Various challenges face Vietnam’s shrimp exports to the US, as aside from high anti-dumping duties, Vietnamese businesses have to tackle harsh policies the US uses to protect domestic production.
The southern province of Dong Nai earned more than US$10.6 billion in export revenue in the first seven months of 2018, a year-on-year increase of 12.7%.
The third meeting of the Vietnam-Thailand Joint Trade Committee opened on August 2 in Hanoi to enhance bilateral economic and trade cooperation.
Export revenue of aquatic products is estimated to hit US$2.7 billion in the third quarter, a 13% rise year-on-year, said the Vietnam Association of Seafood Exporters and Producers (VASEP).
With the US tightening import rules for shrimp and abalone at the end of this year, Vietnamese processors and exporters need to start preparing data now, an American expert has said.
Exports of plastic products were worth US$1.43 billion in the first half of the year, a year-on-year increase of 20%, according to the General Department of Vietnam Customs.
Vietnam’s tea exports as of mid-July dropped 11% year on year in volume to 61,530 tonnes, and 6.9% in value to US$99.94 million, according to statistics from the General Department of Vietnam Customs.
VOV.VN - Exports of wood and timber products are estimated at US$642 million in July, bringing the total export value for the first seven months of the year to US$4.8 billion, a year-on-year rise of 11.6%, according to the Agro Processing and Market Development Authority (AgroTrade).
VOV.VN - Vietnam shipped an estimated 382,000 tons of rice valued at US$195 million in July, bringing the total rice exports for the first 7 months of the year to 3.9 million tons worth nearly US$2 billion, up 12.2% in volume and 29.2% in value, according to the Processing and Market Development Authority (AgroTrade).
A Vietnam-Argentina business forum took place in Hanoi on July 31 as one of the activities during the official visit to Vietnam by Argentine Minister of Foreign Affairs and Worship Jorge Faurie.
Vietnam’s garment-textile export turnover is expected to hit US$18.5 billion in the second half of 2018, bringing the year’s export value to US$35 billion, US$1 billion higher than the target set for the year, heard a press conference in Hanoi on July 30.
Vietnam gained a trade surplus of US$3.1 billion in the first seven months of this year, reported the General Statistics Office (GSO).
The Vietnamese Embassy in Algeria held a meeting to introduce potential for bilateral cooperation and trade and investment ties between the two nations in Médéa province on July 30.
The export turnover of agro-forestry-fishery products in July was estimated at US$2.85 billion, bringing the total value in the first seven months of 2018 to US$22.2 billion, a year-on-year rise of 7.8%.
Earnings from vegetable and fruit exports in the first seven months of the year are estimated at US$2.3 billion, a year-on-year surge of 12.6%, according to the Ministry of Agriculture and Rural Development’s Processing and Market Development Authority (AgroTrade).
Analysts have advised wooden furniture manufacturers to focus on developing certified woodwork with clear origin and to diversify import sources.
The Binh Duong Customs Department has announced that it has defined two key tasks to collect import and export taxes of VND12.9 trillion (roughly US$562 million) as assigned by the Ministry of Finance for this year.
Prime Minister Nguyen Xuan Phuc suggested further boosting economic, trade and investment ties between Vietnam and the US city of Los Angeles during a reception for its Mayor Eric Garcetti in Hanoi on July 28.
VOV.VN - The US has been one of Vietnam’s leading trade partners for more than ten years, said Le Hoang Tai, deputy head of the Trade Promotion Agency, while attending a seminar in Hanoi on July 27 to help Vietnamese businesses access the latest information, new policies and mechanisms and seek opportunities in the US.
Although the US is deemed a promising market for exporters, it also sets very strict import regulations. For this reason, Vietnamese enterprises are urged to improve their capacity and shake hands with others to develop supply chains to make inroads into this market.