Vietnam and the US have huge potential to boost cooperation in trade and supply chains after COVID-19 is brought under control, which opens up many opportunities for Vietnamese firms to increase exports to this major market.
A batch of 160 tonnes of frozen shrimp products from the Minh Phu Seafood Corporation left port for the US, Europe, and Japan after a ceremony in the Mekong Delta province of Hau Giang on January 5.
The recently-signed Regional Comprehensive Economic Partnership (RCEP) presents both opportunities and challenges to Vietnamese businesses, making prompt action crucial to address existing weaknesses and capitalise on deal-generated advantages.
In the first 11 months of this year, Vietnam's rice exports exceeded 5.7 million tonnes, down by 3 percent, but earnings surged by 9.7 percent to nearly 2.83 billion USD over the same period in 2019 thanks to export price increase.
Vietnam ran a surplus of 7.25 billion USD in agro-forestry-fishery trade in January-September, 15.7 percent higher than the same period last year, the latest updates of the Ministry of Agriculture and Rural Development showed.
The domestic market can support local production and business in the context of the serious developments of the COVID-19 pandemic, said Deputy Minister of Industry and Trade Do Thang Hai at a meeting in Hanoi on August 12.
ASEAN's exports will benefit from China's economic recovery, with Malaysia seeming most poised to gain, according to a report released by Singapore’s OCBC Bank on July 21.
Malaysia could become one of the biggest export markets in ASEAN for Vietnam, especially in the post-pandemic period, a city official said at a meeting in HCM City on July 16.
Despite the first half of the year seeing Vietnamese export turnover to China only reaching a mere US$34.8 billion, equal to a slight fall of 2.2% from the same period last year, the northern neighbour retained its place as the country’s largest import market, according to the General Statistics Office.
The US was Vietnam’s leading export market in the first five months of the year, with export turnover of 24.6 billion USD, an 8.2 percent increase compared to last year.
The US was Vietnam’s leading export market in the first five months of the year, with export turnover of 24.6 billion USD, an 8.2 percent increase compared to last year.
In the difficult economic context caused by the novel coronavirus (COVID-19) pandemic, the Vietnam Association of Seafood Exporters and Producers (VASEP) suggested tuna processors and exporters tap the domestic market.
Exports to China may bounce back in the time to come thanks to rising demand as the northern neighbour further contains COVID-19, according to the Ministry of Industry and Trade (MoIT).
The wood industry is facing a ‘disaster’ with many businesses left without orders from now until 2021 due to the COVID-19 pandemic, said the Vietnam Timber and Forest Product Association (VTFPA).
HCM City earned 9.85 billion USD from exports in the first quarter of 2020, a year-on-year increase of 7.5 percent, thanks to support policies and effective trade promotion.
Actively seeking new potential markets while maintaining foothold in traditional ones is a solution to help the agricultural sector keep its growth momentum and raise export value, experts said at a forum for exporters of fruit and vegetable held in HCM City on February 27.
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