Being flexible in accessing distribution systems, overcoming logistical difficulties and making good use of free trade agreements (FTA) are important factors for Vietnamese goods to better access the Eurasian market in the coming time, said insiders.
Vietnam earned nearly 336.25 billion USD from exports in 2021, up 19 percent from the previous year, the Ministry of Industry and Trade (MoIT) reported on January 9.
Two-way trade between Vietnam and Laos is estimated at 1.3 billion USD in 2021, a year-on-year rise of 30.3 percent, according to Deputy Minister of Industry and Trade Tran Quoc Phuong.
As vegetarians make up a large proportion of Indian population and people in the country consume imported dragon fruit at weddings, it is a huge potential market for Vietnam’s dragon fruit, according to trade counsellor Bui Trung Thuong.
Industry continued to prosper last year, with added value increasing by 4.82 per cent compared to 2020, which will be an important factor in boosting national economic growth in 2022.
The strategy of exporting cheap coffee to compete is no longer appropriate. Coffee growers need to invest to produce high-quality Arabica coffee in order to access the market of trading high-quality coffee for hotels and restaurants in the UK.
Three more members have been added to a Domestic Advisory Group (DAG) established under the EU-Vietnam Free Trade Agreement (EVFTA), pushing the total number of its official members to six.
As a driving force of economic growth, enterprises should be more proactive in building production and business plans in the new situation given complicated developments of the COVID-19 pandemic, Minister of Industry and Trade Nguyen Hong Dien has said.
Despite the recent backlog of vehicles at customs posts, China was still the largest consumer of Vietnamese fruit and vegetables in 2021.
In 2021, out of a total of 46 newly registered FDI enterprises in Vietnam's wood and forest product processing industry, 41 are from China. The average capital for business registration/enterprise is quite low, reaching only US$1.54 million.
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