From an underdeveloped economy, Việt Nam has grown into one of the world’s 32 largest economies with its economic scale expanding nearly 100 folds since 1986 and per-capita income from below $100 to nearly $5,000.
With exports projected to reach $70 billion by the end of 2025, the year is set to be a breakthrough for the sector, highlighting its impressive progress driven by improved quality, standardisation and sci-tech application.
Việt Nam and the European Free Trade Association have launched the 18th round of free trade talks in Đà Nẵng, aiming to reach a basic agreement, the Ministry of Industry and Trade said.
ASEAN’s rapidly growing consumer market continues to present major opportunities for Vietnamese enterprises, though firms are increasingly required to meet higher technical and origin standards.
Việt Nam’s slew of free trade agreements offers its export companies a competitive advantage to but their utilisation rates remain modest, a seminar heard in HCM City on September 25.
The sector ran a trade surplus of $11.5 billion, up by 15.9 per cent from the same period last year, driven by robust performance of major farm producers and stronger demand from key markets.
The UK, with an annual agri-food import value of US$67 billion, is seen as a high-potential market. In 2024, Việt Nam’s agri-export turnover to the UK reached nearly $883 million, a 15.4 per cent year-on-year increase.
Minister of Agriculture and Environment Đỗ Đức Duy urged enterprises to invest in processing, logistics and quality control while strengthening value chain ties and staying alert to US trade rules.
The Agriculture and Environment Newspaper and the German Agricultural Society (DLG) will focus on key agricultural industries, facilitating knowledge and technology transfer between delegations from the two countries.
The latest round of talks will take place in Kuala Lumpur from February 17 to 20, with discussions covering 11 key sectors, including goods, services, investment and economic cooperation.