Vietnam will see great momentum for stronger export growth in the second half of 2018, with its export-import turnover estimated to reach the US$500 billion benchmark by 2019.
VOV.VN - Exports of cassava and tapioca products are estimated at 200,000 tons with a value of US$92 million in June, bringing the total exports over six months to 1.5 million tons worth US$560 million, down 24.6% in volume but a rise of 12.3% in value, according to the Ministry of Agriculture and Rural Development.
Vietnam’s rice export has posted remarkable figures in the first half of 2018, and the sector expects business to get better in the remaining months of the year as the country’s traditional rice markets are increasing import.
Italian enterprises are seeking business opportunities in Vietnam, especially in leather, footwear and interior décor, sectors which are expected to benefit once the European Union – Vietnam Free Trade Agreement (EVFTA) is signed.
Nearly 200 domestic and foreign businesses have been showcasing their products at the 11th International Exhibition of Electrical Technology and Equipment (Vietnam ETE 2018) and the 8thInternational Exhibition of Energy Saving and Green Power Products and Technologies (Enertec Expo 2018) which both opened in Ho Chi Minh City on July 18.
Vietnamese textiles firms were updated on the potential prospects, advantages, and barriers that are to brought about by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam Free Trade Agreement (EVFTA) at a workshop in Hanoi on July 18.
Vietnam’s factories need some 180,000 tonnes of potatoes for processing a year, but domestic production currently meets only 40% of demand, according to the Ministry of Agriculture and Rural Development.
VOV.VN - Vietnam exported 1.88 million tons of crude oil worth US$1.05 billion during the first half of this year, down 50.9% in volume and 31.4% in value against the corresponding period of last year, according to the General Department of Vietnam Customs.
Two-way trade value of Vietnam and Malaysia in the January-June period this year expanded 21.15% on a yearly basis to more than US$5.84 billion, according to statistics of the Vietnamese trade office in Malaysia.
Vietnam has become one of the three largest white-fleshed fish suppliers for Brazil, with the export value of Tra fish to the market reaching 104.7 million USD in 2017, up 54 percent against 2016.
Amid rising trade barriers, experts have said Vietnamese firms should improve their awareness of trade remedies and appeals processes.
A Vietnamese company has won a bid to export 60,000 tonnes of Japonica brown rice to the Republic of Korea (RoK), defeating competition from rivals of China, Thailand and Australia.
A visiting delegation of 30 executives from Indian leather companies have met with their Vietnamese counterparts in HCM City.
Vietnam’s impressive fruit export revenue in the first half of this year adds little value to the country’s economic growth as most of the shipment were re-exports of produce from Thailand.
The Department of Farm Produce Processing and Market Development (DFPPM) under the Ministry of Agriculture and Rural Development (MARD) has forecast that pepper prices will struggle to recover in July and the rest of the year.
The Vietnam Bank for Agriculture and Rural Development (Agribank) is running an import-export assistance package worth VND15 trillion (US$649.46 million) between now and December 20.
The ongoing US-China trade war will greatly impact on the structure of the world economy in the future, causing damage but also generating indirect opportunities for countries where the economy relies heavily on agricultural production like Vietnam.
Exports from the Mekong Delta province of Ca Mau rose by 4.8% in the first half of 2018 to US$441 million, with aquatic products making up a majority of the total.
The trade war between the US and China is causing widespread concern over possible risks posed to the global economy, including that in Vietnam. However, the conflict can bring about indirect opportunities for Vietnam if the country knows how to grab hold of the situation, according to a local economist.
VOV.VN - The Agro Processing and Market Development Authority (AgroTrade) will coordinate with the northern provinces of Son La and Hung Yen in organizing different activities to promote longan sales and exports.