Trade

According to the Domestic Market Management Team, the export value reached an estimated US$19.2 billion in May 2018, a rise of 4.5 percent compared with April. In the first five months, the export value reached an estimated US$93.09 billion, 15.8 percent higher compared with the same period in 2017. Of this total, US$26.43 billion was the domestic sector’s contribution, up 17.8 percent; and US$66.66 billion was the export value of the foreign invested sector, including crude oil, up 15 percent. … [Read more...] about Five-month trade surplus surges

Visitors at a Vietnamese booth at the event - Photo: VOV The event features over 200 pavilions, including 120 booths set by Vietnamese firms, offering a wide range of commodities such as garment-textile, footwear, agro-forestry-fishery products, handicraft products, processed food, electricity, electronic products, mechanics, chemicals, construction material, fertiliser, industrial plants, cattle-feed, crop varieties, pesticides, and veterinary medicine. … [Read more...] about Vietnam-Laos trade fair opens in Vientiane

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to promote bilateral trade. With Canada’s fast tariff reduction roadmap (from 17-18% to zero percent in three years), some Vietnamese items are forecast to witness strong export growth as from 2019 like textile-garment, footwear, handbags, plastics and wood products. … [Read more...] about Vietnam records surplus in trade with Canada

Hoang Van Du, Deputy Director of the Agricultural Trade Promotion Centre under the Ministry of Agriculture and Rural Development, stated that the Vietnamese businesses’ participation in Foodex 2018 aims to advertise the Vietnamese food brand, while exploring and approaching the Japanese market and learning new technologies in processing and preserving agro-fisheries products from advanced countries. … [Read more...] about Vietnamese food advertised at Foodex Japan 2018 trade fair

The methods used to determine the origin of goods cover wholly obtained goods, regional value content and the harmonized commodity description and coding system, also known as the harmonized system of the World Customs Organization. Individuals and organizations take their production and outsourcing processes into account when using phrases such as “Product of Vietnam,” “Vietnamese goods,” “Made in Vietnam,” “Manufactured in Vietnam,” or “Created in Vietnam” on their goods’ labels. The goods are listed as Vietnamese products if they are wholly obtained or produced in Vietnam or if they are not wholly produced or obtained products but have completed their final production or processing stages in the country, creating fundamental changes in the nature of the products. The goods couldn’t bear Vietnamese origin labels if they have one or more processing or outsourcing stages that are deemed “simple.” … [Read more...] about Trade ministry gathers feedback for Made-in-Vietnam draft circular

In addition, products would be required to qualify for HS code transformation, an internationally standardized system of names and numbers to classify traded products, and certain amount of added-value to be considered Vietnamese products, such as having 30% of localization rate and being processed in Vietnam.  … [Read more...] about Criteria for “made in Vietnam” products announced amid rampant trade fraud