Wto

Nguyen Thi Thu Trang, director of the Centre for WTO and International Trade under the Vietnam Chamber of Commerce and Industry, told VIR that Vietnam will get many trade and investment benefits from the Regional Comprehensive Economic Partnership (RCEP) to which it is a signatory. “In addition to helping Vietnam amplify its trade with the deal’s member countries, and unlike almost other multilateral free trade agreements (FTAs) that have Vietnam’s membership, the RCEP will especially help Vietnam attract more investment from markets that are its top 10 foreign investors including South Korea, Singapore, Japan, China, Thailand, and Malaysia,” Trang explained. The RCEP took effect on January 1 and includes the 10 ASEAN member states along with China, Japan, South Korea, Australia, and New Zealand. According to Trang, while implementing projects in Vietnam, investors would need to import for production and then export abroad, including to RCEP member states. “One of the … [Read more...] about Decades of benefits becoming clear through expansive RCEP

In the first quarter, Vietnam's rice exports reached 1.48 million tonnes, earning 715 million USD. (Photo: danviet.vn) Hanoi (VNS/VNA) - Vietnam's rice exports to the European Union continued to grow in the first quarter of 2022, thanks to the EU - Vietnam Free Trade Agreement (EVFTA), according to the Ministry of Industry and Trade (MoIT). In the first quarter, Vietnam's rice exports reached 1.48 million tonnes, earning 715 million USD, up 24 percent in volume and 10.5 percent in value on year. The rice exports to the EU in the first two months of this year recorded an impressive volume of 15,500 tonnes, earning nearly 12 million USD. The exports rose almost four times in volume and 4.3 times in value compared to 2021. In the bloc, Italy suddenly took the lead in the import volume of Vietnamese rice with an increase of 26 times over the same period. In addition, there were several other key markets such as Germany, France and the Netherlands. The export price of … [Read more...] about EVFTA boosts Vietnam’s rice exports to EU

In the first quarter, Việt Nam's rice exports reached 1.48 million tonnes, earning US$715 million. — Photo danviet.vn HÀ NỘI — Việt Nam's rice exports to Europe continued to grow in the first quarter of 2022, thanks to the Europe-Việt Nam free trade agreement (EVFTA), according to the Ministry of Industry and Trade (MoIT). In the first quarter, Việt Nam's rice exports reached 1.48 million tonnes, earning US$715 million, up 24 per cent in volume and 10.5 per cent in value on year. The rice exports to the EU in the first two months of this year recorded an impressive volume of 15,500 tonnes, earning nearly $12 million. The exports rose almost four times in volume and 4.3 times in value compared to 2021. In the bloc, Italy suddenly took the lead in the import volume of Vietnamese rice with an increase of 26 times over the same period. In addition, there were several other key markets such as Germany, France and the Netherlands. The export price of Việt Nam's rice to the EU … [Read more...] about EVFTA boosts Việt Nam’s rice exports to the EU

In the first quarter, Viet Nam's rice exports reached 1.48 million tonnes, earning US$715 million. — Photo danviet.vn Viet Nam's rice exports to Europe continued to grow in the first quarter of 2022, thanks to the Europe-Viet Nam free trade agreement (EVFTA), according to the Ministry of Industry and Trade (MoIT). In the first quarter, Viet Nam's rice exports reached 1.48 million tonnes, earning US$715 million, up 24 per cent in volume and 10.5 per cent in value on year. The rice exports to the EU in the first two months of this year recorded an impressive volume of 15,500 tonnes, earning nearly $12 million. The exports rose almost four times in volume and 4.3 times in value compared to 2021. In the bloc, Italy suddenly took the lead in the import volume of Vietnamese rice with an increase of 26 times over the same period. In addition, there were several other key markets such as Germany, France and the Netherlands. The export price of Viet Nam's rice to the EU recorded an … [Read more...] about EVFTA boosts Viet Nam’s rice exports to the EU

“Two-lane freeway” The UKVFTA is being compared to a two-lane freeway that helps balance the direction of bilateral trade, according to Deputy Minister of Industry and Trade Tran Quoc Khanh speaking at a March 15 seminar. Vietnamese Deputy Minister of Industry and Trade Tran Quoc Khanh (middle) and Penny Mordaunt, Minister of State at the UK Department for International Trade (right) On March 29, Deputy Minister of Industry and Trade Tran Quoc Khanh and Penny Mordaunt, Minister of State at the UK Department for International Trade co-chaired the first meeting of the Joint Economic and Trade Committee within the framework of the UKVFTA agreement. The two sides praised the agreement’s implementation achievements and emphasized its important role in the bilateral trade growth. Luong Hoang Thai, Director of the Ministry of Industry and Trade’s Multilateral Trade Policy Department, said the UKVFTA has brought bilateral trade to new highs. Whereas in the past, the UK … [Read more...] about UK-Vietnam deal boosts balanced bilateral trade

The EU expects the use of good production practices based on ESG (Environment – Society – Governance) criteria for imported products. EU’s new policies in tightening requirements on product safety and environmental protection for footwear and seafood from Vietnam are putting further pressure on local firms to raise their quality standards. Production at Garment 10 Company. Photo: Thanh Hai As of May 3, local seafood traders are expected to comply with the European Commission (EC)’s new maximum level of mercury in seafood of 0.3-1 mg per kilogram, depending on each product. General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) Truong Dinh Hoe said sustainable seafood production is an irreversible trend and has been a key factor in exporting foodstuffs to the EU. According to Hoe, the EU would continue expecting the use of good production practices based on ESG (Environment – Society – Governance) criteria for imported … [Read more...] about Higher quality standards to ensure Vietnam’s sustainable trade with EU

The latest statistics from the Ministry of Planning and Investment show that as of April 20, 607 foreign cooperation projects have been operational in Vietnam’s education and training sector, with the total investment capital of more than $4.44 billion. Local education ripe for levelling-up, illustration photo/ source: freepik The US, the United Kingdom, and Singapore have been the top educational investors in the past two years, with funding in schools slowing down last year due to long periods of closure – but momentum is being quickly regained. In 2018, the Vietnamese government issued Decree No.86/2018/ND-CP on foreign cooperation and investment in education and training, aiming to develop the private sector. An important part of this decree is the quota increase of the number of local student enrolments allowed in international schools, from 10 per cent for primary school and 20 per cent for secondary school to 50 per cent for all grade levels. Experts believe … [Read more...] about Local education ripe for levelling-up