Business

Seminar seeks opportunities for Vietnam’s commodity trade expansion to Northeast Asia

Opportunities for expanding commodity trade to the still untapped 1.6-billion-people Northeast Asian market were a highlight of a seminar held on November 10 in the Mekong Delta city of Can Tho.
Seminar seeks opportunities for Vietnam’s commodity trade expansion to Northeast Asia ảnh 1In the first nine months of 2023, Vietnam's export structure to Northeast Asia covers processing-manufacturing goods, construction materials, fuel, minerals, and agro-forestry-fishery products. (Illustrative image - Source: VNA)
Can Tho (VNA) – Opportunities for expandingcommodity trade to the still untapped 1.6-billion-people Northeast Asian marketwere a highlight of a seminar held on November 10 in the Mekong Delta city ofCan Tho.

As heard at the event that gave information on demand, trends,and regulations in the East Asian farm produce market, Northeast Asia boastssignificant purchasing power and immense potential for economic and commercialdevelopment. In addition to the three major trading partners – China, Japan,and the Republic of Korea (RoK), other important markets of Vietnam in thisregion include Taiwan (China), Mongolia, and Hong Kong (China).

Nguyen Nhu Tiep, Director of the Ministry of Agriculture and Rural Development(MARD)’s Agro-Forestry-Fisheries Quality Assurance Department, acknowledgedthat East Asia is a market of both traditional and strategic significance toVietnam, with East Asia standing out as a large export market of the nation,trailing only behind the EU and the US.

According to Nguyen Duy Kien from the Asia-Africa MarketDepartment under the Ministry of Industry and Trade, Vietnam's totalimport-export turnover with the Northeast Asia market reached 350.2 billion USDlast year, accounting for 48% of its total global trade. In the first ninemonths of 2023 alone, the figures were 236 billion USD and 47.5%, respectively.

Also during the January - September period, Vietnam's exportstructure to the region covered processing-manufacturing goods, constructionmaterials, fuel, minerals, and agro-forestry-fishery products.

Addressing challenges faced by Vietnamese exports to the area,Kien underscored an increase in transportation costs, currency policies,tightening expenditures, and new import standards imposed by China, the RoK,and Japan.

In response, he advised localities and businesses adapt tonew consumer trends and standards in the export markets, maintain market shareby maximising the benefits of reduced tariffs brought about by free tradeagreements (FTA), step up trade promotion, push products into largedistribution systems, and capitalise on cross-border e-commerce./.
VNA
#Vietnam #Northeast Asian #commodity trade expansion #East Asian farm produce market #Nguyen Nhu Tiep #Nguyen Duy Kien #FTA #vietnam news agency #vietnamplus Vietnam
Follow VietnamPlus

Related News

Vietnam cashes in on FTAs to boost exports: Minister

Vietnam cashes in on FTAs to boost exports: Minister

Vietnam has capitalised on the free trade agreements (FTAs) it has signed to bolster exports amidst weakening demand, high input costs, and inflation pressure across the globe, Minister of Industry and Trade Nguyen Hong Dien said on November 7.

See more

Then Prime Minister Pham Minh Chinh addresses the Autumn Economic Forum 2025 on November 26 last year. (Photo: VNA)

World Economic Forum to co-brand Autumn Economic Forum 2026 in Ho Chi Minh City

On October 27, the forum will host 16 thematic sessions across three parallel venues, focusing on AI – quantum, finance – digital economy – autonomy, and manufacturing – sustainability – next generation. Two sessions will be jointly organised with the WEF, addressing “Repositioning Vietnam and ASEAN in Global Value Chains” and “From AI Deployment to Future Manufacturing Workforce Readiness”.

Nguyen Dinh Kien, Secretary of the Sam Mun commune Party cell in Dien Bien province, builds wealth through spotted deer farming. (Photo: VNA)

📝OP-ED: Party Central Committee’s 4th plenum offers new thinking encouraging Party members to engage in business

Accordingly, the plenum reached a consensus on several key principles, including shifting from a mindset of “permission” to one of “encouragement and facilitation” for Party members engaging in the private sector; protecting their lawful economic activities; and maintaining strict oversight of those exercising control and benefiting from such activities.

AVAC ASF LIVE vaccine developed and manufactured by AVAC Vietnam Joint Stock Company. (Photo: avac.com.vn)

Vietnam ships first commercial ASF vaccine order to Philippines

Nguyen Van Diep, General Director of AVAC Vietnam, said this was the company’s first commercial export order following the Philippines’ approval of the vaccine for unrestricted circulation. The Philippine Department of Agriculture is expected to issue usage guidelines next week, paving the way for wider distribution and application.

Workers process octopus for export to the Japanese market at Huy Nam Company in An Giang province. (Photo: VNA)

Fisheries sector strives for 12 billion USD in exports amid rising costs

The 12-billion-USD export target remains achievable given solid output growth and generally favourable market conditions. However, any fourth-quarter slowdown would not necessarily reflect raw material shortages but also impacts on economic efficiency amid rising material and fuel costs.

Commercial Counsellor at the Vietnamese Embassy in China Nong Duc Lai (Photo: VNA)

Vietnam-China trade growing rapidly, substantive: Commercial Counsellor

According to the Vietnam Customs data, bilateral trade hit 253.1 billion USD in the first nine months of this year, up 37.6% annually. Vietnam’s exports to China rose 32.9% to 65.8 billion USD while imports climbed 39.3% to 187.3 billion USD. China accounted for around 41.3% of Vietnam’s imports and 15.2% of its total exports.

Vietjet Air leaders and flight crew pose for a photo with guests at the launch ceremony. (Photo: VNA)

Vietjet launches Prague–Hanoi route

Vietjet Air operates the Prague–Hanoi route twice a week using Airbus A330-300 aircraft with a capacity of 377 passengers. Flights depart Prague at 8:55 p.m. every Tuesday and Saturday and arrive in Hanoi at 4:20 p.m. the following day, local time. In the opposite direction, flights leave Hanoi at 8:25 a.m. and arrive in Prague at 6:55 p.m. The route includes a stop in Almaty, Kazakhstan.

At Yen Phong II-C Industrial Park in Bac Ninh province (Photo: VNA)

Tax policy stability now key to keeping foreign investors: Officials

Companies must ensure records and data truthfully reflect the substance of transactions and engage in dialogue early when complex issues arise. Tax authorities, in turn, need to publish policies, give clear guidance, enforce rules consistently and deliver information in a timely manner.

The MoU signing ceremony between the gency for Domestic Market Surveillance and Development and Procter & Gamble (P&G). (Photo: Ministry of Industry and Trade)

Vietnam steps up fight against counterfeits, IP violations

The renewed memorandum between Vietnam's domestic market surveillance force and Procter & Gamble (P&G) is expected to build on the results achieved since 2023, strengthen IP enforcement, safeguard the legitimate rights and interests of businesses and consumers, and contribute to a more transparent and fair business environment.

A Jatropha cultivation area of Star Japan Co., Ltd in My Son commune, Khanh Hoa province (Photo of Star Japan Co., Ltd)

Vietnam – a potential regional supply hub for Jatropha seed oil

Japan’s research on non-edible oil feedstocks showed that Jatropha is highly drought-tolerant and could grow well on wasteland, eroded sandy land and infertile soil. Given this, areas in central Vietnam, including Ninh Thuan, Binh Thuan and the Central Highlands, have climatic, sunlight and soil conditions suitable for achieving high seed yields and oil content.

Officials launch the Expo Platform on September 29. It will be officially put into use on October 20, two days before the opening of HCMC Export 2026. (Photo: VNA)

Technology opens new routes for Vietnamese exports

As global markets impose increasingly stringent requirements on standards, traceability, sustainability and green transformation, digitalising product data and bringing buyers closer to production sites can help Vietnamese businesses demonstrate their capabilities and meet market-specific requirements.

Phuong Dinh Anh, Deputy Chief of the Office of the Central Coordination Office for the National Target Programme, speaks at the event.( VNA)

Turning OCOP products into rural tourism experiences

Experts stressed that rural tourism can develop sustainably only when local communities actively participate and benefit from it. Investment in transport, accommodation and attractions must go hand in hand with clean water, waste treatment, hygiene, traditional craft preservation and environmental protection.