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Hanoi (VNA) – The Ministry of Industry and Trade’s Import – Export Department has recently warned of the increase in trade fraud through labeling products as “Made-in-Vietnam”. "Made in Vietnam" labels. Detailed regulations for labeling “Made in Vietnam” for products needed to be raised prevent origin frauds (Photo: toquoc.vn) The labeling of products as “Made-in-Vietnam” aimed to benefit from free trade agreements to which the country is a member and to avoid trade defence mechanisms by importing countries. The department said that origin fraud would not only negatively affect the products and the local industry but also undermine the competitiveness of made-in-Vietnam products. It added that a number of traders remained unaware of the impact of origin fraud on the country’s production. Vietnam does not have regulations on labeling products as "Made-in-Vietnam", thus, consumers did not know whether the products were … [Read more...] about Ministry warns of increasing trade fraud via “made-in-VN” labelling

Illustrative image (Source: internet) Bangkok (VNA) – Thailand’s Ministry of Commerce has reported that the country’s exports of fruits and vegetable to China surged 31 percent in the January-May period to 1.2 billion USD. Export revenue of fruit rose 123 percent to 838.61 million USD. Of the figure, earnings from durian accounted for 48.5 percent, followed by longan, mangosteen and coconut. However, export revenue of vegetable in the period was only 361 million USD, a drop of 33 percent year on year. Cassava was the major currency earner of the country which made up 96 percent of the total exports of farm produce to China, followed by beans and dried vegetable. Speaking to the local media, Auramon Supthaweethum, head of the Thailand’s Ministry of Commerce’s Department of Trade Negotiations, said that the ASEAN-China Free Trade Agreement (ACFTA) helped facilitate exports of vegetable and fruits. She held that the deal is an important tool for … [Read more...] about Thailand sees strong rise in exports of vegetable, fruits to China

President of the Vietnam Academy of Social Sciences (VASS) Prof Dr Nguyen Quang Thuan at the event (Photo: VNA) Moscow (VNA) – A delegation led by President of the Vietnam Academy of Social Sciences (VASS) Prof Dr Nguyen Quang Thuan attended an international symposium on Vietnam-Russia cooperation in Russia on June 4. The event, part of activities in the Vietnam Year in Russia and the Russia Year in Vietnam, was organised by the Institute of Economy under the Russian Academy of Sciences. Reports at the symposium analysed impacts of international situations and globalisation on the economies of Vietnam and Russia and compared the development models of the two nations. They also commented on Vietnam-Russia cooperation potential in the 21st century and within the framework of the Eurasian Economic Union - Vietnam free trade agreement. Participants said that as a scientific-technological power, Russia should bolster its science-technology strengths in the Vietnamese market … [Read more...] about Experts of Vietnam, Russia discuss cooperation in economic globalisation

Delegates discuss opportunities and challenges arising from CPTPP for Viet Nam’s garment and textile, footwear, timber products and beverage sectors at a conference held in HCM City on December 5. — VNS Photo With preferential tariffs provided under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Viet Nam has the opportunity to increase exports of garments, footwear, timber products, and beverages to other member countries. But Vietnamese enterprises’ ability to take advantage depends on their preparation, Nguyen Thi Thu Trang, director of the Viet Nam Chamber of Commerce and Industry’s WTO and Integration Centre, said. Speaking at a conference titled 'Opportunities and Challenges from CPTPP for Viet Nam’s Garment and Textile, Footwear, Timber Products and Beverage Sectors' held in HCM City on December 5, she said: “Our exports of footwear, garment and textile, timber products, and beverages to CPTPP member … [Read more...] about VN exporters can only take advantage of CPTPP with preparation

Illustrative image (Source: VNA)   Hanoi (VNA) - The Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), scheduled to be inked in Chile on March 8 (local time), is expected to be a new driving force for the development of the Asia-Pacific region. One year ago, at a high-level dialogue hosted by Chile in March 2017, 11 countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam, discussed initial steps to “save” the ambitious Trans-Pacific Agreement (TPP) after the US’s withdrawal. They agreed to maintain the deal and renamed it CPTPP. On the context that trade protectionism is arising in many places around the world and causing negative impacts on the global economic growth, the birth of the CPTPP will make a great stride connecting economies on the Pacific Ocean rim. Chilean Foreign Minister Heraldo Munoz said that the deal would create favourable conditions to generate more jobs, … [Read more...] about CPTPP – driving force connecting Asia-Pacific