Trade

(VEN) - The Ministry of Industry and Trade (MoIT) recently promulgated Decision 940/QD-BCT, launching an anti-dumping investigation into industrial medium density fiberboard (MDF) imported from Thailand and Malaysia. This is an unprecedented decision since the wood sector became a key exporter of the Vietnamese economy. Vietnam has launched the first anti-dumping investigation into imported MDF products The decision was made based on requests submitted by four domestic MDF producers: VRG Kien Giang MDF Joint Stock Company, VRG Dongwha MDF Joint Stock Company; VRG Quang Tri MDF Joint Stock Company and Kim Tin MDF Joint Stock Company. These firms claimed that industrial wood board products imported from Thailand and Malaysia had been dumped in the Vietnamese market at a margin of 18.59 percent to 50.6 percent. This dumping was the main cause of damage to Vietnam’s MDF production sector, they alleged. The MoIT will send questionnaires to related parties to … [Read more...] about Vietnam launches first anti dumping wood sector probe

    Shirmp is one of Việt Nam's key export commodities. The nation gained a trade surplus of $1.59 billion in the first half of this year. Photo thoibaotaichinhvietnam.vn HÀ NỘI – Việt Nam gained a trade surplus of $1.59 billion in the first half of this year, according to the latest statistics from the General Department of Customs. During the six months of the year, Việt Nam’s total export value reached $122.53 billion, a year on year increase of 7.2 per cent. The growth in export value in the first six months was mainly due to development of exports in the processing and manufacturing sector that had an export value of $102.2 billion, up 9.1 per cent over the same period of 2018. The good performance in the second half of June was behind the trade surplus, according to the general department. The export value in the period from June 16-30 reached $11.23 billion, up 10.4 per cent compared to the first 15 days of June. The goods with … [Read more...] about VN has trade surplus of about $1.6 billion in H1

(VEN) - Under a memorandum of understanding (MoU) signed in 2018 between the Ministry of Industry and Trade (MoIT) and the AEON Group, the Japanese retail giant pledged to support the export of Vietnamese goods via its distribution system, targeting US$500 million by 2020 and US$1 billion by 2025. Shibata Eiji, Vice President of the AEON Group, described the MoU at the AEON suppliers’ conference 2019 that took place for the first time in Hanoi recently. According to Shibata Eiji, Japan began importing Vietnamese Tra fish in 2013 with a modest volume of five tonnes. In 2018, the import volume increased twenty-fold to 100 tonnes. The export of other kinds of Vietnamese goods to Japan, such as suitcases, fashion products and food, has also grown strongly. In 2018, US$250 million worth of Vietnamese goods were exported to Japan via AEON’s distribution system. Unlike many other businesses focusing on one specific area, the AEON Group is determined to maintain its operations in … [Read more...] about AEON targets US$1 billion in Vietnamese goods sales

  VCCI's chairman Đoàn Duy Khương speaks at the forum. — Photo thoibaotaichinhvietnam.vn HÀ NỘI — Việt Nam and Latvia have maintained close diplomatic relations, however, trade relations are not commensurate with the potential of the two countries. The statement was made by the vice chairman of the Việt Nam Chamber of Commerce and Industry (VCCI), Đoàn Duy Khương, at the Việt Nam-Latvia Business Forum held in Hà Nội on Wednesday. In 2017, Việt Nam and Latvia celebrated 25 years of diplomatic relations with important achievements in all fields of politics - diplomacy, economy - trade, security - defence, science - technology, education - training, culture and tourism. The two sides also regularly support each other at international forums. Regarding trade, the two countries have made positive progress in recent years, according to VCCI’s representative. Currently, Việt Nam … [Read more...] about VN, Latvia to boost trade cooperation

(VEN) - Vietnam achieved satisfactory export results in the first four months of 2019, maintaining export growth to major markets, albeit at a slower pace than in 2018. Overall, domestic firms performed better than foreign-invested ones. Textiles and garments remain key Vietnamese exports US$711 million trade surplus Ministry of Industry and Trade (MoIT) data show that in April 2019, the export value reached an estimated US$19.9 billion, down 12.6 percent compared with March. The decrease was attributed to various holidays. In the first four months, the export value grew 5.8 percent compared with the same period last year, exceeding US$78.7 billion. Processing industry-related products continued contributing significantly to the export growth. In the first four months of 2019, the export value of these products grew 7.6 percent compared with the same period last year and accounted for 83.6 percent of Vietnam’s total export value. The list of goods with four-month … [Read more...] about Domestic businesses brighten export picture