Rice exporters association of pakistan

Between the beginning of the year and mid-February, the country's export turnover recorded an impressive surge of 36% to US$38 billion compared to the same period from last year, while imports also increased by approximately 25%, according to the Ministry of Industry and Trade (MoIT). Hai emphasized that this year's export target of between 4% and 5% remains reasonable due to the COVID-19 pandemic not being brought under complete control across the world, especially in major Vietnamese export markets. Following the signing of three FTAs, including the EU-Vietnam Free Trade Agreement (EVFTA), the Regional Comprehensive Economic Partnership (RCEP), and the UK-Vietnam Free Trade Agreement (UKVFTA), they are anticipated to give fresh impetus to the nation’s import and export activities. After coming into force last year, each of the FTAs, especially the EVFTA and RCEP, represent large-scale agreements that the nation can benefit from, Hai noted. He elaborated that when the EVFTA first came into effect on August 1, 2020, the number of certificate of origin (C/O) forms of EUR.1 for Vietnamese exports to the EU market increased dramatically. The move indicates that local businesses have immediately maximised the benefits brought about by the trade pact. Furthermore, despite the range of adverse impacts caused by the COVID-19 pandemic on the EU market last year, Vietnamese exports to the fastidious market witnessed robust growth in terms of traditional goods and new commodity groups, especially wooden products. Hai therefore pointed out that with these agreements being implemented in a comprehensive manner and the pandemic gradually being brought under control, Vietnamese production and export activities will witness stronger growth moving forward. …

[Read more...] about MoIT sets export growth target of up to 5% despite COVID-19 challenges

The Hanoitimes - It is important to avoid stagnation during the transportation process of input materials for production and of agricultural products in Covid-19-hit-areas, Deputy Prime Minister Trinh Dinh Dung has said. Deputy Prime Minister Trinh Dinh Dung instructed local authorities to soon clear the hurdles for the smooth distribution and sale of farm produce affected by the Covid-19 pandemic. People in Danang are buying farm produce from Hai Duong province. Photo: Quang Hai. Over the past few days, the fact that Hai Duong province became a pandemic hotspot has caused difficulties for traders to ship agricultural products out of the province, due to strict anti-Covid-19 measures imposed by neighboring localities. Under this context, Deputy PM Dung requested related government agencies and provinces/cities, including the Ministry of Health, Ministry of Transportation, and Ministry of Agricultural and Rural Development, to create favorable conditions for the movement of goods for timely exports and distribution. “This is particularly important for input materials for production and agricultural products in Covid-19-hit-areas,” said Dung, adding it is important to avoid stagnation during the transportation process and  disruption to economic activities. Meanwhile, the Ministry of Industry and Trade is tasked with promoting and expanding consumption markets for Vietnamese goods and products  both at home and abroad. A report from Hai Duong Department of Industry and Trade revealed over 90,000 tons of agricultural products are facing sales stagnation. “If not properly resolved, the issue could impact the supply chains and cause disruption to economic activities of multiple provinces/cities,” said Pham Thanh Hai, director of Hai Duong Department of Industry and Trade. According to the MoIT, the main reason is that drivers from high risk areas are required to have Covid-19 negative testing result certificate, but health facilities …

[Read more...] about Deputy PM instructs measure to boost consumption of farm produce amid Covid-19

In its article, the leading financial newspaper of Japanese media giants Nikkei Inc., said Vietnam is targeting a growth rate of 6.5% this year. The agency stated Vietnam’s exports will likely continue to be supported by US tariffs on Chinese goods and that in order to avoid US tariffs, importers have shifted demand from China to alternative suppliers, with this trend likely to continue. According to the agency, before the pandemic, Southeast Asia achieved collective annual growth of about 5% for many years, making it one of the world's best-performing regions. The region also became an attractive investment destination, with a relatively young population driving demand and providing plenty of labour. These advantages remain in place, but first the region needs to stamp out COVID-19. Nikkei also reported that Southeast Asian economies are aiming to this year regain the growth momentum they had before the COVID-19 pandemic caused historic declines in 2020. A look at early forecasts around the region, however, shows a wide range of scenarios as risk continues to lurk. The agency said that Singapore hopes to achieve its forecast of gross domestic product growth of 4% to 6% for 2021, Indonesia expects GDP to grow by between 4.5% and 5.5% this year, the Philippines projects a growth range of 6.5% to 7.5%, while Thailand has lowered its targets, revising its 2021 forecast down to between 2.5% to 3.5% growth. …

[Read more...] about Vietnam’s economy to be Southeast Asia’s growth leader in 2021: Nikkei