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Vietnam wishes to strengthen ties with International Trade Centre: ambassador

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A Vietnamese diplomat has highlighted the country’s wish to enhance cooperation with the Geneva-based International Trade Centre (ITC) while addressing the recent 57th session of the ITC’s Joint Advisory Group.

Vietnam wishes to strengthen ties with International Trade Centre: ambassador hinh anh 1Vietnamese Ambassador Le Thi Tuyet Mai speaks at the 57th session of the International Trade Centre’s Joint Advisory Group on July 20. (Photo: VNA)

Geneva – A Vietnamese diplomat has
highlighted the country’s wish to enhance cooperation with the Geneva-based International
Trade Centre (ITC) while addressing the recent 57th session of the
ITC’s Joint Advisory Group.

In her remarks, Ambassador Le Thi Tuyet Mai, Permanent
Representative of Vietnam to the United Nations, the World Trade
Organisation (WTO) and other international organisations in Geneva, highly
valued the ITC’s assistance for micro, small and medium-sized enterprises (MSMEs)
over the past years, especially for their digital transformation, green
transition and access to foreign markets, along with its trade facilitation.

Vietnam hopes to strengthen ties with the ITC in the time
ahead on the basis of its trade and development achievements obtained during
the transformation from an underdeveloped country into a lower-middle-income
one, she went on.

The country is working hard to implement the climate change
response strategy and shift to a circular economy, she said, noting that green
growth is not only an inevitable choice but also an opportunity for Vietnam to
keep up with the global development trend and reach the target of net zero
emissions by 2050.

Therefore, Vietnam and some other countries’ participation in
the new ITC project of “Climate competitiveness: Building opportunities in the green economy for emerging and developing countries”,
funded by the European Union for 2023 – 2026, will create favourable conditions
for them to capitalise on assistance during the adjustment of policies and
trade practices in adaptation to climate change, and discuss trade and
environmental issues at WTO to boost trade and sustainable development.


As an active ITC member since 2007,
Vietnam sincerely appreciates contributions by the ITC and other sponsors to the
technical support and capacity building projects for its MSMEs, Mai noted, applauding
the development of the Vietnam – ITC partnership as seen in some pilot projects
of the centre.

The hybrid 57th session of the ITC’s Joint
Advisory Group reviewed the centre’s performance in 2022 and gave
recommendations for its activities in the time ahead.

ITC Executive Director Pamela Coke-Hamilton said the centre
disbursed more than 150 million USD for projects in 130 countries last year,
the highest-ever sum. ITC-funded projects helped over 27,000 small businesses,
including 10,000 women-led ones, improve their competitiveness.

Vietnam wishes to strengthen ties with International Trade Centre: ambassador hinh anh 2Ambassador Le Thi Tuyet Mai (third from right) and ITC Executive Director Pamela Coke-Hamilton at a meeting on July 14 (Photo: VNA)

At a meeting with Ambassador Mai prior to the session, Coke-Hamilton
described Vietnam as an excellent partner of the ITC during the implementation
of this centre’s projects in Southeast Asia.

The country is accessing some ITC-financed programmes and
projects to improve export competitiveness and trade promotion capacity of
MSMEs. In Vietnam, the centre is running nine projects, the biggest among ASEAN
members./.

Source: https://en.vietnamplus.vn/vietnam-wishes-to-strengthen-ties-with-international-trade-centre-ambassador/265458.vnp

Business

Zhejiang Trade Exhibition opens in Hanoi

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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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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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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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