Vietnam imports and exports 2015

According to the Ministry of Industry and Trade, 72 countries recognize Vietnam as a market economy, including Canada, Australia, Japan, and South Korea. The UK did so recently with an official letter to the effect. Speaking to VnExpress , a Trade Remedies Authority Department official said since its first anti-dumping investigation case against Vietnam in 2002 the U.S. had been considering the country a non-market economy. In a meeting with the U.S. Secretary of Commerce Gina Raimondo in Washington last Tuesday, Prime Minister Pham Minh Chinh proposed the U.S. to soon recognize Vietnam’s market economy status . The need for recognition of Vietnam's market economy status was also in the joint statement between General Secretary Nguyen Phu Trong and President Joe Biden on upgrading the two countries' relations to a Comprehensive Strategic Partnership. The EU also sees Vietnam as a non-market economy. In 2015, while free-trade agreement negotiations were underway, the EU … [Read more...] about Significance of Vietnam being a market economy

Illustrative image (Photo: nongnghiep.vn) Hanoi (VNA) – Amidst the increasing demand for raw materials in the food, cosmetics, and pharmaceutical industries, and Vietnam’s participation in various free trade agreements, the country’s herbal products, particularly cinnamon and star anise, are well-positioned to capitalise on the opportunity for development, heard a conference in Hanoi on September 28. Addressing the event, Vu Ba Phu, Director of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade stressed that with a diverse and abundant source of medicinal herbs, Vietnam boasts great potential and advantages to develop this field into an economic industry. | The cinnamon cultivation area in Vietnam stands at about 150,000 ha, accounting for 17% of the global cinnamon area. Vietnam is the third largest producer and exporter of cinnamon in the world in terms of output, after Indonesia and China. Meanwhile, very few countries have star anise – the plant … [Read more...] about Conference looks for ways to boost exports of herbal products

The People’s Committee of Binh Duong Province in southern Vietnam and the Vietnam Railways on Wednesday debuted an international multimodal train transporting cargo from Song Than Station to China. The train with 19 carriages carried nearly 500 metric tons of tapioca starch. The train departed from Song Than Station the same day, and is set to arrive in Putian, Zhengzhou in China’s Henan on October 5. Attending the inauguration ceremony, Le Manh Ha, CEO at T&T Trade and Service Company, said that the demand for freight transport to China is high. Firms can now conduct export procedures at Song Than Station, instead of any border station. The launch of the international multimodal transport train services has smoothed the path for local importers, exporters, and logistic service providers. Dang Sy Manh, chairman of the Vietnam Railways, said that Song Than Station is capable of handling 1.6 million metric tons of cargo, mainly consumer goods, garments and textiles, … [Read more...] about Vietnam’s Binh Duong launches int’l multimodal freight train to China

The European Union (EU) will apply five assistance tools to Vietnam’s multifaceted development plan, as well as rapidly resolve its Illegal, Unreported and Unregulated (IUU) fishing ‘yellow card’ warning against the Southeast Asian country, the new EU ambassador to Vietnam recently announced. Ambassador Julien Guerrier was speaking at his first media meeting in Hanoi on Wednesday, one day after taking office and presenting his letter of credentials to Vietnamese State President Vo Van Thuong. Vietnam is an important EU partner in its Indo-Pacific strategy and the EU is one of Vietnam’s most reliable and long-standing friends and partners, Guerrier affirmed. The new ambassador pledged that during his four-year term, the EU will continue to help Vietnam realize its vision of becoming a developed economy by 2045 and achieving net-zero emissions by 2050. To that effect, the EU will provide Vietnam with five support tools, the first of which is to continue promoting the … [Read more...] about EU to offer 5 support tools to Vietnam, address IUU fishing warning soon: new ambassador

The train consists of 19 carriages carrying about 500 tonnes of tapioca starch. It departed from Song Than station and is scheduled to arrive in Putian, Zhengzhou in the Chinese province of Henan on October 5. It marked the first time the station has been involved in the local export-import activities. Speaking at the event, Director of Binh Duong provincial Customs Department Nguyen Tran Hieu said Binh Duong has risen to the third place nationwide in terms of exports-imports, about 40% of which has been with China, mostly via waterway and partly by road. Last year, Song Than station handled over 1.6 million tonnes of goods, mostly electronic equipment, automobiles, food, raw materials for production, and products manufactured for industrial zones in Binh Duong, Dong Nai and Ho Chi Minh City. Chairman of the VNR Board of Members Dang Sy Manh said during the 2025-2030 period, Song Than station is expected to handle 3.5 million tonnes per year, becoming a major cargo hub in … [Read more...] about Train carrying exports to China from southern Binh Duong province debuts

The train carries goods from Sóng Thần station in Bình Dương Province to China. — Photo baobinhduong.vn Authorities in southern Bình Dương Province, in collaboration with the Vietnam Railways Corporation (VNR), conducted a ceremony on Wednesday to inaugurate an international multimodal train route for transporting goods from Sóng Thần Station to China. This train convoy comprises 19 carriages carrying approximately 500 tonnes of tapioca starch. It commenced its journey from Sóng Thần Station and is scheduled to reach its destination in Putian, Zhengzhou, located in China's Henan province, on October 5. This marks the first instance of the station participating in local export-import activities. Addressing the event, Nguyễn Trần Hiếu, Director of Bình Dương Provincial Customs Department, highlighted that Bình Dương has risen to the third position nationwide in terms of exports and imports, with about 40 per cent of these transactions being with China, primarily through … [Read more...] about Train carrying exports to China from southern Bình Dương Province debuts

In Vietnam, the import of wild-caught lobster larvae is under strict control because of short supply, yet the smuggling of this in-demand shellfish remains rampant on social media, posing immeasurable risks. Many raft owners in Cam Ranh City, Khanh Hoa Province find it difficult to import official lobster larva shipments, while some online sellers offer lobster larvae in great numbers and with plenty of pricing. When buying lobster larvae becomes a gamble Despite being aware of numerous risks in quality, many consumers still go for buying lobster larvae online. "Vendors vaguely claimed that these infant lobsters hailed either from Indonesia or the Philippines,” said Le Phuong Dung, a buyer in Cam Linh Ward, Cam Ranh City. The price per lobster larva peaked at VND60,000 (US$2.46) in July and August, while each cost about VND40,000 ($1.64) at the moment, said Dung. Besides purchasing from a regular contact, she usually orders lobster larvae online as this kind of trading … [Read more...] about Lobster larvae increasingly smuggled into Vietnam

SINGAPORE/HANOI -- Singapore's sovereign wealth fund GIC is among investors vying to buy up to 20 percent stake in grocer Bach Hoa Xanh from Vietnam's retail giant Mobile World Investment, in a deal that could value the grocery chain at up to $1.7 billion, two sources said. GIC declined to comment. Other bidders include companies from Thailand, the sources added, declining to be named as the matter is private. The identity of the potential buyers has not been reported previously. "The deal is nearing to the finalising stage and expected to close soon," one of the sources with knowledge of the matter said, adding that a deal could be sealed as early as the first quarter of next year if negotiations are successful. In a statement to Reuters , Mobile World said it would announce the information once the deal was concluded. "We are still in a private placement and have signed an agreement not to disclose information with interested bidders," it said. The potential deal would … [Read more...] about Singapore’s GIC among bidders vying for stake in Vietnam’s third largest grocery chain

At the meeting between NA Vice Chairman Tran Quang Phuong (L) and President of the Senate of Chile Juan Antonio Coloma (Photo: VNA) Buenos Aires (VNA) – A delegation of the Vietnamese Natio na l Assembly led by its Vice Chairman Tran Quang Phuong paid a working visit to Chile from September 23 – 27. During his stay in Chile, NA Vice Chairman Phuong held talks with President of the Senate of Chile Juan Antonio Coloma, Vice President of the House of Representatives Daniella Cicardini, and met with President of the Communist Party of Chile Lautaro Carmona. He had working sessions with other officials from the House of Representatives, the Chilean Navy, and the Chile – Vietnam Friendship Parliamentary Group. At the meetings, Phuong congratulated the government and people of Chile on the achievements across all economic, political, and social fields they have attained under the leadership of the ruling left-wing coalition . He thanked the Chilean people and progressive, … [Read more...] about Vietnam, Chile eye stronger friendship, cooperation

Deputy Foreign Minister Ha Kim Ngoc addresses the conference in Hue city, Thua Thien - Hue province, on September 28. (Photo: VNA) Thua Thien - Hue (VNA) – The Government has strongly ordered ministries, sectors, and localities to provide the best possible conditions for foreign non-governmental organisations (NGOs) to operate effectively and stably, Deputy Foreign Minister Ha Kim Ngoc affirmed at a conference on September 28. The conference, held in Hue city by the Ministry of Foreign Affairs (MoFA) and the Thua Thien - Hue provincial People’s Committee, focused on the implementation of the Government’s Decree No 58/2022/ND-CP, dated August 31, 2022, on the registration and management of foreign NGOs in Vietnam. It was attended by over 200 representatives from ministries, central agencies, localities, and foreign NGOs in Vietnam. Addressing the event, Deputy Minister Ngoc, who is also head of the working committee on foreign NGOs, said foreign NGO affairs form an … [Read more...] about Vietnam provides best possible conditions for foreign NGOs: official