Trade and investment

Deputy Prime Minister Vuong Dinh Hue (right) and his Belarusian counterpart Igor Lyashenko (Photo: VNA) During their talks in Hanoi, they agreed that the two countries will join hands to effectively implement the free trade agreement between Vietnam and the Eurasian Economic Union, and the Vietnam-Belarus protocol on supporting the production of motor vehicles in Vietnam. The move aims to create breakthroughs in the bilateral economic and trade ties, thus raising the two-way trade to 500 million USD in the years to come. At the same time, the two sides will expand collaboration in agriculture, they consented. They rejoiced at the inauguration of the first Vietnam-Belarus joint auto venture, slated for September 26 in Vietnam’s northern province of Hung Yen. The two sides concurred to continue their close coordination in realising the Vietnam-Belarus programme on cooperation in science, education and culture, as well as the bilateral defence and … [Read more...] about Vietnam, Belarus seek ways to forge economic, trade, investment ties

  Hanoi (VNA) – Philippine President Rodrigo Duterte recently called Russia a priority trade and investment market for the Philippines, adding that the Southeast Asian country has worked to bolster the bilateral ties. Speaking at the Philippines-Russia Business Forum in Moscow on October 4, he said the bilateral economic relations have thrived as two-way trade last year doubled the figure in 2017, and has maintained the momentum. Philippine fishery establishments recently gained accreditation to export to Russia and to other Eurasian markets, the leader noted. He said that trade partnerships with Russia would create various opportunities, particularly more jobs for Filipinos. The Philippine President started his five-day visit to Russia on October 2. At his talks with host President Vladimir Putin, the two sides agreed to consolidate the bilateral cooperation towards the building of a robust partnership. During the Duterte’s visit, the two countries inked 10 … [Read more...] about Philippines prioritises trade, investment cooperation with Russia

(Photo: Antara)   Jakarta (VNA) – Indonesia’s Ministry of Trade will revise 18 ministerial regulations considered to be hampering exports and investments, said the country’s officials recently. Foreign trade director general under the Trade Ministry Indrasari Wisnu said of the 18 regulations, 11 relate to imports while seven regulate exports. Some of them could be revoked if needed, he added. Among them, a regulation regulating imports of machinery and devices is set to be revised before the end of Indonesian President Joko Widodo’s first term on October 20, he added. Indonesian Trade Minister Enggartiasto Lukita also hinted at a revision of a 2018 ministerial regulation on used capital goods imports. The revision of the 18 regulations, he said, was crucial for Indonesia to benefit from investment influxes as a result of industry relocations from foreign countries. According to a recent World Bank (WB) report, Indonesia is struggling to attract … [Read more...] about Indonesia to revise 18 regulations to promote trade, investment

Thailand needs to restructure the export, import and investment sectors to cope with mounting external risks.(Photo: thethaiger.com) Bangkok (VNA) – Thailand needs to restructure the export, import and investment sectors to cope with mounting external risks, particularly from the ongoing trade war, the Brexit impasse and the international geopolitical situation, said Boonyarit Kalayanamit, permanent commerce secretary. Boonyarit chaired a meeting on October 7, during which participants said Thailand should work to benefit from a stronger baht, for example importing more raw materials which are cheaper. The meeting also concluded that regulations to promote the import of raw materials need to be amended, while measures or incentives to lure more foreign direct investments, particularly in high technology and innovations, should be introduced. The proposal will be submitted to the Joint Public and Private Sector Consultative Committee on Commerce's meeting, chaired by Commerce … [Read more...] about Thailand needs to restructure to promote trade, investment: official

Launched in 2004, CAEXPO has become an important event for businesses of both sides. It is considered a bridge to promote friendship, strengthen trade promotion, and boost multi-field cooperation between ASEAN and China. The 16th CAEXPO took place in Nanning, capital of China’s Guangxi Zhuang Autonomous Region, on September 21-24, focusing on five main pavilions - commodity trade, investment cooperation, trade in services, advanced technology, and cities of charm. According to the organization board, the Vietnamese pavilion attracted more than 50,000 visits and the value of signed contracts reached more than US$50 million last year. This year, CAEXPO saw the participation of 150 Vietnamese businesses displaying farm produce, food and beverage, household goods, furniture, handicrafts, and processed products, among others. The products were showcased across 250 booths, covering an area of 5,000sq.m. The space allocated for Vietnamese businesses was the largest among the ASEAN … [Read more...] about CAEXPO 2019: Opportunity for regional trade connections