The VN Trade Office in the Republic of Korea has urged enterprises to strictly comply with regulations on pesticide residue levels when exporting farm produce to this market.
Vietnam's seafood exports rose by 64% year-on-year in January to nearly US$750 million, with shipments to China, the U.S. and the EU seeing sharp increases.
Vietnam exported 12,000 tonnes of tea worth more than US$21 million in January, representing a surge of 85% in both volume and value in comparison to the same period from last year.
Logistics costs have been a headache to the Vietnamese agricultural sector as they account for a lion share in the price of agricultural products.
The trade and investment targets that Malaysia set for this year are achievable despite the ringgit’s current depreciation versus the US dollar, as many other major fundamentals remain attractive and appealing to global investors, said Malaysian Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
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The report underscores the importance of addressing the challenges faced by local enterprises, particularly small and medium-sized enterprises (SMEs), in accessing trade finance, recommending the development of innovative digital offerings and stronger regulatory frameworks.
The export of fruits and vegetables is forecast to reach $6.5 billion this year, after setting a record of nearly $5.6 billion in 2023.
In 2023, there was an 11.6% decline in exports to the United States compared to the corresponding period in 2022. Despite this setback, the United States maintains its status as Vietnam's largest export market. As we step into 2024, various Vietnamese export sectors are optimistic and anticipate more positive signals from this substantial market.
China became the second largest importer of Vietnamese seafood behind Japan in January, with shrimp and pangasius imports witnessing a four-fold rise compared to the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The number of new enterprises and those resuming their operation this month reached 27,335, up 5.5% year-on-year, and more than 1.3 times higher than the average figure in the 2018-2023 period, statistics show.
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