Strategic partnership agreements

Singaporean Minister-in-charge of Trade Relations S Iswaran and European Commissioner for Internal Market Thierry Breton sign the EU-Singapore Digital Partnership on February 1, 2023. (Photo: channelnewsasia) Brussels (VNA) – The European Union ( EU ) and Singapore on February 1 signed in Brussels the EU-Singapore Digital Partnership (EUSDP) that will lead to a digital trade agreement to enable consumers and businesses to transact online more seamlessly and at lower costs. The pact aims to boost participation in the digital economy by imparting relevant skills to workers in both jurisdictions and transforming their businesses and public services. Other areas of collaboration include digital trade facilitation, trusted data flows, electronic payments and standards. The deal will also focus on emerging areas such as artificial intelligence, digital identities, and 5G/6G communication networks. Signatories were Singapore’s Minister-in-charge of Trade Relations S. … [Read more...] about EU- Singapore launch digital partnership

Hanoi (VNA) – The US and the Philippines on February 2 announced their agreement to give US forces access to four additional bases in the Southeast Asian country. In a joint statement, US and Philippine defence officials clearly stated that the two sides have agreed to expand their current bilateral defence agreement to four more bases in strategic areas of the Philippines. Under the agreement, Washington will be granted access to the four bases following the Enhanced Defense Cooperation Agreement (EDCA) which became effective in 2014, allowing the US to rotate troops and to build and deploy facilities at Philippine bases. Meanwhile, the Philippine Department of National Defence said that the US has spent more than 82 million USD on infrastructure projects at five underway facilities in the Philippines. The statement was released during US Secretary of Defence Lloyd Austin’s visit to the Philippines./. VNA … [Read more...] about US, Philippines expand bilateral defence agreement

Officials of Mong Cai and Dongxing cities at a ceremony marking the 93rd founding anniversary of the Communist Party of Vietnam on February 2 (Photo: VNA) Quang Ninh (VNA) – A delegation of the Communist Party of China (CPC) Committee of Dongxing city in the Guangxi Zhuang Autonomous Region of China on February 2 visited Mong Cai city in Vietnam's northeastern border province of Quang Ninh to attend activities marking the 93rd founding anniversary of the Communist Party of Vietnam (CPV). This was the first in-person exchange between Dongxing and Mong Cai after a nearly-three-year hiatus caused by the COVID-19 pandemic. Secretary of the Dongxing CPC Committee Peng Shaoguan offered congratulations on the CPV’s 93rd anniversary (February 3, 1930 - 2023) and presented gifts to the CPV organisation, administration, and people of Mong Cai. He expressed his wish for continued enhancement of comprehensive and sustainable cooperation between the two localities and their … [Read more...] about Dongxing delegation visits Mong Cai to attend CPV’s 93rd anniversary celebrations

Malaysia’s external trade activities are expected to expand steadily beyond 2023. (Photo: businesstoday.com.my) Kuala Lumpur (VNA) – Malaysia’s external trade activities are expected to expand steadily beyond 2023 amid the impact of new trade agreements, apart from elevated commodity prices and lower interest rates, according to a research released on February 2 by Malaysian Industrial Development Finance Berhad ( MIDF ). The research house said the Regional Comprehensive Economic Partnership ( RCEP ) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) were also expected to lift the external trade performances in 2024. As of 2022, RCEP members contributed 58.1% of Malaysia’s total trade while CPTPP members accounted for 27.5%, it noted. Under those two free trade agreements (FTAs), Malaysian products are able to penetrate into wider markets while imported goods become cheaper. Hence, Malaysia ’s exports and imports growth rates … [Read more...] about RCEP, CPTPP to boost Malaysia’s external trade beyond 2023

Vietnamese athletes will get US$1 million for each gold medal at the 2024 Paris Olympic Games, $500,000 for silver, and $200,000 for bronze. The bonuses, which are the biggest rewards ever offered in Vietnam’s sports history, result from a deal signed by the Vietnam Olympic Committee (VOC) and a strategic partner of the International Sports Funding & Support Association (ISF) in South Korea that will sponsor the entire amount. As per the agreement, some key Vietnamese athletes and teams will go to South Korea for training. Dang Ha Viet, general director of the General Sports Administration of Vietnam under the Ministry of Culture, Sports, and Tourism, affirmed the ISF support will create a 'golden' chance for Vietnam to elevate its rankings in the regional, continental, and global arenas. The 2024 Summer Olympics are scheduled to take place from July 26 to August 11, 2024 with Paris as its main host city alongside 16 other French cities. At the 2020 Tokyo Olympics held … [Read more...] about Vietnam athletes offered $1mn for winning Paris Olympic gold medal

Chairing the Government’s monthly teleconference with localities on February 2, PM Pham Minh Chinh requested keeping a close watch on the domestic and foreign market situation. He asked for extensive monitoring of product price and inflation to enable a quick response to the current situation. He also requested timely forecasts and risk warnings while adopting a sound, flexible and effective monetary policy in close and synchronous combination with monetary, fiscal and other policies. The PM also requested that associated ministries ensure the liquidity and safety of credit organizations, gearing credit into production and trade, priority areas and growth pillars. Another important topic is stepping up cashless payment, while tackling difficulties for real estate market, prioritizing capital for transparent and effective enterprises, and enhancing social investment attraction and public-private partnership. Localities need to take initiative for the disbursement of public … [Read more...] about Macro-economic stability, inflation control continue to be priority: Prime Minister

Seafood exports reached a record 11 billion USD in 2022, up 24% year-on-year and 22% higher than the year’s target of 9 billion USD. (Source: VNA) HCM City (VNS/VNA) - Despite huge challenges, the seafood sector in 2022 posted a new record in export value of 11 billion USD, up 24% year-on-year and 22% higher than the year’s target of 9 billion USD. Le Hang, communications director of the Vietnam Association of Seafood Exporters and Producers (VASEP), said that this was the highest export value in more than 20 years. Of the amount, shrimp exports hit a record 4.3 billion USD, pangasius exports reached 2.4 billion USD, and tuna exports were 1 billion USD, she added. Vietnam’s largest seafood export markets are the US, Japan, China and the EU. Seafood exports to the US reached more than 2.1 billion USD last year. Meanwhile, exports to China hit a record 1.8 billion USD, up 57% year-on-year. Exports to the EU and the Republic of Korea brought in 1.3 billion USD and 950 … [Read more...] about Seafood exports reach record 11 billion USD in 2022, challenges ahead