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Category: Trade News Vietnam

Vietnam is a huge trading nation with exports in excess of US$355 billion in 2023. With this in mind, trade news has become an important part of local news media content. This section monitors Vietnam trade news including imports, exports, key policies, and regulatory changes.

Vietnam Trade: Everything You Need to Know 2024

Vietnam has established itself as a key player in global trade, thanks to its strategic location, favourable trade agreements, and robust manufacturing sector. In 2024, Vietnam continues to leverage its open economy, with exports playing a crucial role in driving growth. The country is well-integrated into the global supply chain, exporting a diverse range of goods including electronics, textiles, machinery, and agricultural products. 

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Should Vietnam Be Worried About Indonesia Joining the CPTPP?

Last week, Indonesia officially applied to join the Comprehensive and Progressive Trans-Pacific Partnership free trade agreement. Whereas the benefits to Indonesia are clear, for Vietnam, a founding member of the agreement, it could be problematic. This article looks at the risks and opportunities for Vietnam if Indonesia’s accession is approved…

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Indonesia officially applies to join Vietnam, others in CPTPP

Of note, the Indonesian and Vietnamese economies are relatively similar. They are both export oriented and have developed quickly by providing abundant low-cost abundant labour to global manufacturing. As such, the two countries often compete for foreign direct investment projects. In this context, Indonesia’s ascension to the agreement could chip away at Vietnam’s edge over its neighbour to the south.

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List of Vietnam’s Free Trade Agreements 2024

Vietnam has signed multiple Free Trade Agreements with various countries and regions. These agreements aim to reduce or eliminate tariffs, enhance market access, and promote economic cooperation across diverse sectors such as textiles, machinery, and agriculture. This is in line with a broader strategy of export-led economic development.

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Vietnam coffee exports up 5.5 percent August over July

Vietnam’s coffee exports climbed by 5.5 percent in August over July from US$381.2 million to US$402.2 million. Vietnam’s coffee exports for the year now stand at US$4 billion which is an increase 35.6 percent over the same period last year. That said, Vietnam has seen a decline in the volume of coffee exports of 12.1 percent year-on-year.

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Vietnam imports reach US$33.7 billion in August, down .4 percent vs July

Of note, Vietnam’s role in manufacturing supply chains is mostly in the final stages of assembly and packaging which is often performed using imported parts and components. The slight fall in imports month-on-month could therefore be indicative of a future decline in exports. That said, it is only data from one month–July’s imports were up 11.2 percent over June and one data point does not a pattern make. That said, it may still be worth keeping an eye on…

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Cheap meat imports continue to create discontent in Vietnam

Cheap imported meats have become an increasing concern among local meat producers with similar articles appearing in state media every other week. This narrative is largely growing in prominence on the back of a number of free trade agreements Vietnam has signed on to that are bringing down import tariffs on meat products. This has further been exacerbated by challenges in the local meat industry, particularly repeated outbreaks of African Swine Fever…

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Japan’s Toyo Solar limits Vietnam solar panel production on trade investigation

Japan’s Toyo Solar is reducing its solar panel output at its Vietnam-base affiliate Vietnam Sunergy from 2.5 gigawatts this year to just 1.9 in response to a US trade investigation into solar panels from Vietnam, the company has said in a press release. The company goes on to say that it will wait for preliminary investigation results before making further moves…

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US announces September Vietnam trade mission to boost agricultural exports

Of note, the US was slated to benefit from a range of tariff reductions on agricultural goods in Vietnam as part of the Trans-Pacific Partnership agreement. It was, however, withdrawn by the Trump administration. This has put US agricultural producers on the back foot compared to other major agricultural producers like Australia and Canada in the Vietnam market…

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Slew of new US trade remedies cases announced against Vietnam exports

This comes amid an increasing number of Chinese firms relocating at least part of their production south of the border in order to circumvent antidumping and countervailing duties in other parts of the world. That’s not to say, Vietnam is not-subsidising its own industries, with the US DOC finding earlier this year that government intervention in the market is beyond what is acceptable for it to be considered a market economy.

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Taiwan launches antidumping investigation into Vietnam cement

In the first seven months of 2024, Vietnam exported 18,227,814 tons of cement and clinker worth US$669.2 million. This was a decline of 13.3 percent over the same period in 2023. To Taiwan specifically, it exported 891,050 tons worth US$32,125,934, according to data from Vietnam’s General Department of Customs.

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Commerce’s Findings from Vietnam’s Non-Market Economy Review: Unpacked

Last week, the United States Department of Commerce–the DOC–rejected Vietnam’s application to have its status as a non-market economy overturned. This came after a months-long review including thousands of pages of evidence and arguments, from both Vietnam and the United States, culminating in not just the aforementioned adverse findings but also a 284-page memorandum explaining the decision. This article breaks down the key points in said document.

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