(VOV) -Vietnamese shrimp businesses enjoyed unprecedented success in 2013, with their export earnings reaching US$3 billion for the first time. Vietnam Association of Seafood Exporters and Producers (VASEP) Chairman Tran Thien Hai said the figure far exceeded the US$2.4 billion target set earlier this year, and contributed 44% of the fisheries sector’s total export value. The high export value was driven by high prices of shrimp on the global market following a 15% fall in volume caused by early mortality syndrome (EMS).

(VOV) -The future is looking bright for export-oriented businesses, according to a forecast by economists at the Hong Kong and Shanghai Banking Corporation (HSBC). In their latest report, the HSBC said the reason is simple: Vietnam’s economy is export-dependent, with overseas shipment of goods comprising 81% of GDP in 2012.

Enterprises should be ready to grasp opportunities and overcome challenges brought by the Trans-Pacific Partnership (TPP) agreement, said Vo Tri Thanh, deputy director of the Central Institute for Economic Management (CIEM). Local enterprises have gained experiences after Vietnam had signed bilateral trade agreement with the U.S. and taken part in the World Trade Organization (WTO). However, preparations for integration on the part of enterprises remain weak, Thanh said.

Vietnam’s export turnover from fibre, textiles and garments surpassed 20 billion USD in 2013, up 18 percent from 2012 and surpassing target by over one billion USD, according to Dau Tu (Investment) newspaper.  Such an outcome put the commodities at the top of Vietnam’s key exports.  The sector also maintained considerable growth in major markets such as the US, EU, Japan, the Republic of Korea and ASEAN. 

Japanese negotiators are hoping to iron out contentious issues with their US counterparts ahead of the next round of the Trans-Pacific Partnership free trade talks. The 12 participating nations are arranging to hold ministerial talks in February, after failing at a meeting in Singapore last month to conclude the TPP deal by year-end. Japan hopes to exempt 5 key agricultural items, such as rice and wheat, from a list of items under discussion for the elimination of tariffs. But many other countries say the talks should deal with all agricultural products.

Vietnamese government sets top priority on Vietnam's garment and textile during the negotiating process of the Trans-Pacific Partnership (TPP), an expert said Friday. Le Tien Truong, vice chairman of the Vietnam Textile and Apparel Association (VITAS) said in an interview with Vietnam's state-run news agency VNA in Vietnam's capital Hanoi on Friday that Vietnam's garment and textile sector possesses international competitiveness and will be a potential beneficiary of the TPP.

The ongoing negotiations for two major free trade agreements, the Trans-Pacific Partnership (TPP) and the Trans-Atlantic Trade and Investment Partnership (TTIP), once materialized, could alter the US textile and apparel trade to a large extent, according to experts. Once signed and implemented, the two agreements would increase the number of countries with which the US has free-trade agreements from the current 20 to 54.

Minister of Economic Affairs Chang Chia-juch yesterday dismissed concerns that China could block Taiwan’s entry to the US-led Trans Pacific Partnership (TPP) because China is not a member of the nascent trading bloc. The assessment was one of reasons the government has decided to “prioritize joining the TPP” over the Regional Comprehensive Economic Partnership (RCEP), a China-led free-trade agreement for the Asia-Pacific region, he said.

PETALING JAYA: The Malaysian Customs will collect anti-dumping duties for five years from tomorrow to address unfair trade practices on the domestic 7 wires pre-stressed concrete strand (7 wires PC strand) industry. In a press statement released by the International Trade and Industry Ministry, it said the Government had finalised the final determination of its anti-dumping investigation based on a petition by Southern PC Steel Sdn Bhd on behalf of the local industry.

Russia has formally issued a complaint to the World Trade Organization (WTO) against European Union (EU) trade measures which take away the ability of Russian firms to benefit from cheap energy. Moscow claims that the EU unfairly imposes high import tariffs on Russian fertilizers, ferro-alloys, aluminum foil, pipelines and other steel products in response to Russia's low domestic energy prices. The import tariffs have cost Russian firms "hundreds of millions of dollars," the Economy Ministry says.