Trade

The growth of the agricultural sector hit a 10 year high during the first half of this year. However, export markets have seen unstable developments from the impact of the US-China trade war, the European Commission (EC)’s extension of a yellow card warning on Vietnamese seafood, unpredictable weather and natural disasters are existing difficulties facing the sector in late months of the year. Domestic market faces intense competition as tariffs hit China and the US are the two major export markets for Vietnam’s agricultural products. The tit-for-tat US-China trade war has created dramatic shifts in the import and export policies of the two powerful economies and this will have a knock-on effect on Vietnamese farm produce. Agricultural products from China will have to find alternative markets to make up for the loss of trade resulting from the US’ increase of import duties on Chinese goods. With their plentiful supply, cheap prices and attractive varieties, Chinese … [Read more...] about US-China trade war puts pressure on Vietnamese agricultural products

Experts warn that businesses need to take preventive measures to avoid losing export markets in the coming time. According to the Department of Trade Defence under the Ministry of Industry and Trade, Vietnam has faced a total of more than 130 trade defence lawsuits including 77 anti-dumping lawsuits, 10 anti-subsidy investigations, 22 self-defence investigations and 17 tax avoidance and evasion investigations. Most of these cases have been lodged by the US, Turkey, India, the EU and Australia. Steel products like cold-rolled steel have been selected for regular investigation, with30 lawsuits having been launched. Five trends of trade defence Many nations in the world have erected barriers such as trade defence instruments to restrict free trade. Ms Tran LanHuong from the Department of Trade Defence points out that five trends of trade defence lawsuits will be applied. Firstly, class action lawsuits have become popular practise, which means that a lawsuit is filed by many nations at … [Read more...] about Preventive measures taken to deal with trade defence

Customs officials check the origin of goods. The State should improve the management efficiency in granting certificate of origin for enterprises. — Photo baophapluat.vn The State management efficiency in granting certificates of origin for enterprises needs to be improved to reduce trade frauds. According to Minister and Chairman of the Government Office Mai Tien Dung, it should continue to create favourable conditions for enterprises in the production and export of goods in accordance with international commitments in free trade agreements. Deputy Minister of Industry and Trade Tran Quoc Khanh said to deal with fraud, the State should promote and improve awareness of enterprise' regulations related to certificates of origin (C/O). Speaking during a meeting at the Viet Nam Chamber of Commerce and Industry (VCCI) last week, Khanh said joining the free trade agreements will help reduce cases of origin fraud. This often occurs for goods exported to markets applying … [Read more...] about Strengthening State management efficiency on C/O needed to avoid trade frauds

Spokeswoman of the Foreign Ministry Le Thi Thu Hang (Photo: VNA) Hanoi (VNA) – Spokeswoman of the Foreign Ministry Le Thi Thu Hang responded to reporters’ questions about several issues at a regular press conference on June 20. Replying to a question about some Chinese goods found to be branded as made-in-Vietnam for export to a third country, Hang said the Vietnamese Government will firmly stop and strictly deal with trade frauds and foreign products exported to other markets in the name of Vietnamese goods. Over the last few days, the General Department of Vietnam Customs has taken steps to prevent such acts and protect domestic production, she added. Regarding reports that in the recent past, some Vietnamese fishing boats operating in the waters of Hoang Sa (Paracel) archipelago were driven away and had their assets and fishing tools confiscated, the spokeswoman emphasised that Vietnam has sufficient legal foundation and historical evidence testifying to its … [Read more...] about Spokeswoman makes clear Vietnam’s views on trade fraud, sea-related issues

  Customs officials check the origin of goods. The State should improve the management efficiency in granting certificate of origin for enterprises. — Photo baophapluat.vn HÀ NỘI — The State management efficiency in granting certificates of origin for enterprises needs to be improved to reduce trade frauds. According to Minister and Chairman of the Government Office Mai Tiến Dũng, it should continue to create favourable conditions for enterprises in the production and export of goods in accordance with international commitments in free trade agreements. Deputy Minister of Industry and Trade Trần Quốc Khánh said to deal with fraud, the State should promote and improve awareness of enterprise' regulations related to certificates of origin (C/O). Speaking during a meeting at the Việt Nam Chamber of Commerce and Industry (VCCI) late last week, Khánh said joining the free trade agreements will help reduce … [Read more...] about Better State management on C/O needed to avoid trade frauds