The constantly increasing international freight rates are forcing Vietnamese exporters to increase orders at CIF prices to retain customers.
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With commitments to open the goods market, offer great incentives in terms of tariffs and import and export facilitations, and thanks to favourable geographical locations and cultural characteristics similarities, the ASEAN market is always wide open for Vietnamese businesses to deploy.
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Mr. Bui Chinh Nghia, Deputy Director of the General Department of Forestry (Ministry of Agriculture and Rural Development) in an interview with Customs News affirmed that, after obtaining positive results in the first half of the year, Vietnam's wood and forest product exports are expected to reach US$15.5 billion for the whole of 2021, an increase of US$1.5 billion compared to the initial target.
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In a document sent to the Economic Committee of the National Assembly on mechanisms and policies to remove difficulties and promote production and business development amid the Covid-19 pandemic, the Chamber of Commerce and Vietnam Industry (VCCI) emphasised the need to pay more attention to small and micro enterprises due to their weak resilience.
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E-logistics is a rather new concept even to the logistics industry in Việt Nam.
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From now until the end of the year, orders of many important export industries such as textiles, wood, aquatic products are quite positive. However, many businesses are worried about production disruption; supply cannot meet demand because of developments of the Covid-19 pandemic in a series of localities across the country.
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Vietnam has many advantages to accelerate exports to the African market, in order to diversify export markets.
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Local businesses are looking at rosy opportunities to boost exports of agricultural products to the UK since the UK-Vietnam Free Trade Agreement came into effect from the outset of this year, but more is needed to turn the opportunities into concrete benefits.
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Since its official establishment in the ASEAN Economic Community, Vietnam has been boosting its exports to the region thanks to the bloc’s trade facilitation, with the country making efforts to lure regional funding, optimising investment in its conditional sectors.
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One year after the EU-Vietnam Free Trade Agreement (EVFTA) came into effect, bilateral trade and investment relations have seen positive results despite the obstacles caused by COVID-19.
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