Both nations will continue to promote economic co-operation and connectivity, especially cross border trade with a view towards reaching trade turnover of US$20 billion over the following years.

A working delegation from Singapore on July 12 visited agricultural farms in the Mekong Delta province of Long An to learn about food safety management policies, disease control and agricultural export certification process there.

Import and export of goods in the first 6 months of 2024 continue to record positive results, total turnover is estimated at USD 369.6 billion, up 16% over the same period last year.

Vietnam boasts advantages and potential in agricultural production and export, yet domestic firms need to do more to join the global food supply chain more intensively, insiders have said.

The economic potential of the Vietnamese market is undeniable, and the European business community remains confident in its long-term growth, said the European Chamber of Commerce in Vietnam (EuroCham) in its Business Confidence Index (BCI) report for the second quarter of the year.

Export revenue of the leather, footwear and handbag sector is predicted to hit 26-27 billion USD in 2024 on the basis of the positive results seen so far, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).

Hydrogen de France (HDF Energy), a French energy company that has been present in Vietnam since 2022, has inaugurated its first fuel cell factory in Bordeaux, France, which is expected to lay a foundation for the launch of its “green” hydrogen factories in Vietnam and other countries in the future.

The multilateral trade system is facing increasing challenges, from geopoliticisation to securitisation. EU-China trade relations have been in constant change over the past decade. Recent measures from both the EU and China might suggest possible tensions and the development of new trade disputes.

According to data from the General Department of Customs, in the first 5 months of this year, exports of frozen pangasius fillets to the CPTPP bloc reached nearly 89 million USD, up 6% over the same period last year, accounting for 87% of the proportion, and accounting for 15%. of the total export value of Vietnamese frozen pangasius fillets to markets.

The state visits to Laos and Cambodia by President To Lam from July 11-13 are expected to help promote solidarity and open up more trade cooperation opportunities between Vietnam and the two neighbouring countries.