Double digit export growth According to the Hanoi People’s Committee, the export turnover of goods in June 2022 reached about US$1.517 billion, up 6.8 percent from May 2022 and 17.5 percent from June 2021. In the first half of this year, the commodity exports turnover reached US$8.3 billion, up 17.1 percent over the first half of 2021. Some key items with increased export turnover in this period included textile and garment, reaching US$1.22 billion, up 29.6 percent; computer components and peripherals, US$1.072 billion, up 20.2 percent. The total import turnover of goods hit US$3.675 billion in June and US$20.5 billion in the first six months of 2022, the latter of which is 24.5 percent higher than the same period in 2021. Among the items of highest value were machinery, equipment and spare parts reaching US$2.996 billion, down 5.6 percent; petroleum US$2.934 billion, 2.8 times higher than the same period in 2021; computers, electronic goods and components at US$1.535 … [Read more...] about Hanoi helps firms implement trade deals
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UK deal offers gateways to regional trade
Trade in goods between Vietnam and the UK has grown rapidly According to the Ministry of Industry and Trade, two-way trade between the UK and Vietnam reached US$6.6 billion in 2021, an increase of 17.2 percent compared to 2020. The expected recovery of the British economy from the pandemic and growing consumer demand in the UK will offer more opportunities for Vietnam’s exports in the years to come. The UK is currently Vietnam’s third largest trading partner in Europe after Germany and the Netherlands. The UK and Vietnam established a strategic partnership in 2010. The signing of the trade deal was of great significance, preventing an interruption of bilateral trade at the end of the Brexit transition period on December 31, 2020 and promoting post-pandemic economic recovery. In addition, the contents of the UKVFTA are similar to those of the EU-Vietnam Free Trade Agreement (EVFTA), shortening negotiations. Embracing globalization has been one of Vietnam’s core strategies to … [Read more...] about UK deal offers gateways to regional trade
Trade fair looks to expand “One Commune One Product” markets
Many high-quality products are being sold at the event. Through this trade fair, Na Rì cooperative in Bac Kan province hopes to reach more customers in Hanoi capital. While Bac Kan and Ha Giang provinces mainly sold processed products, Lang Son brought to the event its best Chi Lang custard apples. After two years of being seriously affected by COVID-19, this year’s trade fair is expected to help local cooperatives and production organizations to connect markets and attract investment in potential local specialties. This trade fair helps broaden the markets for farm produce with small and large-scale production./. VNA … [Read more...] about Trade fair looks to expand “One Commune One Product” markets
Vietnam, Qatar eye free trade agreement
The countries attempt to strengthen relations on politics, economics, energy, tourism, and manpower to tap potential of both. Vietnam’s Prime Minister Pham Minh Chinh has requested Vietnamese and Qatari authorities to speed up negotiations on a bilateral free trade agreement. Vietnam’s Prime Minister Pham Minh Chinh meets Qatar’s Deputy Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani in Hanoi on August 15. Photo: VGP He requested the two countries to ink an agreement on visa exemption for ordinary passport holders. On the same day, Vietnamese Minister of Foreign Affairs Bui Thanh Son met Sheikh Mohammed bin Abdulrahman Al-Thani, agreeing to boost trade promotion activities, facilitating exports to each market. The top diplomats also agreed to enhance cooperation at international forums, including the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC). Qatari Deputy Prime … [Read more...] about Vietnam, Qatar eye free trade agreement
Hanoi – Vientiane bolster economic ties
Cooperation between Hanoi and Vientiane remains an example of the long-standing and special relations Vietnam-Laos. Hanoi and Vientiane have been taking steps to bolster economic ties during the Vietnam-Laos 2022 Solidarity and Friendship Year. Overview of the “Hanoi-Vientiane Cooperation for Development” investment, trade, and tourism conference. Photo: The Hanoi Times At the investment, trade, and tourism conference titled “Hanoi-Vientiane Cooperation for Development” on August 10, Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen noted the cooperation between Hanoi and Laos’ provinces in general, and with Vientiane in particular, have been progressing in all spheres, including priority fields of economy, healthcare, education, agriculture, military, and people-to-people exchange. Echoing Quyen’s view, Vice Director of the Hanoi’s Department of Planning and Investment Nguyen Ngoc Tu added since 2004, Hanoi has been funding several projects to … [Read more...] about Hanoi – Vientiane bolster economic ties
Vietnam, Qatar mutually waive visas for diplomatic, official passport holders
Vietnam and Qatar yesterday signed an agreement on visa exemption for their diplomatic and official passport holders. Vietnamese Minister of Foreign Affairs Bùi Thanh Sơn and his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al-Thani sign the agreement on August 14. Photo baoquocte.vn The agreement was signed during talks yesterday between Vietnamese Minister of Foreign Affairs Bùi Thanh Sơn and his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al-Thani during the latter’s visit to Vietnam. Minister Sơn emphasised that the visit, the first of its kind by the Qatari minister, is an important milestone in the bilateral relations between the two countries, especially as the two have recently successfully organised the second political consultation between the two foreign ministries and will celebrate the 30th anniversary of the establishment of diplomatic relations between the two countries in 2023. The two ministers highlighted the need to … [Read more...] about Vietnam, Qatar mutually waive visas for diplomatic, official passport holders