The European Market Department under the Ministry of Industry and Trade (MoIT) noted that Vietnam and Belarus are enjoying a fruitful traditional friendship and multi-faceted co-operation.
Statistics showed that two-way trade revenue reached US$94.5 million in 2016 including US$2.5 million worth of Vietnam's export revenue and US$92 million of Vietnam's import revenue. In the first quarter of 2017, two-way trade was reported at US$37.7 million, including US$1.4 million worth of export revenue and US$36.3 million worth of import revenue.
Vietnam's main exports to Belarus include seafood, furniture, textiles, footwear, rice, natural rubber, cashew nuts, pepper, spices, tea, canned vegetables, pharmaceuticals, and computer.
Meanwhile, Vietnam's key imports from Belarus include fertilizers, machinery, equipment, spare parts for automobiles, tractors, trucks, and chemicals.
According to the MoIT's Import-Export Department, there are about 938 Vienamese enterprises exporting to Eurasia. Of which, about 200 enterprises report large revenue, accounting for 90% of the total export revenue in the areas of seafood, coffee, rubber, tea, rice, cashew nuts, pepper, textiles, footwear, and wood.
It is believed that the enhanced co-operation with the EAEU will open up significant opportunities for the export of Vietnamese products combined with many challenges due to fierce competition with products from EAEU itself.
At the recent meeting of Vietnam-Belarus Inter-Governmental Committee on Economic, Trade, Scientific and Technological Cooperation in Hanoi, Belarusian Deputy Prime Minister Vladimir Semashko was delighted at the expanded co-operation between Vietnam and Belarus in economy, trade and science-technology.
In particular, the effectiveness of the Vietnam - EAEU FTA has created favourable conditions for businesses of the two countries to enhance trade and investment co-operation.
Vietnamese Minister of Industry and Trade Tran Tuan Anh affirmed that the effectiveness of the Vietnam-EAEU FTA marks a turning point in the process of Vietnam's integration with large countries in the world.
To make full use of the agreement, businesses should strive to develop its new strategies and solutions to create high value products capable of competing with foreign partners and standing steady on the domestic market, Anh said.
Minister Anh noted that Vietnam and Belarus will continue to promote co-operation in trade, investment, industry, transport, education and training in order to bring the bilateral relations to a new level.
Source: Nhandan
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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