There remains an ample room for Vietnamese exports to Africa, as the country accounts for only 0.6% of the continent's total import of 600 billion USD per year, according to the Ministry of Industry and Trade, given opportunities brought about by the African Continental Free Trade Area (AfCFTA) agreement.
There is plenty of room available for Vietnamese goods to enter the UK market, said Thai Tran, Managing Director of TT Meridian, an international logistics and trading company specialising in the UK and Vietnam markets and the first Vietnamese business in the UK to open an all-cargo air route between the nations via Turkmenistan.
The conclusion of negotiations towards the signing of the Vietnam - Israel Free Trade Agreement (VIFTA) has opened up new and potential opportunities for Vietnam's exports, and now is time for businesses to understand Israeli people’s needs and tastes to promptly enter this new market, according to insiders.
The Vietnamese Trade Office in India and the Bureau of Indian Standards (BIS) on April 26 organised a webinar on BIS’s regulations and certification procedures for foreign manufacturers, attracting the participation of more than 60 Vietnamese firms.
The UK's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will complement the existing UK-Vietnam Free Trade Agreement (UKVFTA) and help upgrade the bilateral relations thanks to additional preferential tariffs, Kemi Badenoch, Secretary of State for the Department for Business and Trade of the UK, reportedly said.
With certain headwinds predicted for the global economy in 2023, Vietnam too, faces considerable challenges. But opportunities are also significant if concerted and appropriate solutions are taken, an expert has said.
Four out of every 10 Vietnamese businesses have gained some benefits, including in import-export, from the Vietnam-EU Free Trade Agreement (EVFTA), according to a survey of the Vietnam Chamber of Commerce and Industry (VCCI), heard a recent conference on increasing the presence of Vietnamese firms in the EU market.
Tra fish exports to member countries of the Association of Southeast Asian Nations (ASEAN) have been rising sharply, and this market is forecast to surpass the European Union in terms of catfish imports from Vietnam in the near future, the Cong Thuong (Industry & Trade) newspaper reported.
The UK-Vietnam Free Trade Agreement (UKVFTA) has given a big push to Vietnamese exports, but insiders said firms still have much to do to make the most of the deal.
The Middle East market still has a large room for Vietnamese businesses to boost exports, experts said at the seminar on "Golden opportunity for Vietnamese exports to Middle Eastern countries after the COVID-19 pandemic" on March 17.
As Russia is facing sanctions imposed by the West, Vietnam’s Trade Counsellor in this country Duong Hoang Minh has recommended Vietnamese businesses in this country to stay calm and keep a close watch on the situation.
China’s Guangxi authority reopened its Pu Zhai border crossing which connects with Vietnam through Tan Thanh border gate in the northern province of Lang Son on January 25 after closure for over a month due to COVID-19 concerns, according to the Ministry of Industry and Trade (MoIT).
Australia, which annually spends about 600 billion USD on imports, is a potential market for many exports of Vietnam, said Tran Ba Phuc, Chairman of the Vietnamese Business Association in Australia, at a trade promotion and connection conference held on December 21.
The Trade Remedies Authorities of Vietnam has recommended domestic enterprises to prepare legal knowledge and resources to deal with potential lawsuits from export markets, particularly in the Association of Southeast Asian Nations (ASEAN).
There remains huge room for Vietnam to boost exports of farm produce, seafood, foodstuffs and beverages to Russia, which has great demand for these goods, experts have said.
There is room for Vietnamese exports to the African market, experts said at a virtual workshop on Vietnam-Africa trade promotion held by the Vietnam Trade Promotion Agency (Vietrade) on July 21.
The UK - Vietnam Free Trade Agreement (UKVFTA) officially took effect at the beginning of May, 2021. It has provided a huge boost to Vietnam’s exports in terms of market diversification and products. In particular, in the context of COVID-19, trade agreements with major partners will ensure the growth of Vietnamese goods.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has created positive impact on Vietnam’s export since it came into force two years ago (January 14, 2019).
The Vietnam Chamber of Commerce and Industry (VCCI) on April 7 held a workshop to review the two-year outcomes of Vietnam’s implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Vietnam remains France’s largest goods supplier in ASEAN and Vietnamese exports still have the opportunity to penetrate further into the European market.
Business
