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Posts Tagged ‘exports’

Manufacturing, exports set to surpass targets

In Uncategorized on November 10, 2010 at 1:57 pm

October exports rise against previous month

In Uncategorized on November 9, 2010 at 3:24 am

Measures to improve rubber exports

In Uncategorized on November 1, 2010 at 2:12 pm

Exports may grow 20 percent this year, experts say

In Uncategorized on October 13, 2010 at 7:52 am

Based on the export performance in January-July and the number of contracts recently signed with foreign partners, the country may achieve an export growth of up to 18-20 percent this year, twice the target set by the National Assembly, experts said.

The textile and garment sector may achieve an export growth of 18-20 percent, while the footwear industry may see its export turnover increase by 15-16 percent this year, Diep Thanh Kiet, vice chairman of the Association of Garments, Textiles, Embroidery and Knitwear forecast.

Businesses in the woodwork processing sector have accelerated their efforts to fulfill orders from foreign partners, in order to meet the sector’s export target of US$3 billion this year.

Artisans make art handicraft products for export at Quan Quan Co.

In the first seven months of the year, the prices of many export commodities increased, especially those of crude oil, coal, rubber, rice, tea, pepper and cashew.

Export markets also expanded in the period, with exports to countries in Asia, the US and Europe increasing by 48 percent, 23 percent and 15 percent respectively.

The period saw 11 export items achieve an export turnover of over US$1 billion each, including textiles and garment, crude oil, footwear, seafood, rice, coffee, steel and iron, woodworks, machinery and equipment, computers and parts thereof, and precious stones and metals.

In the last quarter of this year, exports are likely to increase sharply and the prices of some key export items may continue rising, according to the Minsitry of Industry and Trade.

Many textile and garment companies are facing a shortage of workers, finding it hard to fulfill orders they have received from foreign importers, Mr. Kiet said.

Lacking workers together with an increase in prices of imported materials have diminished profit in many woodworks exporters, experts said, adding that some businesses have planed to set up bonded warehouses in foreign countries to accelerate exports and cut down expenses.

Meanwhile, exporters of seafood and farm produce are facing a shortage of both workers and materials.

In addition, possible anti-dumping actions by foreign companies is also one of the biggest chellenges to domestic businesses in some industries. Therefore, the Competitiveness Management Department has set up an early alert system that monitors developments in key markets to minimize the risk of anti-dumping actions agaisnt domestic businesses.

To help exporters boost growth, the State should assist them in expanding export outlets and obtaining more capital for business purposes. In addtion, the product price and market forecasts should also been stregnthened to assist exporters in preparing export plans effectively.

Source: SGGP

Rice exports hit 5.4 million tonnes

In Uncategorized on October 13, 2010 at 3:55 am

Rice exports hit 5.4 million tonnes

QĐND – Saturday, October 09, 2010, 20:59 (GMT+7)

Vietnam exported nearly 5.4 million tonnes of rice worth over 2.2 billion USD in the first nine months of the year, representing respective increases of 8.51 percent in volume and 12 percent in value.

According to the Vietnam Food Association (VFA), the average price of Vietnamese rice reached over 422 USD per tonne, up 16.43 USD per tonne compared with the same period of last year.

Between July 15 and September 15, businesses bought over 972,000 tonnes of rice, fulfilling 97.21 percent of the target of having one million tonnes in reserve.

VFA plans to ship 1.2 million tonnes of rice in the fourth quarter of 2010, raising the total export rice volume in the year to 6.6 million tonnes.

Source: VNA

Source: QDND

Russia bans grain exports due to drought

In Uncategorized on August 6, 2010 at 7:21 am

MOSCOW, Aug 6, 2010 (AFP) – Russia, the world’s third wheat exporter, has banned grain exports until the year end after a record drought and fires ravaged millions of hectares (acres) amid a scorching heatwave.

Russian woman Olga Ivanova cleans up debris from the charred remains of burnt out homes in the village of Peredeltsy on August 5, 2010. AFP

Wheat futures shot up to new two-year highs on commodities markets after the shock announcement from Prime Minister Vladimir Putin on Thursday raised concerns about global grain supplies.

The ban comes as Russia struggles to contain the worst wildfires in its modern history that have killed 50 people, with the blazes spreading to the country’s south and raising concerns about radiation levels.

“In connection with the unusually high temperatures and the drought, I consider it right to impose a temporary ban on the export from Russia of grain and other products produced from grain,” Putin told a government meeting.

Russia earlier this week slashed its 2010 grain harvest forecast to 70-75 million tonnes, compared with a harvest of 97 million tonnes in 2009, owing to the worst drought for decades.

Last year, Russia exported 21.4 million tonnes of grain and observers had already warned that could be sharply lower this year owing to the drought.

The prime minister’s spokesman Dmitry Peskov said the export ban would come into force August 15 and remain in place until December 31.

“We must not allow an increase in domestic prices and must preserve the headcount of our cattle,” Putin said in comments broadcast on state television.

Putin signed a decree imposing the ban which also stated that Russia would ask fellow members of a regional customs union — Belarus and Kazhakhstan — to make a similar move. Kazakhstan is also a major world grain exporter.

“There can only be one comment — shock,” said Vladimir Petrichenko, director of the Prozerno agricultural analytical firm.

“We will only be able to return to the global markets with a tarnished reputation, with losses,” he told Interfax.

Russia’s policy after December 31 would be determined by the results of the harvest, Putin said. Russia has seen 20 percent of its arable land (10 million hectares, 24.7 million acres) destroyed in the heatwave.

The severity of the drought has seen states of emergency declared in 27 regions.

Emergencies Minister Sergei Shoigu said earlier that the overall number of fires across Russia had fallen “but not so much that we can rejoice.”

Shoigu said the emergency services were working flat out to prevent the fires spreading to a region in western Russia where the soils are still contaminated by the Chernobyl nuclear catastrophe of 1986 in neighbouring Ukraine.

Wildfires that have been raging around Moscow for a week also forced the Russian defence ministry to order the evacuation of munitions from a military depot near the capital, the Ria Novosti news agency reported.

“Because of the danger posed by fires in the region … the weapons, artillery and missiles at a munitions depot,” at Alabinsk, about 70 kilometres (43 miles) southwest of Moscow, have been “transferred to a secure site,” a defence ministry spokesman said.

Putin also announced that agriculture producers who had suffered as a result of the drought would receive financial aid totalling 35 billion rubles (1.17 billion dollars).

Concerns about Russia — coupled with a drought that has also hit Ukraine and Kazakhstan as well as a low harvest in Canada — had already led to a spike in global wheat prices to two-year highs.

On Euronext, the November milling wheat future jumped after Putin’s announcement to 226 euros per metric tonne, up 8.25 percent on the day.

In Chicago, September wheat shot up to 7.83 dollars a bushel from 7.26 dollars while the December contract jumped to 8.09 dollars from 7.55 dollars.

Russia’s average annual domestic consumption of grain is estimated at around 77 million tonnes and Putin said the country currently has reserves of 9.5 million tonnes.

Source: SGGP

To promote exports, control imports

In Uncategorized on July 15, 2010 at 4:51 pm

To promote exports, control imports

QĐND – Thursday, July 15, 2010, 20:43 (GMT+7)

On July 14, the Ministry of Industry and Trade (MoIT) sent a directive on measures to promote exports, control imports and limit this year’s import surplus.

These measures are aimed at stabilizing the marco economy, curbing inflation and reaching economic growth rate of 6.5 percent with export turnover of just over 6 percent.

MoIT Minister Vu Huy Hoang asked the Import and Export Department to work with the Ministry of Agriculture and Rural Development and other associations to take measures to promote exports, expand markets, and tap the traditional and potential markets to improve the export turnover of agricultural and aquatic products.

Besides, the department will cooperate with the Interior Ministry to formulate a project on establishing inter-committee on import and export under the direction of Deputy Prime Minister Hoang Trung Hai.

Source: VOV

Source: QDND

Garment exports to US back on track

In Uncategorized on July 15, 2010 at 8:59 am

Garment exports to US back on track

QĐND – Wednesday, July 14, 2010, 20:56 (GMT+7)

Vietnam earned 2.7 billion USD from exporting garments to the US in the first half of this year, an annual increase of 15 percent, after dropping last year.

According to the Vietnam Textiles and Apparel Association (VITAS), garments are Vietnam’s major export staple and account for the largest proportion of the country’s total export value to the US , with 43 percent in the 2005-2009 period.

So far this year, garment exports to the US have made up 57 percent of the sector’s total export value.

Clothing made in Vietnam is becoming more popular with US consumers. The US International Trade Commission (USITC) has also reported that Vietnam is one of the Asian countries able to compete with China in the area.

The US Association of Importers of Textiles and Apparel chooses Vietnam second after China when seeking garments from Asia.

VITAS has forecasted that the US will continue to be Vietnam’s leading export market for garments, with an estimated export value of 5.9 billion USD, accounting for 56 percent of the sector’s total export value.

However being second amongst the garment exporters to the US, the value of Vietnam’s textiles exports accounts for only six percent out of the total 100 billion USD that the US market imports every year, according to VITAS.

To improve the situation, VITAS has recommended that businesses pay more attention to increasing the value of their products, restrict outsourcing, strengthen ties with US importers and advertise their products more widely.

Vietnam will now attend the world’s largest garments and textiles fair, called Magic, which is held in Las Vegas every February and August.

In mid-August, a delegation of 20 Vietnamese garments enterprises is scheduled to attend the fair and make a fact-finding tour of the US market.

Source: VNA

Source: QDND

Forestry-farm-seafood exports up

In Uncategorized on June 26, 2010 at 4:45 pm

Forestry-farm-seafood exports up

QĐND – Saturday, June 26, 2010, 21:15 (GMT+7)

Export turnovers of farm produce, forest products and seafood increased 13.5 percent year on year to 8.6 billion USD in the first half of 2010, reported the Ministry of Agriculture and Rural Development.

Though recording the lowest growth rate at just 5.8 percent, farm produce remained a leading hard currency earner with an export turnover of 4.6 billion USD in the period under review.

Rice earned the nation 1.87 billion USD from the export of 3.6 million tonnes, showing an increase of seven percent in export value although the export volume decreased 2.3 percent over the same period last year.

The Philippines is the largest importer of Vietnam ’s rice, spending 759 million USD to buy 50.6 percent of the total volume.

Of the top ten markets of Vietnam rice, Singapore , Taiwan and Hong Kong made sharp rises in import volume and value.

Economists predicted a bright prospect for Vietnamese rice ahead based on a rise in both demand and price in the world market.

The exportation of rubber, tea and cashew nut showed the same promising signs. The rubber sector, for example, exported 207,000 tonnes of latex for 565 million USD. The figures represented a decrease of 18 percent in the export volume but a surge of over 57 percent in value.

Tea exports reached 52,000 tonnes worth 70 million USD, showing a decrease of 1.7 percent in quantity but an increase of 6.2 percent in revenues.

Cashew-nut exports recorded an increase of over 20 percent in turnovers although the shipments abroad stayed unchanged.

Pepper export turnovers grew almost 48 percent to 234 million USD although the export volume climbed up just nine percent. The US kept its ranking as the biggest customer of Vietnam’s pepper.

Coffee was the only agricultural export that suffered a drop in both turnovers and shipments. Its export turnover fell by over 16 percent to 925 million USD while the export volume dropped over 10 percent to 664,000 tonnes.

Economists blamed the failure to the decrease of an estimated 98 USD/tonne in the world market in the first five months of the year and an over supply.

In regard to forest product exportation, which earned a total 1.59 billion USD or 29 percent increase year on year, wood and wooden furniture made a lead in growth with turnovers up almost 31 percent. The US remained the largest market, garnering almost 40 percent of Vietnam ’s exports. It was followed by Japan with 12.5 percent.

Seafood exports enjoyed a growth of over 13 percent, earning 2 billion USD. The European Union was the largest importer of Vietnam ’s seafood, generating 25.5 percent of the country’s export value at 420 million USD. It was followed by Japan and the US.

Source: VNA

Source: QDND

EU, VN discuss exports and trade barriers

In Uncategorized on June 23, 2010 at 4:36 pm

EU, VN discuss exports and trade barriers

QĐND – Wednesday, June 23, 2010, 22:1 (GMT+7)

A conference titled Trade Barriers with Business Association and Vietnamese Enterprises was held by the European Chamber of Commerce (EuroCham) in Hanoi on June 23.

At the conference, EuroCham discussed issues related to trade barriers in the EU market and challenges and opportunities for Vietnamese businesses to put into action the Free Trade Agreements (FTA).

Former Vietnamese Deputy Ministry of Trade Phan The Rue stressed that the country’s export businesses should take the chances to export their products to larger markets.

However, they also need to focus on studying the multi-lateral and bilateral free trade agreements and their target markets’ legal systems. Then they can ask for legal consultancy to make full use of the opportunities and minimise any potential risks, he said.

The First Secrectary of the EU Delegation in Vietnam, Hans Farhammer, proposed that to promote its exports, Vietnam should overhaul and enhance its Technical Barriers to Trade (TBT) Office.

The office in Vietnam should concentrate on major exporters to help them to settle disputes with management agencies and provide them with a consultancy service.

Source: VOV

Source: QDND