Vietnam boosts trade promotion in Argentina, Paraguay

The event saw the participation of 60 enterprises from the two nations. Addressing the opening ceremony, CAME President Fabian Tarrio highlighted Vietnam’s potential and room for trade exchanges between the two nations, expressing his hope that CAME will become a bridge to connect the two sides’ enterprises, contributing to raising their bilateral trade value. For his part, Vietnamese Ambassador Dang Xuan Dung underlined the remarkable growth rate of 20 percent on average during 2012-2016 of the economic–trade relations between Vietnam and Argentina since the Vietnam – Argentina comprehensive partnership was established in 2010. CAME President Fabian Tarrio speaking at the event. Photo: Vietnam+ He noted that Argentina is one of the most important partners of Vietnam in Latin America. According to the Ambassador, the 45th anniversary of the diplomatic ties in 2018 will be an important milestone in the long-term comprehensive cooperation between the two nations. He suggested the two sides play a more active role in the Association of the Southeast Asian Nations (ASEAN) and the South America’s Trade Bloc MERCOSUR, in order to help each other enter the market in those two regions. Tran Duy Dong, Director of the America Market Department under the Ministry of Industry and Trade said Argentina is a potential market for Vietnamese key exports such as footwear, garment-textile, wood products, and handicraft. Vice versa, with a population of nearly 100 million people and increasing purchasing power, Vietnam is also a promising market…... [read more]

NDO/VNA – The Vietnamese Embassy in Argentina and the Argentinean Confederation of Medium Enterprises (CAME) jointly held a business workshop in the country’s capital city of Buenos Aires, on July 25. The event attracted the participation of 60 enterprises from the two nations. Addressing the opening ceremony, CAME President Fabian Tarrio highlighted Vietnam’s potential and the room for trade exchanges between the two nations, expressing his hope that CAME will become a bridge serving to connect the two countries’ enterprises, contributing to raising their bilateral trade value. For his part, Vietnamese Ambassador Dang Xuan Dung underlined the remarkable average growth rate of 20% during the 2012-2016 period of the economic–trade relations between Vietnam and Argentina, since the Vietnam – Argentina comprehensive partnership was established in 2010. He noted that Argentina is one of Vietnam’s most important partners in Latin America. According to the Ambassador, the 45th anniversary of the diplomatic ties in 2018 will be an important milestone in the long-term comprehensive cooperation between the two nations. He suggested that the two sides play a more active role in the Association of the Southeast Asian Nations (ASEAN) and the South America’s Trade Bloc MERCOSUR, in order to help each other enter the market in the two regions. Tran Duy Dong, Director of the America Market Department under the Ministry of Industry and Trade said Argentina is a potential market for key Vietnamese exports such as footwear, garment-textile, wood products, and handicraft. Meanwhile, with a population of nearly 100 million people…... [read more]

On the sidelines of the on-going National Assembly session on October 29, the minister said there are many factors that can result in deflation, such as the consumer price index (CPI), business’ production power, people’s purchasing power and market consumption levels. The country experienced a fall in CPI during October, mainly because of the sudden decrease in the prices of a number of commodities in the world market, with the price of crude oil plummeting from US$147 per barrel in July to its current price of just over US$60 per barrel. Speaking about Vietnam’s high growth rate target in the context of the global economic downturn and other regional countries’ avoidance of a negative growth rate, the minister said the country’s financial and monetary markets are not likely to suffer as much as other countries’ markets who deeper integrated into the world’s economy. Vietnam will also not be affected by a decrease in exports, as the majority of the country’s main export items are essential goods, such as garments, textile products, farm produce and food, Minister Phuc said. To reduce its dependence on exports, the minister revealed that the country will place greater importance on the domestic market in order to stimulate local demand.... [read more]

Major trade expo opens in city By Quoc Hung - The Saigon Times Daily HCMC - The seventh annual Vietnam International Trade Fair, or V.I. Trade Expo 2009, opened on Wednesday at the Saigon Exhibition & Convention Center, 799 Nguyen Van Linh Street in HCMC's District 7. The five-day event is organized by the Vietnam National Trade Fair and Advertising Company (Vinexad). According to Vinexad, the Korea Pavilion has 50 booths displaying products made from ginseng, cosmetics, herbal products, toothbrushes, toothpastes, soaps and flavors. Korean exhibitors are also displaying industrial equipment such as pumps, pipelines, building materials, rubber spare parts, casting moulds, finishing materials and packaging machines. The Chinese Pavilion has 48 companies showing hydropower equipment, fertilizers, chemical products, vacuum processing equipment, automobile parts, air conditioners, food, electrical appliances, chemicals, and construction materials. The Malaysian Pavilion has 24 booths showing foods and beverages, health care services, solar water systems, water purification equipment and software. For this year's exhibition, the organizers introduce a new section, Housing & Furnishing, attracting Vietnamese companies showcasing handicrafts, ceramics, rattan items, wooden toys, flooring materials, wooden ceilings, walls of natural wood and sofas and beds. In related news, companies from 21 countries and territories have come to sound out business prospects in the construction market through a four-day trade fair which opened in HCMC on Tuesday. ConBuild Vietnam 2009, the third international trade fair for construction and building machinery, equipment, materials, vehicles, technology and service, is attended by more than 200 companies from dozens of countries…... [read more]

Vietnam urged to boost supporting industry Truong Thi Chi Binh, director of the Supporting Industry Development Enterprise Centre, told the Nepcon Vietnam Forum that the number of Vietnamese firms in the sector remains modest, with most of them being small or medium-sized enterprises. Only a few of them are part of the production chain of multinational companies, according to Binh. Poor production and trading competence and lack of market information are the main factors that prevent domestic firms from entering the global manufacturing chain. But with the free trade agreements the country has signed, more and more foreign investors will come to Vietnam, providing them opportunities to do so. Japanese companies are the largest auto suppliers to the US and Canada, but most of their factories are based in China. Many people think Japanese auto firms will shift their factories in China to Vietnam or open new factories here to take advantage of the Trans-Pacific Partnership. "The question is whether Vietnamese firms can capitalise on this opportunity," Binh said. She urged local firms to improve their technologies, management and foreign language competence and promote their products better. Pham Tuan Anh, deputy general director of the Division of Heavy Industries, said supporting industries provide the foundation for key industries by supplying components. "A country's industrial sector cannot develop if its supporting industries are not developed since the latter determines production cost and value addition for finished products and thus their competitiveness," he said. "Though the Government has policies in place to…... [read more]

Illustrative image (Source: VNA) Mexico City (VNA) – A delegation from the National Chamber of Textile, Industry of Mexico (Canaintex) will make a trip to Vietnam from August 27-28 to explore the garment-textile sector. The delegation is scheduled to visit seven factories and one industrial zone to study the process of making fiber and apparel products. According to the Chamber, the Trans Pacific Partnership agreement, once effective, will allow Vietnam to ship its garment-textile products to more markets, particularly the US. Vietnam is the second biggest garment-textile supplier of the US, while Mexico is the sixth. Statistics show that Vietnam shipped to the US 11 billion USD worth of garment-textile products last year. In the first half this year, the figure hit 4.29 billion USD, up 5.93 percent from the same period last year.-VNA FTA... [read more]

The one-billion-strong African market with high demand for agricultural and food products – Vietnam’s strengths – can be regarded as a potential market for Vietnamese exporters, experts said at a seminar in Ho Chi Minh City last week. According to what was discussed in a forum on Thursday on business cooperation between African nations and the Mekong Francophone countries, Vietnamese shipments of agricultural and food products reached US$30.8 billion last year, up 11.2 percent year on year. This led to a 2015 target of $33 billion, as set by the Vietnamese Ministry of Agriculture and Rural Development earlier this year. Trade between Vietnam and African nations, especially within the eight-member West African Economic and Monetary Union (UEMOA) and the six-member Economic and Monetary Community of Central Africa (CEMAC), is increasing, said Hoang Duc Nhuan, deputy director of the South-West Asia and Africa Department under the Ministry of Industry and Trade. Bilateral trade between Vietnam and African countries increased more than 4.7 times from $353 million in 2007 to $1.19 billion in 2014, Nhuan said. According to the Ministry of Industry and Trade, trade between Vietnam and the UEMOA countries rose fivefold from $180 million in 2007 to $854 million last year. At the same time, bilateral trade between the Southeast Asian country and the CEMAC nations also soared from $72.6 million in 2007 to $340.8 million in 2014. The main Vietnamese items to be exported to the African market recently have included rice, mobile phones, textiles, coffee, cashew nuts, vegetables,…... [read more]

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Boosting exports to Japan was the discussion focus at a seminar held on July 21 in Hanoi. The event, organised by the Small- and Medium-Sized Enterprise (SMEs) Association, aims to assist local SMEs in fully tapping the opportunities offered by the Vietnam-Japan economic partnership agreement from 2015-2019. Participants pointed out that strong tariff cuts under the agreement has opened up opportunities for domestic products to enter the Japanese market, especially key agro-aquatic and garment-textile products. Tran Dinh Thien, Director of the Vietnam Economics Institute, said domestic enterprises should focus on product’s added value rather than productivity as well as on developing products unique to Vietnam. Echoing Thien’s opinion on improving product quality, Nguyen Son from the cross-sector Steering Committee for international economic integration stressed the need for domestic products to meet Japanese standards to enter the particular market. Do Van Dung, Chairman of the Vietnam-Japan enterprises association also underlined the improvement in production methods and process to meet Japanese requirements in product quality and safety.-VNA... [read more]

The production index of national garment-textiles during the first month of 2014 increased 26.9 percent over the same period last year. According to the Ministry of Industry and Trade, this is the highest growth rate among all industries in the month just gone. Le Tien Truong, Deputy General Director of the Vietnam National Textile and Garment Group (Vinatext), attributed the positive result to a large number of contracts won by major firms in the sector during late 2013. Last year, many enterprises invested highly in expanding production items, while offering attractive salaries and bonuses, helping them keep enough workers for production, Truong added. He forecast the sector to continue thriving this year, with a clear possibility of reaching 12 percent in export value. In January, export turnover of footwear, suitcases and handbags also saw an increase of over 12 percent to 1.3 billion USD. The Vietnam Leather and Footwear Association (Lefaso) hopes to rake in around 11.33 billion USD from export this year.-VNA... [read more]




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