Stand ready to seize opportunities from EVFTA
As a new free trade agreement (FTA) with the deepest integration levels ever, the EU-Vietnam Free Trade Agreement (EVFTA) will be an important impetus to foster Vietnam's exports to the EU.
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As a new free trade agreement (FTA) with the deepest integration levels ever, the EU-Vietnam Free Trade Agreement (EVFTA) will be an important impetus to foster Vietnam's exports to the EU.
After a two-month trade deficit, the economy is expected to witness high export turnover this year thanks to buoyancy in export-oriented manufacturing fuelled by multilateral trade pacts.
The northern province of Ninh Binh earned an estimated of 351 million USD from exports in the first two months of this year, up 64.7 percent year-on-year, according the provincial Statistics Office.
The total turnover of Vietnam's import-exports is expected to reach US$500 billion this year, according to the General Department of Vietnam Customs.
Vietnam's shrimp exports are expected to increase to more than 4 billion USD in 2019 thanks to free trade agreements, said the Vietnam Association of Seafood Exporters and Producers (VASEP).
The Vietnam Textile and Apparel Association (VITAS) has set the industry's export turnover target this year at 40 billion USD, a 10.8 percent year-on-year increase from 2018.
The northern province of Ninh Binh's export revenue in nine months of 2018 topped 1.1 billion USD, up 33.6 percent year on year, helping the locality fulfill 88.9 percent of its yearly target.
Vietnam could earn about 239 billion USD in export revenue in 2018, up 10 - 12 percent from last year, analysts said, thanks to the favourable domestic and international economic context.
Vietnam exported 4.53 million tonnes of rice in the first eight months of 2018, bringing in US$2.29 billion, a rise of 10.5% in volume and 26.5% in value, according to the General Department of Customs.
Five commodities had export values exceeded US$1 billion in August, according to the Ministry of Industry and Trade.
Vietnam is now the seventh biggest tea producer in the world and the fifth biggest exporter of the product.
2,5 years after the ASEAN Economic Community was established, enterprises in Vietnam have found a way to capitalise on the bloc's import tariff cuts and expand their exports, helping to narrow the years-long trade deficit between Vietnam and ASEAN.
Vietnam has exported more than 15 million tonnes of cement in the first six months of 2018, a sharp increase of 50% over the corresponding period last year.
The export of forestry products in the first six months of the year reached US$ 4.15 billion, accounting for 46 percent of the yearly plan and up nearly 8.4 percent annually.
Vietnam earned 1.1 billion USD from exporting 2.16 million tonnes of rice in the first four months of 2018, up 35.7 percent in value and 21.7 percent in volume.
Vietnam's total steel exports for the first two months of the year increased 38.6% over the same period last year to more than 728,000 tonnes, according to the Vietnam Steel Association (VSA).
Despite market fluctuations, Vietnam's export revenue in 2017 is predicted to reach all time high of over US$212 billion which is also much higher than the revenue of US$176 billion posted in 2016,
This year's seafood export turnover is forecast to expand by 6% to US$7.4 billion when compared to last year's figure, and is set to fulfill its target one month ahead of schedule despite facing a number of notable.
Vietnamese firms ship an annual average of about 0.8 million tonnes of fertiliser overseas, according to the Ministry of Agriculture and Rural Development.
Vietnam will reform rice production to gain sustainable development in the production and export of rice, according to Vietnam's Rice Market Development Strategy from 2017 to 2020.
The exports of agricultural-forestry-aquatic products in June reached US$2.97 billion, raising the total export value in the first half of the year to US$17.1 billion, a year-on-year increase of 13.1%, according to the Ministry of Agriculture and Rural Development.
Revenues from agro-forestry and fishery exports in the first three months of 2017 hit US$7.6 billion, up 7.6 per cent against the same period last year, according to the Ministry of Agriculture and Rural Development.
Vietnam exported 432,000 tonnes of rice for 191 million USD in August, bringing the total volume and value in the first eight months of this year to 3.37 million tonnes and 1.51 billion USD.
Japan's Marubeni Corporation is seeking investment opportunities in coal exports, gas production, renewable energy usage and waste water treatment in Vietnam.