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Exports to the EU soared 18 per cent in the first quarter buoyed by the EVFTA
According to figures from the Ministry of Industry and Trade (MoIT), since the landmark EU-Vietnam Free Trade Agreement (EVFTA) came into force, Vietnamese exports to EU member states managed impressive growth and hit nearly $10 billion in the first quarter of 2021, up 18 per cent on-year.
The best-performing sectors were textile and clothing, electronics, and agro-fishery products, among others. In particular, shrimp exports surpassed $150 million, up 11 per cent over the same period of last year.
Besides, Vietnam s leather and footwear export turnover in the first eight months of 2020 dropped more than 10 per cent due to the COVID-19 pandemic but quickly regained its growth momentum after the EVFTA took effect. In January alone, the turnover expanded 26 per cent compared to the corresponding period in 2020.
The company s board has approved plans to invest in a new 30,000t capacity plant in Ca Mau, as well as for a near-10,000ha, high-tech farming area in Kien Giang
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A severe shortage of shipping containers is leading to rising shipping costs and difficulty moving goods, playing havoc with seafood exporters in Asia.
The shortage has been felt by all major exporters in Vietnam, Thailand, China, and India. Data from Vietnamese seafood exporters show that the shipping cost to the European Union rose between 145 percent and 276 percent in January, compared to December last year.
Shipping rates from Vietnam to major ports this month increased to USD 7,000 (EUR 5,798) per container, from USD 2,850 (EUR 2,360) per container last month. Some carriers charged as much as USD 10,550 (EUR 8,738) for a container this month, up from USD 2,800 (EUR 2,319) per container in December.