VNEconomyNews.com - Raising the competitive edge of Vietnamese exports to the US market was high on the agenda at a seminar held in Ho Chi Minh City yesterday. The seminar was conducted by the Ministry of Trade and Industry in conjunction with the Viet Nam Chamber of Commerce and Industry. Economists attending the seminar said that some commodity groups capable of competing in the US market included apparel, furniture, bags, wallets and umbrellas, fishery products, footwear alongside added-value industrial items such as machinery equipment and spare parts.

VNEconomyNews.com - Vietnam’s exports to Mexico have increased considerably, even though the two countries have not signed a bilateral trade agreement. Mexico has offered favourable conditions for Vietnamese goods to penetrate its market in recent years, and statistics show that revenues from exports to the North American country reached US$488.82 million in 2010, 36.13 percent over 2009. Vietnam earned US$310.26 million from exports to Mexico in the first seven months of 2011, a 23.59 percent increase over the same period last year.

CANBERRA, Aug. 21 (Xinhua) -- Australian Trade Minister Craig Emerson on Sunday said allowing New Zealand apples to Australian market is the right move and Australia will be "dead in the water" if it reverses trade liberalization and embraces protectionism. Under fire over a decision to allow New Zealand apples to enter Australian market for the first time in 90 years, Emerson warned the nation must continue to embrace free trade. Dr Emerson said 60 percent of Australian agriculture produce is exported and there was a record trade surplus last year.

HOHHOT, Aug. 20 (Xinhua) -- The booming China-Mongolia border trade has given Erenhot, a Gobi town in north China's Inner Mongolia Autonomous Region, a more important regional status, as it's poised to host the China-Mongolia-Russia Economic and Trade Cooperation Fair at the end of the month. The organizing committee said on Friday that over 200 firms from the three countries have registered to take part in the fair slated from Aug. 26 to 30, which will feature exhibits ranging from home appliances, construction and decoration materials to heavy machinery.

HA NOI — Vietnamese producers are set to import more cotton from Africa based on its good quality and reasonable pricing, according to an official from the Viet Nam Textile and Apparel Association (VITAS). At a seminar, co-organised by the Ministry of Industry and Trade (MoIT) and the International Trade Centre, VITAS and the Viet Nam Cotton and Spinning Association in Ha Noi yesterday, Vu Duc Giang, chairman of VITAS, said that Viet Nam had imported 357,300 tonnes of cotton from the US, India, Africa and several other countries during the course of last year.

SEOUL, Aug. 19 (Yonhap) — South Korea will expand its financial support for the agricultural and fishing sectors to minimize possible losses from a massive influx of outside products under free trade deals signed with many other countries, the finance ministry said Friday. According to the ministry, the government will set aside a total of 22.1 trillion won (US$20.5 billion) to help local farmers and fishing households who could get hurt by cheaper foreign products. The amount is larger than 21.1 trillion won set aside in a similar support plan unveiled in 2007.

Jamaica and Costa Rica are attempting to press forward with the formal implementation of a seven-year-old-free trade agreement (FTA), and have held talks designed to move the process along.

HA NOI — Two-way trade between Viet Nam and the US topped over US$10 billion in the first half of this year, surging 21 per cent against the same period last year, according the US International Trade Commission. During the period, Viet Nam exported goods worth $7.94 billion to the US, a yearly rise of 21.4 per cent, while imports hit $2.07 billion, up 25 per cent year on year.

Turkey’s Economy Minister Zafer Çaglayan has said that it is hoped that substantial progress can be made in negotiations on the proposed free trade agreement (FTA) between Turkey and South Korea by the end of this year.

The South African Revenue Service (SARS) has issued a draft guide on the new disclosure requirements proposed under anti-avoidance amendments to rules within the country’s tax code that were originally introduced to facilitate intra-group transactions.