The shoe factory of the Ha Tay Chemical Weave Co. Ltd in Hanoi's Ba Vi district (Photo: VNA) Hanoi (VNA) – With a record trade surplus of 9.12 billion USD over the first 11 months and year-on-year export growth of 7.8 percent, experts believe that 2019 will be the fourth straight year Vietnam will post a trade surplus. According to the Export-Import Department under the Ministry of Industry and Trade, the country shipped 241.42 billion USD worth of goods abroad between January and November, up 7.8 percent from the previous year. That included 74.72 billion USD exported by domestic businesses and 166.7 billion USD (including crude oil) from foreign invested firms, rising 18.1 percent and 3.8 percent, respectively. The domestic sector’s proportion of total export revenues also increased to 30.95 percent from 29.16 percent. Meanwhile, imports have reached 232.31 billion USD so far this year, up 7.4 percent year on year. The figure includes 98.2 billion USD by … [Read more...] about Vietnam likely to post trade surplus for fourth straight year
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Imports sustain China’s trade despite overall slowdown in growth
Imports of Basic & Industrial Raw Materials, Chemicals & Products and Temperature or Climate Controlled Goods remain positiveRise in exports of Machinery Parts coincides with growing focus on smart manufacturing and high-quality developmentSHANGHAI, CHINA - Media OutReach - 6 December 2019 - The DHL Global Trade Barometer (GTB) indicates a further contraction in world trade for the next three months, with China recording the weakest growth outlook compared to all surveyed GTB countries. China's ocean and air imports in certain sectors[1] look set to remain strong as domestic consumption drives the economy amidst an overall decline in trade growth, according to data from the DHL Global Trade Barometer released by DHL, the world's leading logistics company.The DHL Global Trade Barometer, an early indicator of global trade developments calculated using Artificial Intelligence and Big Data, revealed that China's trade index now stands at 42 points and therefore … [Read more...] about Imports sustain China’s trade despite overall slowdown in growth
Telecom firms expect competitive pressure from EU trade deal
Cautious control Currently, the scale of telecommunication services that Vietnam has committed to open up under EVFTA is similar to its commitments as a member state of the World Trade Organization (WTO). However, the commitment levels in the new trade deal are wider in some services, especially value-added telecommunications services that do not use internet infrastructure. The Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) Tao Quang Phong said cautious control is required in implementing Vietnam’s telecommunications commitments under EVFTA because they are closely associated with information security and have direct, immediate impact on all socioeconomic activities. Over the past decade, Vietnam has been one of the fastest growing telecommunications markets in the region and the world, with revenue of VND395.8 trillion in 2018, a year-on-year increase of 7.3 percent. Vietnam has developed 2G, 3G, 4G technologies and the 5G network is being tested, making … [Read more...] about Telecom firms expect competitive pressure from EU trade deal
New regulation for school milk programme
Students drink milk at a kindergarten in Tu Mơ Rông District, the Central Highlands province of Kon Tum. — VNA/VNS Photo Dương Ngọc HÀ NỘI — Milk drunk in schools must be sterilised and contains 21 micronutrients, according to the latest decision of the Ministry of Health. It will come into play in January. The sterilised milk must ensure the national technology norms based on the Ministry of Agriculture and Rural Development’s regulations, the decision said. The 21 micronutrients must follow regulated amount, including vitamin A, E, C, acid folic and magnesium. The school milk programme was approved by Prime Minister Nguyễn Xuân Phúc in July 2016. Two months later, the Ministry of Health issued a temporary regulation for the programme, but did not mention clearly the amount of micronutrients. At present, 15 provinces and cities are conducting the programme including Hà Nội, Đà Nẵng, HCM … [Read more...] about New regulation for school milk programme
Top legislator, EU trade commissioner talk about EVFTA
Chairwoman of the National Assembly Nguyen Thi Kim Ngan and European Commissioner for Trade Cecilia Malmstrom exchanged ideas related to the signing and ratification of the EU-Viet Nam Free Trade Agreement (EVFTA) and the EU-Viet Nam Investment Protection Agreement (EVIPA) during their meeting in Hanoi yesterday. EVFTA - a lever for Vietnam’s economic growth EVFTA to help improve Vietnam’s competitiveness: researcher Chairwoman of the National Assembly Nguyen Thi Kim Ngan (r) welcomes European Commissioner for Trade Cecilia Malmstrom in Hanoi yesterday. — VNA/VNS Photo Trong Duc The top legislator highly valued the role of the EU and the trade official in promoting the signing of the two agreements. Malmstrom said the signing shows remarkable progress in the relations between Vietnam and the EU which helps reinforce the bilateral partnership and comprehensive cooperation. With the two pacts, the two sides hope bilateral relations will reach further … [Read more...] about Top legislator, EU trade commissioner talk about EVFTA
