The shrimp sector should be developed in value chain so as to gain competitive edge amidst prolonged challenges like global economic recession, tensions in the Red Sea, and anti-dumping measures from the US, according to insiders.

Vietnam has been one of the most promising markets for Moscow firms thanks to the country’s rapid economic growth and high population density, said a Moscow official.

Vietnam has taken measures to have the European Commission’s “yellow card” removed for Vietnamese seafood products regarding illegal, unreported and unregulated (IUU) fishing, Veeramalla Anjaiah, a senior research fellow at the Centre for Southeast Asian Studies (CSEAS) and senior journalist based in Jakarta, has said.

Vietnamese Prime Minister Pham Minh Chinh and Chinese Vice Premier Zhang Guoqing attended and delivered speeches at a conference on the two countries’ cooperation in transport infrastructure and the role of their businesses, held in Beijing on June 27.

Việt Nam exported 1.44 million tonnes of rice to the Philippines as of May 23, accounting for 72.9 percent of the total imports of the grain into the country.

The conference was organized by the Italian National Credit Fund (CDP) in collaboration with the Italian Chamber of Commerce in Vietnam (ICHAM) under the sponsorship of the Italian Embassy in Vietnam. The event gathered more than 100 Vietnamese and Italian businesses to attend.

CPTPP is a free trade agreement in force between 11 countries including Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Việt Nam. In 2023, CPTPP parties signed an accession protocol with the UK, welcoming them as the 12th member.

The agreement underscores a strengthening of diplomatic, cooperation and trade relations between Ireland and Việt Nam.

Changes in US attitudes towards trade, including increasing tariffs and undermining the World Trade Organization (WTO), have threatened global trade. But major trading nations are striving to strengthen compliance and extend international trade law even without US collaboration. While the downgrading of the WTO makes resolving some trade issues difficult, the global economy can continue to grow with an expanded CPTPP and commitment from RCEP members and the European Union.

Vietnam has made suitable efforts to clamp down on illegal, unreported and unregulated (IUU) fishing while striving to negotiate to have the European Commission (EC)’s “yellow card” removed, a counsel at the Advisory Centre on WTO Law told the Vietnam News Agency.