VNGOP - The European Commission Delegation to Vietnam and the Embassy of Germany, which is holding the Presidency of the EU, held a press conference in Hanoi on May 29 releasing EU's latest analysis regarding the trade and investment environment in Vietnam. "The 2006 EU Trade Counselors Report on Vietnam", a common initiative by the EU members' embassies in Vietnam identified the EU was still a premier trading partner of Vietnam in 2006 and the future. According to the report, the EU is the second biggest market (ranking after the US) for Vietnamese exports and the 6th importer into the country. Additionally, the EU is the second largest investor into Vietnam (after Japan) in terms of working capital, which now stands at US$4.2 billion. The report provided assessments and analysis on Vietnam's business environment and noteworthy economic developments in 2006. Addressing the meeting, German Ambassador Christian Ludwig Weber Lortsch emphasized that … [Read more...] about EU: 3rd largest market for Vietnamese export
Vietnamese exports
Vietnamese exporters to Korea briefed
Viet Nam News HÀ NỘI - Vietnamese exporters must understand and take advantage of the regulations on the origin of goods in dealing with the Republic of Korea's (RoK) market, said Trần Minh Trang, Deputy Head of Origin of Goods Division of the Ministry of Industry and Trade (MoIT). Trang strongly advised Vietnamese businesses to focus on the procedure and conduct of product origin from Việt Nam to the RoK in order to be eligible for preferential import tax. He spoke at a conference in Hà Nội yesterday on the implementation of the Korean-Việt Nam Free Trade Agreement (KV-FTA) by the Korea Trade Promotion Corporation (KOTRA) and the KV-FTA Support Centre, in collaboration with the Korean Customs Service. Another speaker at the conference was Choi Dae Kyoo, Tariffs and Customs procedures expert from the the KV-FTA Support Centre. Choi also stressed the needs for proof of origins of goods for Vietnamese producers to benefit from the KV- FTA, as only proven goods with Vietnamese origin … [Read more...] about Vietnamese exporters to Korea briefed
Vietnamese exporters still not taking advantage of trade deals
Despite the Government's willingness to enter into free trade agreements, Vietnamese companies are not taking advantage of such pacts to increase exports and are even losing out on their home turf to foreign rivals. — Photo trithuctre.vn HCM CITY (Biz Hub) —Despite the Government's willingness to enter into free trade agreements, Vietnamese companies are not taking advantage of such pacts to increase exports and are even losing out on their home turf to foreign rivals. The 2015 annual Viet Nam Business Report shows foreign companies accounted for 71 per cent of the country's exports, with local firms' share shrinking, according to Doanh nhan Sai Gon (Sai Gon Entrepreneurs) newspaper. In the first five months of this year, local businesses' exports grew by only 3.9 per cent to US$19.44 billion, accounting for 28 per cent of exports. In comparison, FDI companies reported growth of 7.7 per cent while overall growth was 6.6 per cent. The Government in fact offers many … [Read more...] about Vietnamese exporters still not taking advantage of trade deals
Mobile phones, textiles are top Vietnamese exports
HA NOI (Biz Hub) - Mobile phones and electronic components had the largest share of the total Vietnamese export revenue in the first eight months of 2014, according to the General Statistics Office of Vietnam. The export revenue of these products was US$15.23 billion, a 13.7 per cent increase year over year. Textiles came second with an export turnover of $13.65 billion, a 19.7 per cent increase year over year. Meanwhile, machines, equipment and spare parts had the highest share in the country's total import turnover in the first eight months of the year with $14.59 billion, a 24.5 per cent increase year over year. Electronics, computers and electronic parts came second with $11.19 billion, experiencing a 2.8 per cent fall year over year. The US is still Viet Nam's largest export market with $18.5 billion, a 22.5 per cent increase year over year. The European Union came second with $17.9 billion, which was an increase of 13.3 per cent. ASEAN came third with $12.4 billion, … [Read more...] about Mobile phones, textiles are top Vietnamese exports
Vietnamese exports to Israel increase in first quarter
HA NOI (VNS) — Viet Nam's exports to Israel rose by 93 per cent to reach US$172 million in the first four months of 2014. According to the Ministry of Industry and Trade (MoIT) African, West and South Asian Market Department, the key Vietnamese exports to Israel were seafood, textile and garments, footwear, coffee, cashew nuts and mobile phones and components. The department noted that Viet Nam's exports only accounted for 0.3 per cent of the total Israeli imports. Thus there is potential for the business communities from the two nations to foster trade relations. — VNS … [Read more...] about Vietnamese exports to Israel increase in first quarter