Trade

(VEN) - With a population of more than 25 million, Australia has very high import demand, providing a potential market for Vietnamese exports, especially once the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect. Litchis grown in Bac Giang are irradiated before export to Australia A discerning market Phung Thi Lan Phuong, Head of the FTA Division of the Vietnam Chamber of Commerce and Industry’s WTO Center and Integration, believes the CPTPP will provide Vietnam with major opportunities to promote exports to Australia. Ninety-three percent of tariff lines will be eliminated as soon as the trade deal comes into effect, and the remainder will be removed within three to four years. A common tax level of AUD12,000 per product will be applied instead of the five-percent tax currently imposed on used autos based on their value. “Australia’s commitments in the CPTPP are at a higher level compared with those in the … [Read more...] about Enhanced prospects ahead for exports to Australia

Tinh Bien – An Giang International Trade Fair 2019 was opened in Tinh Bien district, in the southern province of An Giang, on May 22 by the People’s Committee of Tinh Bien district and An Giang Trade and Investment Promotion Centre. At the trade fair in 2018 - Photo: atpic.angiang.gov.vn The fair has been held annually for 13 consecutive years with the aim of promoting the consumption of Vietnamese goods and the export of Vietnamese products to the province’s neighbouring country of Cambodia and other ASEAN countries. This year’s fair attracted the participation of 150 enterprises from 13 provinces and cities in the Mekong Delta Region, Ho Chi Minh City, Lam Dong, Dak Lak, Binh Duong, Binh Phuoc, Tay Ninh, and others, in addition to enterprises from Cambodia. Enterprises are showcasing their products in 350 pavilions in the areas of food, household appliances, electrical products, handicraft products, and specialties from Vietnam and Cambodia. An … [Read more...] about An Giang International Trade Fair boosts border trade

(VEN) - Amidst Vietnam’s intensive integration into regional and global economies, trade remedies are becoming an important policy tool, helping to enhance the effectiveness of economic integration into the wider world. Steel, including Vietnamese steel, is subjected to the highest number of trade defense investigations in the world In response to the growing number of trade remedy cases and their complexity, Vietnam is set to increase the use of anti-dumping, anti-subsidy and self-protecting measures against harmful imports in order to support the future development of several domestic industries. It will also boost its response to trade remedies by other countries against its exports. A program formulated by the Ministry of Industry and Trade notes that the World Trade Organization (WTO), free trade agreements and other countries allow such measures to create a fair competition environment to support domestic production sectors. The application of trade … [Read more...] about Vietnam plans increased trade remedy actions

The Vietnam Agricultural Trade Promotion Forum was held in Liaoning province, China, on May 20 with the participation of more than 100 Vietnamese and Chinese agricultural enterprises. At the forum - Photo: VOV Speaking at the forum, Vietnamese Deputy Minister of Agriculture and Rural Development Tran Thanh Nam said that with over 1.4 billion people and a high demand for agricultural products, China is an important market for Vietnam. Vietnamese agricultural products and Vietnamese enterprises need to make good use of this large market. At this forum, the two sides shared information on agricultural investment and the potential of developing agricultural trade between Vietnam and China. In the context that Vietnam's agricultural exports to China have decreased in the first four months of this year, the Ministry of Agriculture and Rural Development is cooperating with Vietnam Trade Office in China to create forums to connect businesses of the two countries in order to promote … [Read more...] about Vietnam promotes agricultural products in China

(VEN) - The proliferation of fake goods and violations of intellectual property rights has spread with the increase in online shopping sites. To address the issue and discuss solutions, the Vietnam E-commerce and Digital Economy Agency and the Vietnam Competition Authority under the Ministry of Industry and Trade held a recent training workshop on protection of consumer rights in e-commerce. Increasing fake goods trade According to the Vietnam E-commerce and Digital Economy Agency, Vietnam’s e-commerce has grown 25-30 percent a year. In the digital economy, the revenue through e-commerce channels was five times higher than that of average GDP growth. At the same time, these online platforms have opened up opportunities for expanded trade in fake goods, said Tran Huu Linh, director general of the Vietnam Directorate of Market Surveillance. In 2018, the Hanoi Department of Market Surveillance handled violations valued at nearly a half billion Vietnamese dong. Authorities handled … [Read more...] about Vietnam aims to crack down on online trade in fake goods

Vietnam is boosting promotion activities in a bid to export avocados to the high potential market of the US after its mangos have been officially shipped to the market following nearly 10 years of negotiations. Vietnam has many varieties of avocados producing fruits all year round According to the United States Department of Agriculture, the US spent US$2.35 billion on importing 1.04 million tonnes of avocados in 2018. The fruit is consumed by approximately 51% of American households and each household spends an average US$24.5 per year to buy avocados. The Vietnam trade office in San Francisco said that avocados are often consumed through large supermarkets in the US, with large volume, requiring very high standards, particularly regarding food safety requirements. The trade office noted that Vietnam has many varieties of avocados producing fruits all year round. However, the value of Vietnamese avocados remains low due to limitations in the application of science and … [Read more...] about Vietnam strives to bring avocados to US market

(VEN) - Data from some market research companies show that the Vietnamese convenience store market is growing strongly in terms of both value and size. The number of convenience stores in Vietnam is increasing rapidly A Deloitte’s report shows that the number of convenience stores in Vietnam has quadrupled since 2012, accounting for the biggest proportion of newly founded shopping facilities in 2018. The convenience store market has attracted Vietnam’s leading retailers including VinGroup and Saigon Co.op, and such leading foreign firms as Circle K, B’s Mart, Mini Stop, 7-Eleven, and GS25, among others. Domestic enterprises are dominating the market, carving a 70 percent niche. As of late January 2019, according to a Deloitte’s report, there were 1,700 Vinmart+ stores throughout Vietnam, while foreign-owned convenience stores (excluding the Shop&Go sold to VinGroup) totaled more than 600 facilities. Convenience stores in Vietnam have … [Read more...] about Vietnam discovers convenience of convenience stores

  Shark catfish exports from the Mekong Delta to the US and China have dropped. — VNA/VNS Photo Vũ Sinh MEKONG DELTA — Exports of Mekong Delta shark catfish to the US and China, two of the biggest buyers of the products, have dropped compared to the figure last year. According to seafood exporters in the Mekong Delta, shark catfish exports have been erratic, and the demand in big markets such as China and the US has fallen. Exports to mainland China and Hong Kong in March were worth US$39.5 million, 12.9 per cent lower than last year, while exports to the US saw a 44 per cent drop. Doãn Tới, general director of the Nam Việt Corporation (which specialises in exporting seafood), told Sài Gòn Giải Phóng (Saigon Liberated) newspaper that shark catfish exports were worth around $1 billion to China and the US last year. Despite the high figure, both markets can be volatile due to changing policies and tariffs, so more export … [Read more...] about Shark catfish exports to US, China fall

(VEN) - The US has exempted 31 Vietnamese shrimp exporters from anti-dumping tariffs following the 13th period of review (POR 13). Vietnam Economic News’ Thuy Duong talked with Truong Dinh Hoe, Secretary-General of the Vietnam Association of Seafood Exporters and Producers (VASEP). Truong Dinh Hoe, Secretary-General of the Vietnam Association of Seafood Exporters and Producers (VASEP) How do you assess the preliminary results of the POR 13? On April 9, the US Department of Commerce (DoC) announced the preliminary results of anti-dumping tariffs on Vietnamese warm-water shrimp exported to the US in the period from February 1, 2017 to January 31, 2018. The DoC concluded that frozen shrimp products of two mandatory respondents in the review, Sao Ta Foods JSC (Fimex VN) and Nha Trang Seaproduct Company, did not violate anti-dumping regulations in this period. As a result, preliminary tariffs on those two companies and other 29 local shrimp exporters will stand at zero. … [Read more...] about US lifts anti dumping tariffs from Vietnamese shrimp

  Violations of "made-in-Việt Nam" labelling would be strictly handled. — Photo tienphong,vn HÀ NỘI — The National Steering Committee for Combating Smuggling, Commercial Fraud and Counterfeit Goods has asked the handling of violations related to “made-in-Việt Nam” origin fraud to be enhanced. The order came amid a reported flow of foreign-made and counterfeit products labelled as “made-in-Việt Nam”, especially consumer and fashion goods, which was causing a loss to the State budget revenue and damage to consumers as well as negatively affecting domestic export firms. Fighting origin fraud was essential to protecting brands and the rights of consumers, as well as creating a healthy business environment, the committee said. Focus would be placed on tightening supervision at border areas and strictly punishing violations related to trading of counterfeit products and products which were made in foreign countries … [Read more...] about Fight against origin fraud to be enhanced