Despite a slowdown in recent years, Vietnam still offers growing opportunities for U.S. exporters and investors. Vietnam’s economic growth rate has been among the highest in the world in the past decade, expanding at an average of seven percent per year during the period 2002-2010
Ministry of Finance issued Circular No. 07/2015/TT-BTC dated 21 January 2015 to abolish Circular No. 06.2015/TT-BTC dated 20 January 2015 by Ministry of Finance on amendments of preferential import tariff on a number of petroleum items in heading 27.10 in preferential import tariff schedule.
Relations and cooperation between Vietnam with the Czech Republic and Slovakia were reviewed at a ceremony held in Ho Chi Minh City on January 31st by the municipal Union of Friendship Organisations (HUFO) and the Vietnam-Czech and Vietnam-Slovakia friendship associations.
Negotiations on the Trans-Pacific Partnership (TPP) are entering their final phase. After the session in mid December 2014 in Washington, the United States, the TPP is expected to be concluded in the first half of 2015.
In recent years, Vietnam's agriculture has gained certain development, making important contributions to the export sector of various agricultural commodities, especially rice and catfish.
The country ran a record trade surplus of US$2.14 billion in 2014, according to the Vietnam Customs. Vietnam’s export-import turnover in 2014 totaled US$298.24 billion, up 12.9 percent from 2013.
Vietnam’s exports were projected at US$150 billion in 2014 and imports valued roughly US$148 billion. The trade surplus totalled about US$2 billion. Stable exportation ensured employment for workers, consumed products made by farmers, reduced inventories and boosted GDP growth.
At a internet-based meeting reviewing results in 2014 and previewing tasks for 2015 with the customs sector, Deputy Prime Minister Vu Van Ninh gave five key tasks to the customs sector in 2015.
The Southern Rubber Industry Joint Stock Company (Casumina) on January 5th, reached an agreement with its US partner to export about 200,000 tyres (worth nearly US$57 million) to the US market, in 2015.
Vietnam gained more than US$1.7 billion from exporting tra fish in 2014 and will remain unchanged in 2015, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).