Expectation is mounting that the U.K.'s bid to join a major Pacific trade bloc will soon be green-lit following Prime Minister Rishi Sunak's breakthrough post-Brexit pact with the EU.

As China continues to experience remarkable economic growth, its impact on international trade has become increasingly significant.

In its national socio-economic development, Vietnam has laid a priority on boosting economic cooperation via the diplomatic channel, in which expansion of exports and attraction of more investment is a must. To this end, the government has enacted a hallmark first-ever 5-year action programme guiding the deployment of economic diplomacy.

Amid Vietnamese tuna exports to major markets enduring a decline in January, exports of the product to the Republic of Korea have witnessed an impressive growth of 457% on-year, according to details given by the Vietnam Association of Seafood Exporters and Producers (VASEP).

Salangane nest exporters in Vietnam can earn $200-300 million a year. China has signed a protocol on full-tax export of the expensive salangane nests to its market.

The export volume of the 2022-23 crop is also forecast to decrease sharply compared to the previous crop due to little inventory from the 2021-2022 crop.

Vietnam’s shrimp exports face challenges with prices decreasing and competition from Ecuador and India intensifying, according to the Vietnam Association of Seafood Exporters.

It is critical to promote digitalisation in the traceability of farm produce as Việt Nam aims to build a transparent, multi-value integrated agriculture sector.

Vietnamese producers need to pay special heed to ensuring food safety and transparency of production information; building brands and well managing growing area codes for products exported to China.

With Vietnamese banana exports to Japan making up less than 1% of the Far East nation’s banana imports, there remains ample room for the export of bananas as well as other fruits to this market in the future, according to industry insiders.