A historic agreement The European Union (EU) and the Association of Southeast Asian Nations (ASEAN) started negotiations for a region-to-region free trade agreement in 2007. After negotiations were suspended in 2009, the EU decided to pursue bilateral trade agreements with the individual ASEAN member states. Negotiations between the EU and Vietnam on a free trade agreement were launched in 2010. Following the completion of technical discussions, talks were finalized in December 2015. In February 2016, the full text of the EVFTA was published. However, the official signing of the trade deal was delayed due to the pending judgment of the Court of Justice of the European Union (CJEU) on jurisdiction for the conclusion of the EU-Singapore Free Trade Agreement. To take the 2017 CJEU opinion into account, the original deal was split into the EVFTA and the EU-Vietnam Investment Protection Agreement (EVIPA) in June 2018. Both agreements were signed on June 30, 2019 in Hanoi. The European … [Read more...] about EU trade deal offers opportunities to increase exports
Vasep vietnam association of seafood exporters and producers
Illustrative photo (Source: VNA) Hanoi (VNA) – Vietnam posted 27.88 billion USD worth of agro-forestry-fishery exports in the first half of this year, an annual increase of 13.9%. According to the Ministry of Agriculture and Rural Development, of the total value, the groups of key farm produce and forestry products contributed 11.37 billion USD and 9.1 billion USD, both growing by 8.8% and 3% year-on-year, respectively. Fishery products shipped overseas during the six months, meanwhile, reeled in 5.8 billion USD, up 40.8% annually. There were nine type of goods recorded an export revenue exceeding 1 billon USD in the period, namely coffee, rubber, cashew, vegetable-fruit, rice, Tra fish, shrimp, woodwork products, and inputs for production. The ministry said the US and China were the biggest importers of Vietnamese agro-forestry-fishery goods for spending more than 7.61 billion USD and 4.97 billion USD, increasing 7.9% and 5.9% from the same period last year, … [Read more...] about Agro-forestry-fishery exports rake in 27.88 billion USD in 6 months
"If we do not operate regularly, we will lose our slots at bus stations, but the more we operate, the more we lose because of surging costs," Do Van Bang, CEO of Sao Viet’s parent company, Minh Thanh Phat, said. Sao Viet has reducing the number of trips to cut costs. Bang said the only way to break even is to increase fares by 15-20 percent, but with competition being intense, the time is not right for it. But the company would not be able to absorb the losses for long, he added. The company is one of many to lose due to the 39 percent rise in fuel prices since the beginning of this year. Nguyen Manh Hung, CEO of transport firm International Logistics, said fuel accounts for 40 percent of costs, and so the increases in their prices has affected the company. It is not easy to negotiate price hikes with customers, he said. "We are trying to cut all other expenses to survive the fuel price surge." Half of all fishing vessels in Vietnam have stopped going out to sea … [Read more...] about Industries hit hard by rising fuel prices
Rice harvesting in Vũ Thư District of Thái Bình Province. — VNA/VNS Photo Thế Duyệt THÁI BÌNH — Thái Bình Province, dubbed the 'hometown of rice', has many advantages in rice production thanks to the natural conditions, climate, irrigation infrastructure and high level of intensive farming. However, large-scale production and building a Thái Bình rice brand for export are still facing many difficulties. Production is not currently commensurate with the inherent potential. Currently, the province is the locality with the second-largest cultivated rice area in the Red (Hồng) River Delta region, with an area of nearly 150,000 hectares with an output of over 1 million tonnes per year. Instead of using the traditional farming methods, Thái Bình farmers have boldly applied scientific and technical advances in production to free up labour and improve productivity. In recent years, the local farmers have been growing high-quality rice varieties with an average planting area of … [Read more...] about ‘Rice hometown’ Thái Bình Province strives to enhance rice quality, branding
The week-long event, which started on June 26, is hosted by the Vietnam Trade Office under the Vietnamese Embassy in the U.K. in collaboration with the Vietnam Business Association in the U.K. (VBUK), and Longdan and EUTEK groups. As part of activities in the trade promotion program of the Vietnamese Ministry of Industry and Trade (MoIT), the event aims to promote Vietnamese high-quality products which are benefiting from the U.K.-Vietnam Free Trade Agreement (UKVFTA), to British retailers and consumers. Handicraft products, coffee, fresh and dried fruits, canned fruit juice, vermicelli, dried noodle, rice papers, cashew nuts, and fragrant rice of reputable export enterprises of Vietnam are being displayed at the supermarket and Vietnamese markets in Nottingham city. At the event, Sao Thai Duong JSC became the first Vietnamese enterprise to set up a showroom in the U.K. to introduce its herbal healthcare and beauty products. Speaking at the opening ceremony, Ambassador Nguyen … [Read more...] about Vietnamese goods, foods introduced in U.K.