Trade pacific partnership

Greener trade and investment is crucial to tackling climate change in Asia and the Pacific and will require governments in the region to work together more closely, according to a new report by the Asian Development Bank (ADB). While trade and investment have fueled remarkable economic growth in Asia in recent decades, it has also led to large increases in carbon dioxide emissions in the region—which is more vulnerable to the effects of climate change than any other. Reversing this trend will require measures such as promoting trade in environmental goods and services, nurturing green businesses, developing carbon pricing mechanisms, and strengthening regional cooperation through trade and investment agreements, according to the Asian Economic Integration Report (AEIR) 2023, released by ADB today. “Asia and the Pacific’s remarkable growth has lifted millions of people out of poverty, but this has come at an environmental cost,” said ADB Chief Economist Albert Park. “The region now … [Read more...] about Sustainable trade and investment key to Asia and Pacific’s green future

Illustrative image (Photo: xinhua/VNA) Phnom Penh (VNA) – The Cambodia n Government has been pushing for the establishment of more bilateral free trade agreements (FTAs) with main trade partners in order to expand export markets for its products. The country's Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth said that the United Arab Emirates, India, Japan, Eurasian Economic Union (EAEU), Canada, and American Latin countries are in the plan for bilateral FTA negotiations. Speaking at the Ministry of Commerce’s recent annual meeting, Aun Pornmoniroth asked the ministry to continue boosting the export of goods and service to the existing markets and expanding new markets. The ministry has to conduct extensive consultations with stakeholders on the benefits from the bilateral trade agreements, he added. Currently, Cambodia has two bilateral FTAs with China and the Republic of Korea, which came into force in January and December 2022, … [Read more...] about Cambodia eyes more bilateral free trade agreements

At the reception for Tatsuo Yasunaga, President and CEO of Mitsui & Co Ltd., the Government leader praised the company’s business performance in Vietnam, particularly in processing and distributing of local aquatic products. PM Phuc welcomed a joint project between Mitsui and Minh Phu Seafood Corporation which could push the shrimp export value of the major shrimp farming business in Vietnam to 1 billion USD. Yasunaga informed his host of the success of the joint project, which has seen over 150 million USD invested in improving Minh Phu’s processing, business management and export capacity, adding the sides plan to focus on upgrading refrigeration equipment and expanding export markets, particularly targeting Russia apart from the US. In another meeting with Han Chang-woo, chairman and CEO of Maruhan Corporation, PM Phuc said Vietnam is pressing ahead with effective equitisation of Stated-owned enterprises (SOEs), particularly in transport, infrastructure, construction, … [Read more...] about PM meets with leaders of Japanese conglomerates

Vietnamese Prime Minister Pham Minh Chinh, his spouse, and a high-ranking Vietnamese delegation will pay official visits to Singapore and Brunei Darussalam from February 8 to 11, the Ministry of Foreign Affairs announced on Sunday. The visits will be made at the invitations of Singaporean Prime Minister Lee Hsien Loong and Brunei Darussalam Sultan Haji Hassanal Bolkiah, respectively. This will be PM Chinh’s first visits to these two countries after assuming his prime minister position, and a visit by a Vietnamese prime minister to Singapore after five years and to Brunei Darussalam after 15 years. The visit to Singapore will be paid on the occasion of the 50th anniversary of the diplomatic relations between the two countries and the 10th anniversary of their strategic partnership. The two sides had many high-ranking delegation exchange activities last year, including Vietnamese State President Nguyen Xuan Phuc’s visit to Singapore in February and Singaporean President Halimah … [Read more...] about Vietnamese PM to pay official visits to Singapore, Brunei

Acting President Vo Thi Anh Xuan (R) and Brazilian Ambassador to Vietnam Fernando Apparício da Silva. (Photo: VNA) Hanoi (VNA) – Acting President Vo Thi Anh Xuan has hailed outgoing Brazilian Ambassador to Vietnam Fernando Apparício da Silva ’s contributions to consolidating the practical and effective development of Vietnam-Brazil comprehensive partnership during his tenure. During a reception for the diplomat in Hanoi on February 6, Xuan affirmed that Vietnam always wishes to further strengthen its ties with Brazil, one of the top important partners in Latin America. She suggested both nations continue facilitating the exchange of delegations at all levels, especially those at the high level to boost the bilateral relationship.  Vietnamese leaders also wished to welcome Brazilian President Luiz Inacio Lula da Silva to visit Vietnam soon, Xuan said. Speaking highly of the development of bilateral economic and trade ties, Xuan expressed her hope that the two … [Read more...] about Acting President receives outgoing Brazilian Ambassador

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. - Vietnamese Ambassador to Singapore Mai Phuoc Dung has highlighted the significance of Prime Minister Pham Minh Chinh’s coming official visit to the city state, the first among many events to be held in both countries to mark the 50th anniversary of their diplomatic ties and 10 years of the strategic partnership. PM Chinh, his spouse, and a high-ranking delegation of Vietnam are paying an official visit to Singapore from February 8 to 10. Read full story - Two-way trade revenue between Vietnam and Laos in 2022 grew 24% from the previous year to reach some 1.7 billion USD, beyond expectations of their leaders at the 44th meeting of the Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation earlier last year. Read full story - Jeju Air Co., the biggest low-cost carrier of the Republic of Korea, said on February 6 that it will resume many routes to Vietnam … [Read more...] about ☕ Afternoon briefing on February 6

Vietnam’s seafood export turnover stood at less than $600 million last month, down 31% year-on-year, according to data from the Association of Seafood Exporters and Producers (VASEP). Pangasius values dropped a whopping 50%. In the last quarter of 2022, pangasius fish export turnovers stood at $475 million, a year-on-year decrease of 12%. However, according to VASEP, pangasius fish exports may be the seafood export industry’s best prospect for 2023, thanks to demand from Vietnam’s two largest markets: China and the U.S. Last year, China and the U.S. accounted for 30% and 23% of Vietnam’s pangasius exports, respectively. And experts say those numbers could increase significantly this year. China’s reopening early last month will help restore consumer confidence, promoting trade between the East Asian economy and Southeast Asia, according to David Liao, co-CEO of HSBC Asia-Pacific. The reopening will help facilitate the export of many Vietnamese products, including pangasius … [Read more...] about Shipments to US, China could rescue slumping pangasius fish exports

At a meeting with Saintes Mayor Bruno Drapron, the city's department of commerce and trade, representatives from Nouvelle-Aquitaine region and the local farmers’ association, Ambassador Dinh Toan Thang highlighted cooperation potentials between the two countries’ localities in various fields such as agriculture, sustainable tourism development, railway, seaport and technical infrastructure. For his part, the mayor said that the city will study how to transfer skills and technology to Vietnamese partners and acquire experiences and technique from the Vietnamese side, as well as work together with the Vietnamese side to strengthen cooperation between the localities of the two countries in the time ahead. During his trip, the ambassador visited Chadignac vocational school which has cooperated with Vietnam’s Thang Long Gifted School in Da Lat (the Central Highlands province of Lam Dong) in French language teaching, the first step towards bigger projects. The ambassador and his … [Read more...] about Ambassador promotes cooperation between France’s Saintes and Vietnamese localities