With many synchronous solutions, the decline in exports has increasingly narrowed in the second half of 2023, and the trade balance continues to maintain a surplus. These are also optimistic signs for 2024. Although the forecast is difficult, the baptism by fire in past year is expected to create a foundation for exports to make a breakthrough.

Vietnam has exported bird’s nests to China by air for the first time, which once again reflects opportunities for the bird’s nest industry to develop sustainably, especially after a protocol on bird’s nest export to China was signed.

With the Philippines expected to import between 3.5 million and four million tonnes of rice this year, there are bright prospects ahead for Vietnamese rice exports to the market, according to Phung Van Thanh, Vietnamese Trade Counselor in the Philippines.

Ongoing tension in the Red Sea has hiked freight rates and increased the possibility of delays, warned the Ministry of Industry and Trade.
 

On Christmas Day China introduced tariff waivers on most goods coming from Angola, the Democratic Republic of Congo (DRC), The Gambia, Mali, Madagascar and Mauritania, which will no longer have tariffs slapped on them when entering the Chinese market.

European businesses operating in Vietnam are displaying resilience, evident in the Business Confidence Index (BCI) released by the European Chamber of Commerce in Vietnam (EuroCham) on Monday.

On Sept 5, 2023, the Office of the United States Trade Representative posted a notice in the Federal Register stating that it was extending previously reinstated exclusions to the Section 301 tariffs till Dec 31.

Việt Nam’s cashew industry eyes export growth despite global headwinds, according to insiders.