Clam processing at Lenger Seafoods Vietnam Co. Việt Nam and the UK saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic. VNA/VNS Photo HÀ NỘI — After the UK-Việt Nam Free Trade Agreement (UKVFTA) took effect on December 31, 2020, both sides saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic. Statistics from the General Department of Việt Nam Customs showed that total trade in goods between the two nations topped US$657.35 million in January, a year-on-year hike of 78.57 per cent. The Ministry of Industry and Trade described it as an impressive growth, particularly in the context of COVID-19. Notably, Việt Nam’s shipments to the European country hit $598.07 million, or 84.61 per cent higher than the same time last year, and 56.51 per cent higher than December 2020. Exports of agricultural products maintained stable growth in the month, with export revenue of seafood surging 18.1 per cent to $19.72 million, and fruits and vegetables rising 148.6 per cent to $1.04 million. Under the UK trade deal, tariffs levied on Vietnamese shrimp materials is reduced from 10-20 per cent to zero per cent, while more than 94 per cent of 547 tariff lines on Vietnamese fruits and vegetables will be cut to zero per cent. Experts said a wide range of Vietnamese fruits like lychee, longan, dragon fruit, pineapple and rambutan will hold more advantages to access the UK market over those from Brazil, Thailand and Malaysia who have not clinched an FTA with the European country. Việt Nam also saw strong increase in its shipments of telephone and parts (up 371.6 per cent to $252.59 million); machines, equipment and parts (up 109.9 per cent to US$74.58 million); computers and parts (up 91 per cent to $31.82 million), among others. Meanwhile, Việt Nam spent $59.297 million on imports from the UK, up 34.3 per cent year-on-year. Last year, total …
Trade deficit widens 23 in may
HCMC’s imports and exports soar in Jan-Feb period
HCMC’s imports and exports soar in Jan-Feb period The Saigon Times A container ship docks at the Tan Cang-Cai Mep Terminal. HCMC recorded an increase in both imports and exports in the first two months of 2021 – PHOTO: VNA HCMC – HCMC earned nearly US$8 billion in export revenue and spent US$10.92 billion on imports in the first two months of the year, rising over 25% and 53% against last year’s figures, respectively, according to the HCMC Department of Statistics. Without crude oil, the city’s export revenue would amount to US$7.6 billion, up over 26% year-on-year. Specifically, in the two-month period, the city exported wood and wooden products worth over US$220 million, up over 60% versus last year’s figure. The export of machinery, equipment, tools and spare parts fetched US$400 million, up 23%; computers, electronics and accessories saw US$2.57 billion, up over 11% and rice saw US$135 million, improving over 5%. The city’s imports of plastic materials in the year to February surged 52%, fuel products were up by 44% and garment-leather-footwear materials by 16%. Further, China remained HCMC’s largest trade partner. Businesses in the city exported nearly US$1.8 billion and purchased some US$3.3 billion worth of goods to and from China, up some 31% and 78%, respectively, over the figures recorded in the same period last year. The United States was the second largest importer of the city, followed by Japan and South Korea. Meanwhile, Singapore was the city’s biggest exporter. …
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Hundreds of Vietnamese seafood firms permited to export to Taiwan
Taiwan has mainly imported from Việt Nam frozen/fresh tiger and white-leg shrimp and frozen pangasius fillet. Photo baodansinh.vn HÀ NỘI — The Taiwan Food and Drug Administration (TFDA) has announced a list of 697 Vietnamese seafood enterprises permitted to export their products to Taiwan, reported the Việt Nam Association of Seafood Processors and Exporters (VASEP). This list of eligible Vietnamese seafood enterprises is valid from February 23, 2021, according to the TFDA's announcement sent to the Việt Nam Economic and Cultural Office in Taipei, the association said. The VASEP said Taiwan is not among the top 10 seafood export markets of Việt Nam. But this market also has a relatively stable seafood import value from Việt Nam with more than US$100 million per year, accounting for 1.3 to 1.8 per cent of national total seafood exports in recent years. This market mainly imports frozen/fresh tiger and white-leg shrimp, frozen pangasius fillet, processed shrimp, surimi, squid and octopus from Việt Nam. However, due to the COVID-19 pandemic, seafood export turnover to this market in the first half of 2020 decreased by 14 per cent compared to the same period the year before, reaching $50.5 million. Of which, the export value fell by 18 per cent for shrimp to $27 million, 27 per cent for pangasius to nearly $10 million and 4 per cent for other seafood products to $22 million. According to the General Department of Customs, in 2020, Việt Nam's seafood export value to Taiwan was $120 million. Before the pandemic, Nam Việt Joint Stock Company gained an export value of between $5-6 million each year from exporting pangasius to Taiwan. However, since due to the worldwide COVID-19 outbreak, the company's seafood exports to Taiwan have declined. Therefore, it has focused on key markets such as the US and the EU or potential markets in Asia like Thailand and Malaysia that have similar value exports and are also members of the CPTPP agreement, Đỗ …
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