Day: November 21, 2022

Vietnam will promote the use of e-commerce channels to expand export markets and enable enterprises to participate in foreign distribution networks.

 

Under the Government’s project of promoting Vietnamese enterprises to directly participate in foreign distribution networks by 2030 approved early last week, besides traditional channels, e-commerce channels will play an important role in helping Vietnam’s enterprises to develop a strategic relationship with foreign distribution networks towards building a stable and sustainable production – export – distribution model.

 

The project hopes that by 2030, Vietnamese goods will be put on shelves of traditional and online distribution chains in all countries that have free trade agreements with Vietnam.

 

Support in market information would be provided to around 20,000 enterprises and training and consultancy to 15,000 enterprises to help them improve competitiveness and gradually participate in the global value chains. In addition, 5,000 enterprises will be provided with support to build capacity of joining cross-border e-commerce.

 

At the same time, 10,000 trade connections and exchanges would be organised to connect Vietnamese firms with foreign distribution networks while more than 10,000 products will be provided with support to be able to go directly into foreign distribution networks.

 

With the project, Vietnam aims to develop import and export markets to ensure sustainable growth in the long term and encourage Vietnamese firms to participate strongly in the global production, supply, and distribution chains, directly export to foreign distribution networks on the basis of promoting strengths and taking full advantage of Vietnamese export products’ competitive advantages.

 

The project is expected to contribute to changing the production thinking and organisation toward a methodical and sustainable director, thereby, enhancing the long-term competitiveness of enterprises and building the image of Vietnam as a country which is capable of supply goods in large quantities with quality and prestige.

 

Policies and mechanism will be developed to encourage foreign enterprises to build sustainable purchasing strategies with Vietnamese market and encourage Vietnamese enterprises to actively develop distribution agent systems in foreign countries.

 

The Vietnam E-Commerce and Digital Economy Agency under the Ministry of Industry and Trade said that the department would organise activities to promote trade exchanges in foreign countries and promote made-in-Vietnam products via online channels and foreign e-commerce platforms, aiming to expand markets and accelerate cross-border trade.

 

With focus on promoting sales of farm produce, the department is working with domestic and foreign e-commerce platforms such as Amazon, Alibaba, Google, Shopee, Voso, Tiki and Lazada to connect and provide training about e-commerce knowledge and skills, especially cross-border trade.

 

The ministry said that the focus will be placed on promoting export to ensure a harmonised and sustainable trade balance and providing supports for enterprises to penetrate and expand in foreign markets.

 

Vietnam was on track to reach a trade value of 700 billion USD this year, after achieving more than 616 billion USD in the first nine months of this year, a rise of 14.1% against the same period last year./.

 

Source: Vietnam News Agency

 

Talks on the upgrade of ASEAN’s free trade area with China have been launched while negotiations on upgrading the one with Australia and New Zealand wrapped up recently.

 

Leaders of ASEAN and China have announced and welcomed the official launch of negotiations for the upgrade of the ASEAN-China Free Trade Area (ACFTA).

 

Speaking at the recent 25th ASEAN-China Summit in Cambodia’s Phnom Penh, they affirmed that the upgrade is meant to ensure that the ACFTA helps further deepen and broaden ASEAN-China economic relations and contribute to the region’s post-pandemic economic recovery.

 

ACFTA is ASEAN’s oldest free trade agreement among its dialogue partners. Upgrading ACFTA sends a signal to the private sector and all stakeholders that both ASEAN and China are committed to making the ACFTA more relevant to businesses that are responsive to global challenges.

 

The upgraded ACFTA will cover areas of mutual interest, including the digital and green economies, supply chain connectivity, competition, consumer protection, and micro, small, and medium enterprises.

 

China is ASEAN’s largest trade partner and the second largest source of foreign direct investment (FDI).  In 2021, total merchandise trade between the two sides reached 669 billion USD, registering a year-on-year increase of 29% despite the COVID-19 pandemic’s lingering impacts. During the same period, FDI flows from China to ASEAN amounted to 13.6 billion USD, almost double the 7.0 billion USD in 2020, and equivalent to 7.8% of total FDI into the bloc.

 

Moving forward, the upgraded ACFTA will further support these trends and momentum, according to the ASEAN Secretariat.

 

Meanwhile, leaders of Cambodia – the 2022 Chair of ASEAN, Brunei – the country coordinator for ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), Australia, and New Zealand have announced the substantial conclusion of the negotiations for the AANZFTA upgrade.

 

The upgrade was said to be a key priority economic deliverable of Cambodia’s Chairmanship of ASEAN, according to the announcement made at the 40th and 41st ASEAN Summit in Phnom Penh.

 

Trade between ASEAN, Australia and New Zealand remained robust despite the global effects of the COVID-19 pandemic and geopolitical tensions. In 2021, total merchandise trade between ASEAN and Australia reached 81.6 billion USD, up 49% year-on-year and higher than pre-COVID-19 rates. Meanwhile, trade between ASEAN and New Zealand last year reached 11 billion USD, growing by 22.5%. In 2021, FDI from Australia and New Zealand to ASEAN amounted to 589 million USD.

 

The agreement establishing AANZFTA, signed in Thailand on February 27, 2009, is being upgraded to ensure that it is fit-for-purpose and is future-proofed against emerging challenges. The upgrade also aims to maintain its high standard, remain relevant for businesses, enable it to effectively contribute to post-pandemic economic recovery efforts, and efficiently respond to global and regional challenges.

 

ASEAN Secretary-General Dato Lim Jock Hoi, one of the chief architects of AANZFTA, welcomed the substantial conclusion of the talks on the upgrade. He further highlighted AANZFTA’s instrumental role in strengthening not only the ASEAN-Australia comprehensive strategic partnership and ASEAN-New Zealand strategic partnership, but also regional economic integration./.

 

Source: Vietnam News Agency

A delegation of the Communist Party of Vietnam (CPV), headed by Hoang Duy Chinh, member of the Party Central Committee, has attended the 11th General Assembly of the International Conference of Asian Political Parties (ICAPP) in Turkey.

 

Themed “The Role of Political Parties in Strengthening Dialogue for Global Peace, Prosperity and Cooperation,” the function took place in Istanbul from November 17-20.

 

It saw the participation of 69 political parties from 31 Asian countries and a number of observers from  parties, international and regional organisations and diplomatic missions in Turkey.

 

The meeting unanimously adopted the Istanbul declaration, expressing concern about the growing uncertainties and disputes in many regions of the world; and emphasising the importance of upholding the special role of cooperation between political parties and political relations via strengthening dialogue and coordination among political parties in Asia and across the globe for peace, security, prosperity and development.

 

At the event, Vietnam affirmed that it always attaches importance to the role of party external relations and multilateral political party forums.

 

It emphasised that the CPV, as a member of the ICAPP Standing Committee, will continue to join Asian political parties’ efforts in contribution to ICAPP’s activities and priorities, building ICAPP into a leading multilateral political party organisation in the region and the world.

 

On the sidelines, the Vietnamese delegation had bilateral meetings with foreign political parties to discuss measures to step up cooperation with them in the time to come./.

 

Source: Vietnam News Agency

Chairman of the National Assembly (NA) Vuong Dinh Hue on November 21 had a meeting with President of the Thai National Assembly Chuan Leekpai on the sidelines of the 43rd ASEAN Inter-Parliamentary Assembly (AIPA-43) in Phnom Penh, Cambodia.

 

The two leaders expressed their delights at growing relations between Vietnam and Thailand over the past time and noted that the nations’ exchange of delegations at all levels and bilateral cooperation mechanisms have been maintained effectively.

 

The ties between the two NAs have been sustained and developed soundly, they said, appreciating Thai parliamentarians’ support for strengthening cooperation between Vietnam and Thailand.

 

For the 10th anniversary of the countries’ strategic partnership in 2023, both sides agreed to increase the exchange of all-level delegations; between the two legislative bodies; between the two peoples.

 

Hue took the occasion to thank Thailand for creating favourable conditions for the Vietnamese community there and proposed such assistance be continued.

 

He invited the Thai NA leader to visit Vietnam in an appropriate time./.

 

Source: Vietnam News Agency

 

 

A 5.6-magnitude earthquake killed at least 36 people and injured about 700 others in Cianjur town, Indonesia’s West Java province on November 21 afternoon, according to the town’s authorities.

 

Herman Suherman, a government official in Cianjur, said that some residents were trapped in the rubble of collapsed buildings. News channel Metro TV showed what appeared to be hundreds of victims being treated in a hospital parking lot.

 

According to the National Disaster Mitigation Agency (BNPB), the quake’s epicentre was at a depth of 10 km (6.2 miles). There was no potential for a tsunami.

 

Indonesia is prone to earthquakes as it sits in a vulnerable area called the Pacific Ring of Fire./.

 

Source: Vietnam News Agency