Vietnams furniture exports

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

Workers of Minh Phú Hậu Giang Seafood JSC, a member of Minh Phú Seafood Corporation, at Hậu Giang Industrial Zone in the southern province of Hậu Giang prepare goods for export. Việt Nam hit US$9 billion in total export value of seafood products this year, a year-on-year increase of 8.4 per cent. — VNA/VNS Photo Vũ SinhViet Nam News HÀ NỘI — The Ministry of Agriculture and Rural Development said yesterday the total export value of forestry and seafood products reached a record high at about US$18 billion this year. Việt Nam gained $9 billion in total of seafood products this year, a year-on-year rise of 8.4 per cent, said Nguyễn Quang Hùng, deputy director of the ministry’s Directorate of Fisheries. He was speaking at a conference on production and business of the fishery industry this year and tasks in 2019 held in Hà Nội yesterday by the general department. The meeting heard how … [Read more...] about Forestry, seafood export reaches record high

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

Vietnam is facing a 200,000 tonne shortage of pork in the coming months Pork is the main source of protein in Vietnam, but the hog herds have been severely depleted due to the African swine fever (ASF), which forced the culling of millions of pigs. According to MARD, the epidemic has been on the wane since June, with the number of culled pigs in November down 65% from October and down 85% from May when the outbreak was at its peak. As the ASF eases off, the ministry has provided instructions on how to rebuild their herds by taking biologically safe measures and using biological products to enhance pigs’ immunity. The agriculture ministry said Vietnam imported 54,000 tonnes of pork in the first ten months of 2019 and has proposed that the government prepare plans to buy more pork from countries with which Vietnam has agreements on pork import and export in order to ensure supply for the upcoming Lunar New Year. Meanwhile the Ministry of Industry and Trade (MOIT) stated that it … [Read more...] about Vietnam to allow pork imports to ease domestic shortage

  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