomatic Conference, Ha Noi, August 13, 2018 - Photo: VGP/Hai Minh At the event, the Party chief asked for a new mindset in diplomatic works, thus setting up a new status and role of Viet Nam with other nations in both of bilateral and multi-lateral relations. Mr. Trong highlighted the must to maintain the diplomatic policies of independence, self-reliance, peace, cooperation and development; multilateralization, diversification, active international integration for the sake of the nation as well as enhancement of cooperation for harmonizing strategic interests of Viet Nam and other countries'. The overall task is to ensure a peaceful, sustainable and favorable environment for the nation-building and protection, launch strategic tasks on socio-economic development and resolutely protect the nation’s independence, sovereignty and legitimate interests in line with international laws, he asserted. The … [Read more...] about Party chief highlights importance of economic diplomatic works
Importance of foreign trade
PM Nguyen Xuan Phuc receives Minister-President of Flanders Geert Bourgeois in Ha Noi, May 14, 2018 - Photo: VGP/Quang Hieu PM Nguyen Xuan Phuc made that statement at his reception for Minister-President of Flanders Geert Bourgeois on May 14 in Ha Noi. Welcoming the Minister-President of Flanders and large corporations to work with Vietnamese ministries, agencies and localities, the PM expected that the two sides will strengthen cooperation in the upcoming time. Mr. Geert Bourgeois affirmed to advocate approving the EU-Viet Nam Free Trade Agreement (EVFTA), supposing that the signing of the agreement will create a strong impetus in boosting economic and trade cooperation between Viet Nam and nations in the EU. Viet Nam expects to ink the EVFTA with the EU to facilitate the two nations’ cooperation, said the Vietnamese leader, suggesting Belgium advocate and encourage other nations in the EU to soon ratify the … [Read more...] about VN attaches importance to economic, trade relations with Belgium
(VEN) - Total value of foreign trade reached an estimated US$107.32 billion in the first quarter of this year, a rise of 17.7 percent compared with the same period in 2017. Favorable conditions exist for Vietnam to boost rice exports US$1.3 billion trade surplus In March, the export value reached an estimated US$19.8 billion, up 38.2 percent compared with February. In the first three months, the export value reached US$54.3 billion, 22 percent higher compared with the same period last year. Major contributions to this export growth came from key products, such as telephones and components, textiles and garments, computers, electronic products and components, iron and steel, and cameras. According to Vietnam Steel Association Vice President Nguyen Van Sua, steel sales in the first quarter grew 16-18 percent compared with the same period last year, with export value reaching an estimated US$949 million, up 43.3 percent. The import value reached US$19 billion … [Read more...] about Q1 foreign trade soars
The forum was held on the threshold of Free Trade Agreements setting to take effect in the near future, and given the fact that brand competitiveness has been going more fiercely. The 2018 Vietnam Trademark Forum takes place in Hanoi. “A lot of Vietnamese goods have been exported to foreign markets but under foreign importers’ brands, not Vietnamese,” said Nguyen Quoc Thinh – lecturer of Trademark Management at the University of Commerce. It means that Vietnamese firms face barriers in taking control over the quality and processing of for-export products that leads to the situation in which foreign importers still overlook products from Vietnam, Thinh clarified. Given that, he proposed Vietnamese firms should shake their hands in developing brands for their commodities. To that end, in parallel with the support from the Government and relevant ministries, enterprises themselves should raise their sense of pro-activeness in developing brands, … [Read more...] about Forum highlights importance of brand building for sustainable exports
VietNamNet Bridge - Vietnam has one of the highest proportions of import/export turnover to GDP in the region, over 180 percent. The growth of import/export turnover is considered an important target Analysts and policymakers point to the close relations between foreign trade and economic growth, saying that the growth of import/export turnover is considered one of the most important targets by the National Assembly. Vietnam’s proportion of import/export turnover to GDP is higher than the 120 percent of Thailand and Malaysia, and higher than the 40 percent of China, which has been the fastest growing economy in the world in the last four decades. Pham Van Dai, an analyst, in his article in Thoi Bao Kinh Te Sai Gon, pointed out that Vietnam is an outsourcing economy with limited domestic input materials (mostly natural resources such as land, water sources, minerals and cheap labor force). RELATED NEWS Oil & gas loses the ‘throne’ as the biggest … [Read more...] about What is a suitable growth rate of foreign trade for Vietnam?