Trade

(VEN) - The General Department of Vietnam Customs reports that in the first quarter of 2018, Vietnam’s steel exports soared 38.5 percent and steel imports fell 25.4 percent compared to the same period last year.   Steel exports hit 519,000 tonnes worth US$390 million in March (up 8.9 and 15.8 percent from March 2017, respectively), taking the total to 1.43 million tonnes worth US$1.04 billion in the first quarter of this year (up 38.5 and 57.3 percent from the same period last year, respectively). Cambodia was the biggest importer of Vietnamese steel with 284,000 tonnes worth US$180 million (up 37.6 and 59.1 percent). It was followed by the US with 217,000 tonnes worth US$179 million (up 131.3 and 144.9 percent), and Indonesia with 186,000 tonnes worth US$147 million (up 25.3 and 37.6 percent). Steel imports reached 1.05 million tonnes worth US$745,000 (down 4.6 and 17.8 percent from March 2017, respectively), taking the total to 3.12 million tonnes worth US$2.18 … [Read more...] about Strong foreign market signals for Vietnamese steel

(VEN) - The recently signed trade agreement among Pacific Rim nations known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to have a strong impact on Vietnam’s e-commerce. Opening up opportunities Dang Hoang Hai, director of the Department of E-commerce and Digital Economy under the Ministry of Industry and Trade, said the CPTPP is a new-generation free trade agreement with a high level of commitment covering trade and non-trade issues. The main objectives of the CPTPP are to eliminate tariffs and technical barriers to import and export goods and services, to agree on common rules and regulations among member countries, and to promote the development of digital commerce. Chapter 14 of the agreement signed in March deals with e-commerce. It prohibits the imposition of customs duties on digital products, to ensure that products distributed electronically, such as software, music, video, e-books, and games are not … [Read more...] about CPTPP offers opportunities for e commerce

U.S. imposes heavy import duties on steel from Vietnam The Saigon Times Daily Rolled steel is seen at a factory in Vietnam. Vietnam’s steel exports to the U.S. now face steep duties - PHOTO: TL HCMC – Vietnam’s steel exports to the U.S. now face steep duties as the U.S. Department of Commerce (DOC) has ruled that steel made in Vietnam uses Chinese-origin substrate. The DOC began on May 21 slapping extremely high duties on steel imports from Vietnam, accusing steel exporters in Vietnam of evading U.S. anti-dumping and anti-subsidy duties against Chinese-made steel. U.S. steel manufacturers, who won anti-dumping and anti-subsidy duties against Chinese steel in 2015 and 2016, said Chinese steel is being diverted to other countries to avoid the duties, according to Reuters news agency.  The U.S. will collect anti-dumping and anti-subsidy duties of 199.76% and 256.44% respectively from imports of corrosion-resistant steel and cold-rolled steel made in … [Read more...] about U.S. imposes heavy import duties on steel from Vietnam

(VEN) - The Hanoi Center of Investment, Trade and Tourism Promotion (HPA), in coordination with the Hoa Binh Province Department of Agriculture and Rural Development, held a seafood festival from April 20 to 22 to enable Hoa Binh businesses to introduce products to consumers in the capital and access its modern retail systems. Hoa Binh Province’s Da River fish have attracted additional consumers in Hanoi At the event, 10 companies from Hoa Binh, southwest of Hanoi, introduced different kinds of seafood farmed or caught in the Da River. Retailers from Hanoi, including Biggreen Vietnam and Tam Thanh Safe Food Company, among others attended the event. HPA Deputy Director Nguyen Thi Mai Anh said products introduced at the event had undergone stringent quality assurance, with the festival’s organizing committee working with a food safety control center. The event also included cooking workshops and professional chefs, who demonstrated the preparation of … [Read more...] about Hoa Binh seafood targets Hanoi palates

(VEN) - The model of Vietnamese goods points of sales established in the northern mountainous province of Tuyen Quang has proven efficient. Booming sales In 2015, Tuyen Quang Province adopted a plan to establish a point of sales pilot model labeled “Proud of Vietnamese Goods”. The model has proven efficient in selected areas of the northeastern province where demand for Vietnamese goods is high, such as mountainous and remote areas. Vietnamese goods point of sales in Na Hang District, for example, have resulted in great changes in trade in this area. The Vietnamese goods point of sales set up in 2016 have drawn local residents to Nguyen Huu Vinh’s store to buy essential consumer goods, such as milk, processed food (shrimp noodles, snacks, rice cake, cooking oil and spices), and cosmetics. Distributors have come to the store asking to display their Vietnamese products on the shelves provided as part of the program. The store has become one of the most successful … [Read more...] about Tuyen Quang model promotes sale of Vietnamese goods

Vietnam’s firms are striving to promote Vietnamese farm produce in the Japanese market at a trade promotion programme held within the 10th Vietnam festival in Tokyo. The Vietnamese booth at the 10th Vietnam festival in Tokyo - Photo: VNA The event was organized to celebrate the 45th founding anniversary of the two countries’ diplomatic relations (1973-2018). Theo VNA … [Read more...] about Vietnamese farm produce promoted in Japan

(VEN) - Preliminary data from the Ministry of Construction’s Building Materials Department show that cement and clinker exports soared in the first quarter of 2018. Cement exports up 30 percent Department data show that cement sales, both domestically and abroad, totaled about 7.96 million tonnes in March 2018, up 0.34 percent compared with February. This is equivalent to the sales volume of February 2017 and 25 percent of the 2018 plan. In March 2018, Vietnam exported 2.4 million tonnes of cement, a rise of 30 percent compared with March 2017. In the first quarter of 2018, the export volume reached 7.51 million tonnes, up 28 percent compared with the same period last year. Bangladesh was the largest among the 12 export markets of Vietnamese cement and clinker in the first quarter, accounting for 31.3 percent of total export volume and 27.6 percent of total export value, with 909,109 tonnes worth US$27.94 million, up 40.5 percent in volume and 45.2 percent in value compared … [Read more...] about Q1 data cement favorable export forecast

At a recent conference jointly held in Hanoi by Vietnam Textile and Apparel Association (VITAS) and IEC Group-Australia that sought ways to boost exports of Vietnamese apparels to Australia, an official from the Ministry of Industry and Trade of Vietnam has said that Australia is a potential market for Vietnamese textiles with the introduction of CPTPP. At the seminar - Photo: tapchicongthuong "The market share of Vietnam’s garment in this market is modest but still has room to expand,” according to deputy head of the Asia- Africa Market Department of the Ministry of Industry and Trade Nguyen Phuc Nam. Meanwhile, the basic import tax rate for garment products usually ranges from five to 10 percent. Import turnover of textile and garment products of Australia grew from three to five percent per year in the last five years, it was heard. Currently, Australia has shifted to import and outsource in Vietnam due to cheaper labor compared with China, … [Read more...] about Australia potential market for Vietnamese textiles

Belgium’s Flanders Agricultural Marketing Board held a press conference in Hanoi on May 14 to announce a plan to develop the Belgian potato market share in Vietnam.  Belgium is the world’s largest frozen fries exporter, with over 90 percent being shipped abroad - Source: Flanders Agricultural Marketing Board Attending the event were five largest Belgian businesses major in exporting potato products and specialties to 100 different markets globally, including Agristo, Bart’s Potato Company, Clarebout Potatoes, Ecofrost and Mydibel, and the Belgian fries group Theo VNA … [Read more...] about Belgian potato exporters seek opportunities in Vietnam

The European agriculture producers are expecting the European Union-Vietnam Free Trade Agreement (EVFTA) to take effect soon as it will pave the way for their agricultural products, including fruits, meat and dairy, to enter the Southeast Asian market with a population of 93 million. The EVFTA will pave the way for their agricultural products, including fruits, meat and dairy, to enter the Vietnamese market - Photo: zing.vn A delegation of 65 enterprises from Flanders, Belgium will visit Vietnam from May 13-18 to seek business cooperation opportunities with their partners. Theo VNA … [Read more...] about European farm produce seek ways to reach Vietnamese consumers