Shipping containers at a port operated by the Saigon Newport Corporation in HCMC. Vietnam ran a trade deficit of US$35.2 billion with neighboring China last year, inching up 3.7% against 2019 – PHOTO: VNA HCMC - China remained the largest supplier of goods to Vietnam in 2020 as Vietnam ran a trade deficit of US$35.2 billion with the neighboring country last year, up 3.7% against 2019, according to the Department of Asia-Africa Markets under the Ministry of Industry and Trade. … [Read more...] about Vietnam’s trade deficit with China hits US$35.2 billion in 2020
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Two-way trade between Vietnam, China increases 13.8 percent
Data from the General Department of Vietnam Customs confirmed that two-way trade turnover in 2020 reached over US$133 billion, up 13.8 percent over the same period in 2019. Of which, Vietnam's exports to China reached about $49 billion, up 17.9 percent, and imports from China reached $84.1 billion, up 11.5 percent over the same period. The trade deficit from the Chinese market was over $35 billion, up 3.74 percent compared to 2019. Thus, China continues to be the largest supplier and the second-largest export market of Vietnam after the US. The Asia-Africa Market Department and the Ministry of Industry and Trade cited the statistics report of China Customs that Vietnam has become the eighth largest supplier and the fifth largest export market of China. … [Read more...] about Two-way trade between Vietnam, China increases 13.8 percent
VIETNAM BUSINESS NEWS JANUARY 17
The Ministry of Agriculture and Rural Development is therefore seeking to accelerate negotiations with the Chinese side in order to export a wide range of agricultural products through official channels. In line with this policy, priority will be given to durian, sweet potato, bird's nest, pomelo, passion fruit, avocado, custard apple, coconut, cardamom and pineapple, salted jellyfish, dried sea cucumber, and goby fish. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 17
Organic farmers reap fruit of investment due to growing demand
The increasing demand for clean, quality and safe food is offering opportunities for organic agriculture development Many enterprises in Vietnam are involved in organic agricultural production. Vinamit CEO Nguyen Lam Vien said 65 percent of his company’s products are exported to Japan, China, Malaysia, European countries, and North America. Vietnam can become the kitchen of the world. The number of visitors to Vietnam is expected to double once the Covid-19 pandemic is controlled, and the Vietnamese cuisine’s reputation for natural, healthy ingredients will provide further opportunity to develop organic food for the domestic and export markets, he said. In general, 2020 is the year of organic farming in Vietnam because the Covid-19 pandemic has boosted demand for healthy products. … [Read more...] about Organic farmers reap fruit of investment due to growing demand
