While the weakening yuan has allowed Vietnamese importers to benefit from cheaper material costs, exporters are feeling the pinch. The yuan declined to 6.9075 per U.S. dollar on Nov. 6, according to Xinhua News Agency. The move has dragged the yuan down by almost 9 percent from the beginning of this year, the steepest drop in the last 10 years.
A Vietnam trade promotion office, the second of its kind in China, was inaugurated in Hangzhou city in the eastern province of Zhejiang on November 5.
The World Economic Forum announced today that its Annual Meeting 2019 in Davos-Klosters will focus on “Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution”.
National Assembly deputies will discuss the ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and related documents on November 5 morning as part of their ongoing sixth session.
Vietnam has made encouraging achievements in improving the local business climate and national competitiveness since the issuance of Resolution No 19 in 2014.
Last year more than 40 billion packages were delivered in China – half the world’s global total. In other impressive statistics, China has 40 per cent of the road freight in OECD countries and around 24 per cent of rail freight.
Vietnam’s signing of the Forest Law Enforcement, Governance and Trade Voluntary Partnership Agreement (FLEGT-VPA) with the European Union (EU) will help the country boost wood product exports to not only the EU but also many other markets, according to an official.
Prime Minister Nguyen Xuan Phuc received Polish Ambassador Wojciech Gerwel in Hanoi on October 31, noting that having served as a trade counsellor in Vietnam for many years, the diplomat will bring bilateral economic and trade ties to a new level.
Thriving economic cooperation has been a highlight of the Vietnam-Japan extensive strategic partnership, with bilateral trade value growing steadily towards a more balanced relationship in recent years.
French Prime Minister Édouard Philippe’s official visit to Vietnam from November 2-4 is expected to help bolster the bilateral strategic partnership.
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