Vietnamplus

The proposal to impose a 5 percent tax on inorganic fertiliser exports may increase costs and reduce the competitiveness of Vietnamese fertilisers.

The two new generation free trade agreements, namely the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the European Union–Vietnam Free Trade Agreement, continued to be the momentum for the increase of Vietnam's seafood exports in the first two months of 2022.

Exports of computers, electronic products and components hit 50.82 billion USD last year, putting it in second position in the group of key export products.

The customs sector will synchronously implement solutions to achieve the target of paperless customs in 2022, according to a directive recently issued by the General Department of Customs.

Bilateral trade between Vietnam and the US set a new milestone, hitting 111.56 billion USD in 2021, up nearly 21 billion USD over the previous year, according to the General Department of Customs.

As China continues to stick to its zero-COVID policy and impose strict measures on people and goods entering the country, Vietnamese authorities are putting forward solutions to ease trade bottlenecks at border gates.

Iron and steel exports to the European Union (EU) reached 713,000 tonnes in the first five months of this year, up five times year-on-year, reported the General Department of Customs.

Vietnam’s trade balance posted positive, 1.29 billion USD, in the first two months of the year, the General Department of Customs said on December 28.

Vietnam’s animal feed exports would likely touch the 1 billion USD mark in the near future as many large-scale enterprises in the field have continued to expand their production, trade experts have predicted.

Applying risk management in customs operations will not only enable trade security and facilitation but will also allow the General Department of Customs to focus its resources on high-risk trade, heard a workshop held in Hanoi on November 12.

Vietnam imported 8,800 cars of various types worth 202 million USD in August, a surge of 85.6 percent compared with the previous month, according to a report from the General Department of Customs.

After a local silk importer was recently found to be disguising Chinese products as Vietnamese to sell them in India, experts have warned of the risks of losing out on exports and preferential tariffs due to intellectual property (IP) violations.

The import of automobiles increased significantly in July despite impacts caused by the second wave of COVID-19 in Vietnam.

The General Department of Customs will focus on cracking down origin frauds and illegal transshipment as violations are becoming more rampant and complex as Vietnam integrates more deeply into the global economy.

Cambodia earned 197 million USD from exports of 876,612 locally-assembled bicycles in the first five months this year, up 26 percent and 19 percent, respectively, compared to the same period of last year, according to the General Department of Customs and Excises.

Exports of wood and wood products in the first four months of the year were worth nearly 3.2 billion USD, a year-on-year increase of 6 percent, according to the General Department of Customs.

Vietnam reported a trade deficit of nearly 1 billion USD in the first half of May as exports reached only 8.22 billion USD – the lowest level since the beginning of this year (excluding the first half of January when the Tet holiday fell on), the General Department of Customs announced has announced.

Vietnam has shipped more than 68,000 tonnes of rice abroad as of April 21 evening, part of 400,000 tonnes of rice under quotas for this month, the General Department of Customs reported on its website.

The plummeting world crude oil prices will not have too great impact on Vietnam’s State budget revenue, said Vo Thanh Hung, head of the State Budget Department under the Ministry of Finance.

Vietnam has taken full advantage of the CPTPP to gain strong growth in exports to Canada and Mexico, according to the Ministry of Industry and Trade (MoIT).