Vietnamese rice exports have been increasing significantly in the first months of 2022, signalling a favourable year for the country’s produce.

Two-way trade between Vietnam and the United Kingdom rose 17% year on year last year to US$6.6 billion, of which Vietnam produced US$4,8 billion in trade surplus.

China has been actively preparing to convert its import of agricultural products from unofficial channels to official ones. This market is also standardising import criteria through new regulations and conditions. However, many Vietnamese businesses are still not ready for the race to dominate this large market.

The European Union will increase tariffs on stainless steel products from India and Indonesia after determining they benefited from unfair subsidies, including some from China under its Belt and Road investment programme.

In a notification, the ministry's investigation arm Directorate General of Trade Remedies (DGTR) has said there is continued dumping of the foil from China, and the imports are likely to enter the Indian market at dumped prices in the event of expiry of the duty.

Market fluctuations and problems in goods import and export are expected to significantly affect Vietnam, say experts. Some areas that would see direct impact include prices of commodities, circulation of goods and commercial contract payments. Domestic firms with joint projects with partners in Russia, Ukraine and Belarus will also be affected.

Competent authorities of Vietnam have sent a diplomatic note to relevant ministries and agencies of Italy, requesting a quick investigation into a suspected scam involving 100 containers of Vietnamese cashew nuts exported to Italy.

The Vietnamese Government aims to turn macadamia into a strong export commodity.