Two-way trade between Viet Nam and Australia topped US$15.7 billion in 2022, up 27 per cent year-on-year, statistics from the Viet Nam Trade Office in Australia revealed.

The Biden administration on Tuesday hit Macao with sweeping new export controls it previously imposed on shipments of advanced chips and chipmaking equipment to Beijing, flagging the risk that the technology could be diverted from the region to the rest of China.

The country's trade surpassed the milestone of $700 billion in value to hit $73.5 billion in 2022, a rise of 9.5 per cent against the same period of the previous year, according to the updates of the General Statistics Office.

Enterprises take the initiative in sourcing raw materials, taking advantage of opportunities in market demand, bringing the main export product of pangasius to USD 2.4 billion, surpassing the record of three years ago.

Building on the solid results in 2022, Vietnam’s main exports will work to take full advantage of opportunities to fulfil the targets set for this year.

The Foreign Investment Agency (FIA), under the Ministry of Planning and Investment, has said that overseas funding into Vietnam is expected to soar this year.

China has amended the Foreign Trade Law to simplify registration procedures for foreign trade operators. From now on, companies and individuals no longer need to undergo registration and filing with local commerce authorities and will automatically obtain the right to import and export products to and from China.

Vietnam exported nearly 7.2 million tonnes of rice worth 3.49 billion USD last year, including many shipments navigating demanding markets such as Japan and the European Union (EU).

Agriculture is an important pillar in building Viet Nam's independent and self-reliant economy associated with extensive and effective international integration, according to Prime Minister Pham Minh Chinh.

2023 is not going to be a great year for growth – the region's main external trade partners are all already in, or going into recession, and the region's largest economy, China, is struggling right now.