Vietnam china trade

The two sides engaged in sincere and candid discussion on the sea issue, reaching agreement on further making use of existing negotiation mechanisms for substantive outcomes. Deputy FM Trung voiced Vietnam’s concern about the recent complicated developments in the East Sea and the stance on its legitimate rights and interests in accordance with international law and the 1982 UN Convention on the Law of the Sea. He urged that the two sides promote cooperation and solve disputes in the spirit of respecting each other’s legitimate rights and interests, reached agreements, common perceptions of both sides and international law./. … [Read more...] about General secretaries of Committee for Vietnam–China Bilateral Cooperation hold online meeting

The two sides noted that although a number of bilateral exchange and cooperation activities had been affected by the pandemic, their impacts were only temporary. They agreed that Vietnam-China relations have remained positive, as seen in high-level discussions, and two-way bilateral trade has been maintained. … [Read more...] about Vietnam, China strengthen bilateral cooperation

Hanoi (VNA) - Vietnam reported a trade surplus of 1.9 billion USD in the first five months of this year amid the ongoing complexity for global markets caused by the COVID-19 pandemic. According to the General Statistics Office (GSO), export turnover reached 99.36 billion USD, down 1.7 percent year-on-year. The domestic sector’s export value was 33.3 billion USD, up 10.4 percent compared to the same period last year, while the FDI sector’s exports, including crude oil, were valued at 66.06 billion USD, down 6.9 percent. Commodities seeing strong growth in export value during the period included machinery, equipment, tools, and spare parts with 25 percent; computers, electronic products, and components with 22.1 percent; rice with 17.2 percent; coffee with 2.9 percent; and cashew nuts with 2.2 percent. Those with declining turnover were telephones and components (8.8 percent), textiles (14.5 percent), footwear (4.6 percent), fruit and vegetables (10.3 percent), rubber … [Read more...] about Vietnam posts 1.9bln USD trade surplus in first five months

Vietnam is expected to see a new foreign direct investment (FDI) wave as more foreign companies plan to move investment into the country. The US-China trade has triggered the trend of shifting production lines from China to Southeast Asia and other markets, including Vietnam which was seen as a promising destination. Meanwhile, many countries are fighting against the Covid-19 pandemic while Vietnam has basically controlled the disease, while maintaining its economic growth momentum. Pegatron, Amazon and Home Depot have started recruiting and seeking to open new supply chains with Vietnam being among potential markets.Other US giants like Google and Microsoft have announced their plans to relocate their production facilities of new phones, personal computers and some other devices from China to Southeast Asia with factories in Vietnam and Thailand expected to be the beneficiaries, the Nikkei Asian Review reported.Microsoft is scheduled to start producing its Surface line, including … [Read more...] about More giant foreign firms plan to shift investment into Vietnam

Despite this large sum, the export turnover of a number of agricultural products suffered a downward trajectory in comparison with last year. As a result, the export value of fruit and vegetables fell by 10.3% to US$1.6 billion, while the export of rubber and pepper dropped by 29.6% and 17.9% to US$470 million and US$309 million, respectively. … [Read more...] about Nation racks up US$1.9 billion trade surplus over five-month period