China vietnam free trade

Shrimp is a strong export to Australia According to the Ministry of Industry and Trade, in 2008, Vietnam exported goods worth US$4.591 billion to Australia, but a decade later exports declined to US$4.5 billion in 2018. In the first nine months of this year, exports to this market dropped five percent to US$2.5 billion compared to the same period last year. Australia became the 13th largest importer of Vietnamese goods, lagging far behind the US, China, Japan, and the Republic of Korea (RoK). The ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) came into effect in 2010, but businesses in Vietnam and Australia face difficulties in building up sustainable partnerships, largely due to Australia having the most stringent quarantine and product safety regulations in the world. It also maintains many strict technical barriers, making access to its market difficult. Thus, while Australia imported an average amount of such Vietnamese export staples as shoes, garments and … [Read more...] about Vietnam’s fruit, seafood exporters up against tough Australian rules

  Officers of Cốc Nam Customs Department in Lạng Sơn Province, which shares a border with China, perform a check on imported products. — VNA/VNS Photo Hoàng Hùng HÀ NỘI — Economic and trade relations between Việt Nam and China have been developing in a positive direction, as shown by the continuous increase of bilateral trade turnover between the two countries. Việt Nam is fast becoming an attractive investment destination for Chinese enterprises. According to the Foreign Investment Agency under the Ministry of Planning and Investment, China invested about US$1.6 billion in Việt Nam in the first fourth months of this year, making it the country’s fourth largest source of foreign investment. Several large projects were funded by Chinese investors in the period including a tire manufacturing project with total registered capital of $280 million in the southern province of Tây Ninh and another tire … [Read more...] about Việt Nam, China trade ties continue to develop

Deputy Minister of Foreign Affairs Nguyen Quoc Dung, also head of Vietnam’s ASEAN Senior Officials’ Meeting (SOM), speaks to Vietnam News Agency about the country’s ASEAN chairmanship role in 2020. Deputy Minister of Foreign Affairs Nguyen Quoc Dung.  2020 is the second time Vietnam will take ASEAN chairmanship. The first time was in 2010. How do you view the regional context and Vietnam’s position this time around? There are a lot of differences when Vietnam takes over ASEAN chairmanship next year compared to 10 years ago. The world’s situation has changed rapidly and strong competition among countries has multi-dimensional impacts on ASEAN, posing many challenges ASEAN has to adapt to. However, I think they also bring opportunities for ASEAN, such as from the Fourth Industrial Revolution or Industry 4.0. In 2020, Vietnam will also be a non-permanent member of the UN Security Council for the 2020-21 period. How will this role contribute … [Read more...] about Vietnam aims to boost ASEAN consensus as chairman

During the reception, Dung highlighted the growing time-honoured relationship across multiple fields such as politics, economy, trade and culture, reflected through people-to-people diplomacy and regular meetings at all levels. He welcomed the Mongolian minister’s visit which takes place at a time when both nations are celebrating the 65th founding anniversary of diplomatic ties. However, Dung stated that economic, trade and investment partnerships between the two countries is still far from meeting potential and expectations of both sides. Last year's two-way trade hit only US$31.5 million, down 53.6 percent over 2017, he noted, while underlining the need for the two sides to maintain regular delegation exchange and high-level meetings, and improve the efficiency of the inter-governmental committee mechanism. The Deputy PM suggested dealing with problems during the cooperation process, stepping up connections between business communities and markets of the two nations, … [Read more...] about Vietnam, Mongolia wish for stronger economic, trade links

Lumitel, Viettel Group's mobile operator in Burundi. Viettel is among a number of Vietnamese pioneering companies investing in Africa. — Photo courtesy of Viettel Bilateral trade between Viet Nam and African economies has made significant growth in the past decade, however, there is still room for improvement. Two-way trade jumped 250 per cent to US$6.6 billion in 2018 from $2.52 billion in 2010, Deputy Minister of Foreign Affairs Dang Minh Khoi told a seminar on Friday. During that time, Africa became a favourite destination for Vietnamese companies that operate in telecommunications, agriculture and education such as the military-backed telecom group Viettel, he said. The two sides had also made improvements in political, social and diplomatic relations. Those facts prove the potential of bilateral co-operation between Viet Nam and African nations is huge, Khoi added. General Secretary of the International Organisation of la Francophonie (IOF) Louise Mushikiwabo said Africa … [Read more...] about Experts call for risk management to boost VN-Africa bilateral trade