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Vietnam stainless steel round wires not evade US’s anti-dumping duties: MoIT

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4 months ago

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Vietnam’s stainless steel round wires made from materials imported from the Republic of Korea (RoK) do not evade the US’s anti-dumping duties, affirmed the Department of Trade Defence under the Ministry of Industry and Trade (MoIT), citing a document issued by the US’s Department of Commerce (DOC) on May 22.

Vietnam stainless steel round wires not evade US’s anti-dumping duties: MoIT hinh anh 1Illustrative image (Source: baodautu.vn)

Hanoi – Vietnam’s stainless steel round wires made
from materials imported from the Republic of Korea (RoK) do not evade the US’s
anti-dumping duties, affirmed the Department of Trade Defence under the
Ministry of Industry and Trade (MoIT), citing a document issued by the US’s Department of Commerce (DOC) on May 22.

The DOC’s final conclusion on an anti-dumping tax evasion
investigation into stainless steel round wires imported from Vietnam affirmed that the products are free from anti-dumping tax evasion.

The conclusion is the same as what DOC said in December
2022 that Vietnam’s stainless steel round wires manufactured from materials
imported from the RoK did not evade the anti-dumping duties that the US was
imposing on similar products of the RoK.

According to the Department of Trade Defence, anti-dumping
tax evasion investigations into Vietnam’s stainless steel round wires started
in February 2022. Data from the US International Trade Commission (USITC)
showed that Vietnam’s exports of steel products coded HS 7223 in 2021 was
about 4.9 million USD./.

Source: https://en.vietnamplus.vn/vietnam-stainless-steel-round-wires-not-evade-uss-antidumping-duties-moit/253692.vnp

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Zhejiang Trade Exhibition opens in Hanoi

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3 hours ago

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October 4, 2023

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The 2023 Zhejiang International Trade Exhibition and the 11th Zhejiang Export Fair, the largest and oldest expo independently held by China’s Zhejiang authority in ASEAN, opened at the Hanoi International Convention Centre on September 28.

Zhejiang Trade Exhibition opens in Hanoi hinh anh 1At the opening ceremony of the exhibition (Photo: VNA)

Hanoi – The 2023 Zhejiang International Trade Exhibition
and the 11th Zhejiang Export Fair, the largest and oldest expo independently
held by China’s Zhejiang authority in ASEAN, opened at the Hanoi International
Convention Centre on September 28.

The 4,000sq.m expo features 120 booths, displaying
products in hardware and machinery, textiles and inputs, interior and exterior
furniture, electronics and household appliances.

The three-day event is hosted by the Department of Commerce of Zhejiang province, and co-organised by Zhejiang Yuanda International Exhibition Co Ltd and
the Vietnam National Trade Fair and Advertising Company (VINEXAD).

Deputy Director of the Asia-Africa Market Development under the Ministry of
Industry and Trade  (MoIT) To Ngoc Son
said this is the 11th year the two sides have coordinated to
organise the trade promotion activity which marks the full recovery of economic
and trade exchanges between the two nations after three years of hiatus due to COVID-19.

Zhejiang Trade Exhibition opens in Hanoi hinh anh 2Deputy Director of the Asia-Africa Market Development To Ngoc Son speaks at the opening ceremony. (Photo: VNA)

The event is expected to create more cooperation opportunities for businesses
from both nations in the context that the global economy is facing a gloomy outlook,
he said, adding Zhejiang province – an important gateway in China’s eastern
region has an important role to play in the Vietnam – China trade, with Vietnam
– Zhejiang trade revenue accounting for 10% of the total trade between
the two nations in 2022.

Launched in 2011, the expo has been a platform not only for product exhibition
and promotion but also for Vietnam and China to strengthen economic and cultural
exchanges and multifaceted cooperation between their localities.

Last year, Zhejiang’s exports
to Vietnam reached 14.5 billion USD, an increase of 17.99%, while imports were 6
billion USD, up 14.21% over the same period last year.

The exhibition will run until September 30./.

Source: https://en.vietnamplus.vn/zhejiang-trade-exhibition-opens-in-hanoi/268734.vnp

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Vietnam’s nine-month economic growth reported at 4.24% YoY

The country’s GDP grew by 4.24% in the first 9 months, exceeding the growth rate of 2.19% and 1.57% in 2020 and 2021, according to data from the General Statistics Office.

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4 hours ago

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October 4, 2023

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The results suggest that the economy is experiencing a notable upswing, potentially due to favorable economic politics or external factors.

The gross domestic product in the July-September quarter was estimated to increase by 5.33% from a year earlier, faster than the growth rate of 4.05% in the second quarter.

The recent growth registered in the country’s economy is a positive sign, indicating a continued recovery from the pandemic-induced downturn. Despite a slight decrease in growth compared to the same period last year, the economy remains stable and may continue to grow in the coming months.

In September, the consumer price index increased by 3.66% compared to the same period last year. The average value recorded in the third quarter of 2023 grew by 2.89% compared to the third quarter of 2022.

In the reviewed period, the total import and export turnover of goods reached $497.66 billion, down 11% over the same period last year. Of which export value hit $259.67 billion, down by 8.2%, while import value hit $237.99 billion, down 13.8%.

With regard to trade balance, the country posted a trade surplus of $2.29 billion in September and $21.68 billion during the nine months.

Industrial production in September increased by 5.1% year on year, up 0.1% from the previous month, while the January-September period showed an increase of 0.3% from the previous year.

In addition, the total retail sales and consumer service revenue in the first 9 months of 2023 is estimated to reach VND 4,567.8 trillion, an increase of 9.7% year on year (the same period in 2022 increased 20.9%). 

Source: https://e.nhipcaudautu.vn/economy/vietnams-nine-month-economic-growth-reported-at-424-yoy-3355298/

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International packaging firms eye Vietnamese market

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6 hours ago

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October 4, 2023

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Over 400 exhibitors from 17 countries and territories are joining the 21st Vietnam International Printing and Packaging Industry Exhibition (VietnamPrintPack 2023), which opened in Ho Chi Minh City on Wednesday, in search of investment and cooperation opportunities.

The participating printing and packaging enterprises come from Germany, China, Japan, South Korea, Switzerland, Britain, and the United States.

According to insiders, Vietnam faces a shortage of providers of high-quality printing and packaging services and products.

VietnamPrintPack plays a key role in helping foster the printing and packaging industry in Vietnam. 

It has also paved the way for domestic firms to seek appropriate solutions and technologies, and for foreigners to do business in the Southeast Asian nation.

The exhibition covers an area of over 20,000 square meters and features 910 booths showcasing the latest products and services in the industry.

China’s Masterwork Group, which has joined the annual exhibition for the first time, is using the event to showcase its folding and gluing machines, as well as other products.

The expo is scheduled to wrap up on Saturday.

Vietnam’s printing and packaging industry is growing quickly, creating much potential for foreign investors and producers.

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Source: https://tuoitrenews.vn/news/business/20230928/international-packaging-firms-eye-vietnamese-market/75845.html

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