The Red Sea shipping crisis may put a squeeze on Vietnam-based businesses as it lingers on with no foreseeable end in sight.
To stay competitive in the European Union (EU) market, Vietnamese producers must adapt to the Carbon Border Adjustment Mechanism (CBAM), a carbon tariff on carbon-intensive products imported to the EU, which has been set to take effect in 2026, said industry experts and policymakers.
The European - American Market Department at the Ministry of Industry and Trade is confident exports will boom this year.
Vietnam has recorded a trade surplus of 4.72 billion USD in the first two months of 2024, higher than the figure of 3.5 billion USD reported in the same period last year, according to the General Statistics Office (GSO).
Minister of Industry and Trade Nguyễn Hồng Diên led the Vietnamese delegation at meetings within the framework of the 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) held in Abu Dhabi, United Arab Emirates yesterday.
Vietnam’s fruit and vegetable exports in the first two months of this year surged 38% to about 749.7 million USD, which is expected to peak at nearly 7 billion USD this year.
Vietnam’s aquatic product exports saw a strong start to the year, recording a 60.8% annual increase to reach 730 million USD in January, reported the Ministry of Agriculture and Rural Development.
The Vietnam International Trade Fair for Apparel, Textiles, and Textile Technologies 2024 will take place in Ho Chi Minh City from Tuesday to Friday. The fair connects producers, material suppliers, and technology providers in the apparel and textile sector.
Vietnamese enterprises should seize the opportunities to increase rice exports to Indonesia which has allocated an additional rice import quota of 1.6 million tonnes for 2024 as dryness linked to the El Nino delayed harvest in the country, according to the Vietnam Trade Office in Indonesia.
The 13th Vinacas Golden Cashew Rendezvous in Đồng Hới City to discuss ongoing industry issues and new ways ahead for the global cashew industry has attracted more than 370 delegates from 40 countries and territories.
The Vietnam - Laos trade turnover in January increased by 75.8% over the same period in 2023, reaching 174.4 million USD.
The Vietnam Trade Office in Indonesia has suggested that Vietnamese enterprises seize the opportunity to increase their rice exports to Indonesia, as its government has decided to increase the rice import quota by 1.6 million tons for 2024.
Vietnam exported around 12,000 tonnes of tea worth over US$21 million in the first month of 2024, with Pakistan remaining the largest buyer, according to official figures.
Goods consumption in big markets such as the US and the EU is showing brighter signs, creating a driving force for orders for Vietnamese key exports such as garment and textile, packaging, footwear, wood processing, and particularly electronics, with many enterprises have received orders until mid-year.
The total volume of cargo transported through seaports in the first two months of this year is estimated at 111.614 million tons, a year-on-year increase of 8 per cent, the Vietnam Maritime Administration was quoted by the Government News as reporting.
Vietnam’s exports to the United States surpasses the US$10 billion mark in January, representing an increase of 64% compared to the same period from last year, according to data given by the General Department of Vietnam Customs.
Logistics costs have been a headache to the Vietnamese agricultural sector as they account for a lion share in the price of agricultural products.
Over 400 domestic and foreign companies are to attend February 28 - March 1 event.
The two-way trade between Vietnam and China grew vigorously to reach more than US$16.4 billion in January, registering a year-on-year increase of over 48 percent, with a trade surplus for China, according to official statistics.
Vietnam’s shrimp exports are forecast to rebound and rise by 10-15% year-on-year, with revenue reaching US$4 billion, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). T