The Cambodian Government has been pushing for the establishment of more bilateral free trade agreements (FTAs) with main trade partners in order to expand export markets for its products.
Despite a sharp fall in exports before the end of 2022 due to global inflation, tuna still brought home 1 billion USD in revenue last year, up 34% from 2021, becoming a billion-dollar commodity for the first time, data showed.
Despite the hard work of small and medium-sized domestic packaging companies to stay in tune with market demands and apply the latest production technologies, they continue to face a host of challenges.
The implementation of free trade agreements (FTAs) will continue to prove fruitful for Vietnam in 2023, said Minister of Industry and Trade Nguyen Hong Dien.
Since its World Trade Organisation (WTO) membership in 2007, Vietnam has engaged in more than 500 bilateral and multilateral agreements in various fields, including 7 free trade agreements (FTAs).
The EU and ASEAN have maintained good relations so far, but the EU has begun to pay more attention to promoting relations with ASEAN amidst the current geo-political context, said Axel Goethals, CEO of the European Institute of Asian Studies (EIAS).
After a period of implementation, new-generation FTAs have brought into play their positive effects, with markets broadened and export revenue considerably increasing.
Aquatic exports are forecast to have hit a record of 10 billion USD in this November thanks to businesses’ flexible adaptation to changes in the global market, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnamese businesses are increasingly interested in the South African market and want to explore investment opportunities to take advantage of the free trade agreements that South Africa has signed with major markets, including the US and Europe as well as the African market, Vietnamese Ambassador to South Africa Hoang Van Loi has said.
Principal country economist of the Asian Development Bank (ADB) Nguyen Minh Cuong said on October 27 that Vietnam’s economic recovery in the past nine months was impressive, believing that its mid and long-term growth prospect is bright.
Vietnam's import and export activities will face many difficulties and challenges in the last months of this year and into the next, according to Nguyen Cam Trang, Deputy Director of the Agency of Foreign Trade under the Ministry of Industry and Trade (MoIT).
Vietnamese exporters need to continue to improve the reliability of agricultural products and ensure quality, safety and sustainability to compete globally, industry insiders said.
The Mekong Delta province of Tien Giang aims to have 3.6 billion USD in export turnover of goods for this year, much more than 2021 and exceeding the plan for 2022 by 7.46%.
Vietnam and India should further strengthen connectivity to record more robust growth in bilateral trade, which is expected to hit 15 billion USD this year and surpass the record the two countries set in 2021, Indian analysts have said.
Thanks to the development of a network of industrial parks and clusters as well as efforts to accompany investors, Hanoi has remained one of the bright spots of the country in foreign direct investment (FDI) attraction.
Vietnam has a “golden chance” to attract a new wave of foreign investment, especially to economic zones (EZs) and industrial parks (IPs), according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
Vietnam’s industrial real estate in Vietnam has the potential to grow as demand continues to rise due to a shift in supply chain to the country, according to Savills Vietnam.
Vietnam and India hold great potential for cooperation in establishing supply chains following COVID-19, which has seriously affected both economies over the past two years due to disruptions in regional and global supply chains, according to Indian analysts.
Economic ministers of the Association of Southeast Asian Nations (ASEAN) and partners held consultations on September 17 - 18 as part of the 54th ASEAN Economic Ministers’ Meeting (AEM-54) and related meetings in Siem Reap, Cambodia.
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