Australia thwarts ‘Islamic-inspired’ plane attack plot

Hanoi, July 29 (VNA) – Australia and New Zealand have huge potential for Vietnamese products like farm produce, aquatic products, coffee, cashew, computers, telephones and garments, said Nguyen Phuc Nam, deputy director of the Department of Asia-Pacific Market under the Ministry of Industry and Trade at a conference held in Hanoi on July 28.  The ASEAN-Australia- New Zealand Free Trade Agreement (AANZFTA), which took effect from January 1, 2010, plays a key role in enhancing economic relations, trade and investment between ASEAN and Australia and New Zealand, Nam said.  Within the agreement framework, ASEAN countries can enjoy 90 to 100 per cent tariff reductions in Australian and New Zealand markets, and Vietnamese firms should take full advantage of this potential, he said.  He noted that Australia and New Zealand were among the biggest importers in the world since both economies are largely dependent on imported products.  Vietnam’s chief exports to these two markets include agricultural products, seafood, coffee beans, cashews, electronics parts, textiles, footwear and construction material.  If the AANZFTA was utilized well, Vietnamese producers could enjoy all the privileges contained therein, boosting export turnover and earning handsome profits, Nam said.  Statistics from the Ministry of Industry and Trade showed that trade between Vietnam and Australia hit 5.26 billion USD in 2016, up 6.5 percent year-on-year. Particularly, Vietnam enjoyed trade surplus of 480 million USD with Australia in the year.  According to Phan Thi Dieu Linh, expert from the Department of…... [read more]

Seafood processed at Ngo Quyen Export JSC in Kien Giang for export to Australia. (Source: VNA) Hanoi (VNA) – Australia and New Zealand have huge potential for Vietnamese products like farm produce, aquatic products, coffee, cashew, computers, telephones and garments, said Nguyen Phuc Nam, deputy director of the Department of Asia-Pacific Market under the Ministry of Industry and Trade at a conference held in Hanoi on July 28. The ASEAN-Australia- New Zealand Free Trade Agreement (AANZFTA), which took effect from January 1, 2010, plays a key role in enhancing economic relations, trade and investment between ASEAN and Australia and New Zealand, Nam said. Within the agreement framework, ASEAN countries can enjoy 90 to 100 per cent tariff reductions in Australian and New Zealand markets, and Vietnamese firms should take full advantage of this potential, he said. He noted that Australia and New Zealand were among the biggest importers in the world since both economies are largely dependent on imported products. Vietnam’s chief exports to these two markets include agricultural products, seafood, coffee beans, cashews, electronics parts, textiles, footwear and construction material. If the AANZFTA was utilized well, Vietnamese producers could enjoy all the privileges contained therein, boosting export turnover and earning handsome profits, Nam said. Statistics from the Ministry of Industry and Trade showed that trade between Vietnam and Australia hit 5.26 billion USD in 2016, up 6.5 percent year-on-year. Particularly, Vietnam enjoyed trade surplus of 480 million USD with Australia in the…... [read more]

Workers package dragon fruit at Cat Tuong Agricultural Products Producing & Processing Co Ltd. The fruit is favoured by many Korean consumers. — VNA/VNS Photo Minh Tri Domestic companies have not taken full advantage of the incentives offered by preferential tariff policies for Vietnamese firms to sell products to South Korea, according to the deputy director-general of the Asia-Pacific Market Department under the Ministry of Industry and Trade (MoIT). Le An Hai said that South Korea could be a great market for Viet Nam’s agriculture, forest and fishery exports, but Vietnamese agricultural exports accounted for only a small amount of South Korea’s total agricultural import value, which was around US$100 billion last year. Hai spoke at a seminar on promotion of processed Vietnamese food, seafood and agricultural product exports to South Korea held in HCM City yesterday. Reduced tariffs are available under the Viet Nam-South Korea Free Trade Agreement, which came into effect in December 2015, and the ASEAN-South Korea Free Trade Agreement, offering opportunities for Vietnamese exports. “Though China is still the most important market for Viet Nam’s agricultural products [it imported $16 billion worth of Vietnamese agro-forest-fishery products last year], South Korea is one of our top priority markets,” he said. “Like Japan, Australia and New Zealand, South Korea is a very strict market in terms of required quality for imported products. If we can win over these markets, we can access many other markets more easily,” he added. …... [read more]

Seafood processed at the Ngo Quyen Export Joint Stock Company in Kien Giang Province for export to Australia. — VNA/VNS Photo Manh Linh The growing importance of Australia and New Zealand as export markets for Viet Nam was emphasised at a conference on Friday. Organised by the Asia-Pacific Market Department (APMD) under the Ministry of Industry and Trade (MoIT), the conference aimed to provide valuable information and insights for Vietnamese firms exporting or looking to export to these markets. It focused in particular on the Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA). Nguyen Phuc Nam, APMD Deputy Director, said that Viet Nam was fully aware of New Zealand and Australia’s importance as national trade partners. With the AANZFTA in force since January 2010, ASEAN countries can enjoy 90 to 100 per cent tariff reductions in Australian and New Zealand markets, and Vietnamese firms should take full advantage of this potential, he said. He noted that Australia and New Zealand were among the biggest importers in the world since both economies are largely dependent on imported products. Viet Nam’s chief exports to these two markets include agricultural products, seafood, coffee beans, cashews, electronics parts, textiles, footwear and construction material. If the AANZFTA was utilized well, Vietnamese producers could enjoy all the privileges contained therein, boosting export turnover and earning handsome profits, Nam said. Phan Thi Dieu Linh of the APMD also commented that despite Australian consumers’ strict…... [read more]

Seafood products are processed at Ngo Quyen Seafood Processing Joint Stock Company in Kien Giang Province for exporting to Japan, South Korea, Australia and the Europe. South Korea for the first time became Viet Nam’s second-largest trade partner in the first half of 2017. – VNA/VNS Photo Manh Linh South Korea has surpassed the US, the European Union and ASEAN for the first time to become Viet Nam’s second-largest trade partner, after China. According to the General Department of Customs, in the first half of this year, trade value between Viet Nam and South Korea reached $29.12 billion, accounting for 14.7 per cent of total national trade value, of which export value from Viet Nam to South Korea stood at $6.57 billion while import value from South Korea to Viet Nam was $22.56 billion. That import value with strong growth at 51.2 per cent year-on-year made Viet Nam’s trade deficit with South Korea increase to $15.99 billion, higher than its trade deficit with China at $13.72 billion. The Ministry of Planning and Investment said these figures showed that Viet Nam had promoted imports from South Korea and that country, therefore, became the second largest goods supplier of Viet Nam, after China. Viet Nam mainly imported machines and equipment from South Korea for South Korean investors’ factories to produce export goods in Viet Nam. Nguyen Duc Thanh, director of the Viet Nam Institute for Economic and Policy Research, said this development and current…... [read more]

South Korea has surpassed the US, the European Union and ASEAN for the first time to become Viet Nam’s second-largest trade partner, after China. Seafood products are processed at Ngô Quyền Seafood Processing Joint Stock Company in Kiên Giang Province for exporting to Japan, South Korea, Australia and the Europe. South Korea for the first time became Việt Nam’s second-largest trade partner in the first half of 2017. According to the General Department of Customs, in the first half of this year, trade value between Việt Nam and South Korea reached $29.12 billion, accounting for 14.7 per cent of total national trade value, of which export value from Việt Nam to South Korea stood at $6.57 billion while import value from South Korea to Việt Nam was $22.56 billion. That import value with strong growth at 51.2 per cent year-on-year made Việt Nam’s trade deficit with South Korea increase to $15.99 billion, higher than its trade deficit with China at $13.72 billion. The Ministry of Planning and Investment said these figures showed that Việt Nam had promoted imports from South Korea and that country, therefore, became the second largest goods supplier of Việt Nam, after China. Việt Nam mainly imported machines and equipment from South Korea for South Korean investors’ factories to produce export goods in Việt Nam. Nguyễn Đức Thành, director of the Việt Nam Institute for Economic and Policy Research, said this development and current structure of import and export goods reflected the trend of dependence on trade…... [read more]

 Lieutenant General Phan Van Giang receiving Vice Admiral Raymond Griggs At the reception, Vice Admiral Raymond Griggs informed the host of the results of the earlier talks co-held by himself and Deputy Chief of the General Staff of the VPA, Senior Lieutenant General Pham Ngoc Minh. Highly valuing the results of the talks, the host held that the Vietnam-Australia bilateral defense cooperation has earned encouraging achievements over the past time, contributing to realizing contents of the Vietnam-Australia Memorandum of Understanding on Defense Cooperation signed in 2010 and the Vietnam-Australia Comprehensive Partnership. * Earlier in the day, Senior Lieutenant General Pham Ngoc Minh and Vice Admiral Raymond Griggs had talks at the headquarters of the Ministry of National Defense and exchanged notes on the security situation of the world and the region as well as international issues of mutual concern. The two sides agreed to maintain existing dialogue mechanisms and increase cooperation in such fields as exchange of delegations, foreign language training, capacity improvement for military medical and engineer forces to join the UN peacekeeping operations, and sharing of experience in search and rescue. They also agreed to foster consultancy and coordination within the framework of the ASEAN Defense Ministers’ Meeting Plus (ADMM+) and other multilateral forums. Translated by Huu Duong... [read more]

NDO - Taking advantage of the ASEAN - Australia - New Zealand Free Trade Area (AANZFTA) will help Vietnam to promote exports to the Australia and New Zealand markets. The Asia-Pacific Market Department held a seminar, in Hanoi on July 28, to publicise information regarding the markets in Australia and New Zealand and the AANZFTA, in a bid to boost Vietnam's exports to these countries. Deputy Director of the Asia-Pacific Market Department Nguyen Phuc Nam said that the Australian and New Zealand markets play an increasingly important role in trade relations with Vietnam. Nam noted that the two countries are potential markets for a number of Vietnamese exports, including agricultural products, seafood, coffee, cashew nuts, computers, phones, electronic products, garments and textiles, footwear, and construction materials, amongst others. Australia is also among the countries with the highest imports and depends greatly on imports to serve domestic production and consumption. In addition, the AANZFTA, effective from January 2010, plays a crucial role in fostering the commercial and investment relations between ASEAN, Australia and New Zealand. Nam emphasised that under the agreement, the relevant countries agreed to cut down 90-100% of tax lines from 2010 to 2020. Nam hoped that the dissemination of information regarding the advantages given by the agreement will help Vietnam to utilise these advantages and boost the export of goods to the two markets. According to the Ministry of Industry and Trade, Vietnam and Australia posted a two-way trade revenue of US$5.26 billion in 2016, up 6.5% compared…... [read more]

Vietnam firms make good use of FTAs By Tran Thu - The Saigon Times Daily HCMC – Domestic businesses have been taking advantage of the free trade agreements (FTA) signed between Vietnam and other countries. Le Trieu Dung, deputy head of the Multilateral Trade Department of the Ministry of Industry and Trade, told the Daily that local companies had benefited much from the FTAs with the average utilization ratio of 30% recorded last year. This is a higher ratio than some other regional countries, Dung noted, adding the utilization ratio of the ASEAN-South Korea FTA last year was the highest, at over 90%. Businesses in the textile and garment sector benefited most from this FTA since the origin of a textile product is based on the cutting and sewing stages, instead of materials such as textiles, yarn and fabrics. The country’s apparel exports to South Korea shot up 270% in 2009-2011, according to statistics from the General Department of Customs. Dung described preferential tariffs provided in the ASEAN-South Korea FTA and lower product origin requirements as two decisive factors for companies in Vietnam to make the most of this agreement. Vietnam is a signatory to the FTAs between the ASEAN and its partners such as China, South Korea, Japan, Australia, New Zealand and India. The country has also struck a bilateral FTA with Japan and another with Chile. It is in talks over an FTA with the EU and over the Trans-Pacific Strategic Economic Partnership Agreement (TPP). Vietnam plans to…... [read more]

They were rather a low key affair compared to the US election media circus. I cannot read Vietnamese but, as far as I could tell, there was none of the frenetic, drawn out campaigning and mudslinging as in the American elections. There was, however, plenty of coverage in the media and candidates held public meetings across the country to discuss the issues and answer questions so voters were sufficiently informed. Being an outsider from the US, I found this comparative calm quite refreshing and interesting to observe. I particularly liked the classic style posters on display everywhere, encouraging people to vote. Some people may think it is strange to have elections in a one-Party state, but I don't find this difficult to understand. Yes, there is only one Party, the Communist Party of Vietnam, which had its own elections in late 2010, but local representatives for the central parliament and provincial, district and town governments must also be chosen. Vietnamese NA elections could be compared to US primary elections; you do not vote for a particular party but, rather, the representative you think will do the best job. Electronic voting has not yet appeared in Vietnam and the ballots are still counted by hand, similar to the way I voted in the small town where I lived in the USA. While this method may take longer to count and ostensibly have greater potential for human error, it does avoid fiascos like the infamous "dangling chads" of the US 2000 presidential…... [read more]




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