Free trade agreements

The bilateral export turnover reached $22.5 billion, up 13.4 per cent on year, while import value was $58 billion, up 15 per cent. The trade gap for the first eleven months was $35.5 billion, according to the statistics published by the Ministry of Industry and Trade. With this, South Korea becomes the third-largest trading partner of Vietnam, following the United States and China. The two parties expect to reach a $100 billion trade turnover in 2023 and $150 billion in 2030. The two countries expect that the trade turnover between Vietnam and Korea will reach $90 billion for the whole year. Computers, mobile phones, spare parts, and related component rank at the top of groups with billion-dollar export value. Samsung is the largest exporter in Vietnam, reporting a growth of 6 per cent in business and production results in the first half of this year. The rate is expected to increase to 10 per cent for the whole year. The consecutive expansion of South Korean … [Read more...] about Vietnam-Korea trade turnover touches $80.5 billion

Vietnamese Ambassador to Israel Ly Duc Trung at the interview (Photo: VNA) Tel Aviv (VNA) – The 30th anniversary of the Vietnam-Israel diplomatic relations in 2023 opens the door for the Vietnamese Embassy in the Western Asian nation to step up economic-diplomacy-related activities, especially promoting the early approval of a bilateral free trade agreement, affirmed Ambassador Ly Duc Trung. Making his remarks at an interview with the Vietnam New Agency, the diplomat stated Vietnamese Party and State leaders strongly support and facilitate the steady development of the countries’ trade and economic relations, including the coming into being of the Vietnam – Israel Free Trade Agreement (VIFTA), labour cooperation in agriculture, collaboration in innovation and entrepreneurship, and exchange of collective economic models and measures in response to epidemics. The Vietnamese community in Israel is about 500, not to mention hundreds of students who come here every year to … [Read more...] about Embassy works to fortify Vietnam-Israel economic diplomacy

Vietnamese Prime Minister said climate response requires a global approach to ensure people-centered solutions. Vietnam expects to accelerate the negotiation process with the UK and EU regarding the establishment of the Just Energy Transition Partnership (JETP), said Prime Minister Pham Minh Chinh at a meeting with Ambassador of the EU to Vietnam Giorgio Aliberti today [December 6]. Prime Minister Pham Minh Chinh and EU Ambassador to Vietnam Giorgio Aliberti in Hanoi on Dec 6. Source: VGP The world is undergoing an energy transition as climate change has emerged as a global challenge. “This requires a global approach to strengthen solidarity and multilateralism, along with a people-oriented solution that puts the people at the center, the engine and objectives for development,” Chinh said. Such a process, however, should ensure justice and fairness for each country involved, Chinh added. In the case of Vietnam, Chinh called for the EU to assist the … [Read more...] about Vietnam expects to accelerate negotiations for Just Energy Transition Partnership

While receiving Giorgio Aliberti, ambassador and head of the European Union Delegation to Vietnam, in Hanoi on December 6, Prime Minister Pham Minh Chinh assured Vietnam is committed to combating illegal unreported and unregulated (IUU) fishing. PM Pham Minh Chinh (R) receives Giorgio Aliberti, ambassador and head of the European Union Delegation to Vietnam, in Hanoi on December 6. Vietnam is deploying drastic measures to strictly and substantively implement regulations against IUU fishing, including a 180-day action plan to remove the ‘yellow card’ imposed by the European Commission, he said. The EC has imposed the fishing rules since 2017, a move that has hindered the development of the domestic fishery sector and the country’s seafood processing and export. Vietnam is a responsible member of the international community, including in the field of protecting the marine environment and marine ecosystems, said the PM. The Prime Minister requested that the … [Read more...] about Vietnam committed to fighting illegal fishing, PM tells EU ambasador