Vietnam is expected to make breakthroughs in exporting aquatic products in the coming time thanks to its good performance of biological safety, and benefits brought by free trade agreements (FTAs), according to the Ministry of Agriculture and Rural Development.

The Korea International Trade Association said in its report on May 14 that an increasing number of South Korean companies are relocating to Vietnam for the purpose of supply chain diversification amid the ongoing U.S.-China disputes and the COVID-19 pandemic and yet trade and market risks are increasing in the production base as an alternative to China.

Regarding exported rice and Vietnamese rice brands, on the afternoon of May 4, the Vietnam Trade Office in the UK informed that in 2020, the volume of Vietnamese rice imported into the UK increased from 1,296 tons, worth nearly US$1.3 million in 2019, to 3,396 tons, worth over $2.6 million.

Many investors said that Vietnam has been still strengthening its position as one of the more and more attractive investment destinations, being the first choice for foreign enterprises, especially those who are seeking to diversify their investment portfolios outside of China.

The production and consumption of agricultural products will encounter many difficulties amid the complicated developments of the COVID-19 pandemic, particularly in terms of fruit in harvest season such as lychee and longan.

The Vietnamese Embassy in Venezuela and the Venezuela Foreign Trade Bank (BANCOEX) co-hosted a teleconference on May 11 as part of efforts to seek ways in which to accelerate trade promotion between the two countries.

German business leaders in Vietnam maintain positive view with the economic expectation while looking forward to a recovered year of 2021 and 2022.

Statistics released by the Ministry of Industry and Trade (MoIT) indicate that total import and export turnover over the four-month period surged by 29.5% to US$206.51 billion compared to the same period from last year, with the country posting a trade surplus of US$1.29 billion.

Free trade agreements are opening the doors for Vietnamese fruit and vegetable firms to increase export revenue this year, according to the Vietnam Fruit & Vegetables Association (VinaFruit).

China urges the United States to stop suppressing and smearing Chinese enterprises and treat Chinese companies in a fair, just, and non-discriminatory manner, Foreign Ministry Spokesperson Hua Chunying said on Thursday.