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The Vietnam Directorate of Vocational Education and the Vietnam -Australia Human Resource Development Partnership (Aus4Skills) signed a cooperation agreement in Ho Chi Minh City on August 14 to implement a project promoting the engagement of businesses in vocational training within the fields of transportation and logistics.

The death toll from an earthquake that struck Lombok Island of Indonesia on August 5 has exceeded 430, while economic losses are estimated at over US$340 million as of August 13.

(VEN) - The Vietnam Trade Promotion Agency will boost its efforts to promote bilateral trade with Argentina by organizing forums, fairs, exhibitions and exchanges between the two countries. Despite the growing trade between the sides, Vietnam has posted a trade deficit with its Latin American ally.

The Asia-Pacific Economic Cooperation (APEC) economies will go ahead with implementing a more streamlined digital process for import and export clearances, making trade easier, cheaper and more feasible for businesses in the Asia-Pacific.

Indonesian President Joko Widodo’s state visit to Vietnam in September is expected to create new momentum for the bilateral strategic partnership, a diplomat said.

(VEN) - Australia and Vietnam should enhance coordination in ratifying and implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Speaker of the Australian House of Representatives Tony Smith said during his official visit to Vietnam on July 23-25. Vietnam and Australia are two of the 11 Pacific Rim states that signed the trade pact earlier this year.

The Philippine economy slowed in the second quarter to 6 percent from the 6.6 percent recorded in the first quarter, the lowest growth since the third quarter of 2015.

The Hanoi Department of Industry and Trade and Semmaris Group of France will cooperate in the study and research on building an international wholesale market of farm produce in Hanoi.

Deputy Prime Minister and Foreign Minister Pham Binh Minh on August 9 praised the role of Japan’s official development assistance (ODA) in Vietnam’s socio-economic development.

(VEN) - Foreign direct investment (FDI) has had widespread effects on the Vietnamese economy. However, the linkage between the FDI and domestic sectors in value chains is yet to yield desired results. Tightening the linkage between domestic and FDI businesses was a major topic of discussions at the mid-term Vietnam Business Forum (VBF) 2018 that took place recently in Hanoi. 

Eastern Australia is experiencing a prolonged drought. Prime Minister Turnbull visited New South Wales on August 5 and said that the drought was the worst for decades and pledged an additional AUD190 million to help the stricken families.

Vietnam and Thailand agreed on some measures to remove difficulties for businesses in carrying out trade activities at the third meeting of their joint trade committee in Hanoi on August 3.

Tesco has sealed a buying alliance with French rival Carrefour to pursue better terms with suppliers as the retailers face tough competition in the grocery sector.

Vietnam pays heeds to fortifying its relations with Rwanda, a potential partner of the country in East Africa, Deputy Prime Minister and Foreign Minister Pham Binh Minh stated on August 7.

Indonesia’s economy expanded 5.27 percent in the second quarter of 2018, the highest growth rate since the fourth quarter of 2013, thanks to growing domestic consumption.

China and the European Union (EU) agreed in Singapore on August 3 to join hands to promote multilateralism and support free trade.

(VEN) - As founding members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnamese and Chilean businesses will have many opportunities to exploit each other’s markets and further boost bilateral trade.
 

(VEN) - The Republic of Korea (RoK) is one of the largest foreign investors in Vietnam, especially in the field of textile and garment. For its part, Vietnam is the top textile and garment exporter to the RoK. There are opportunities for the two countries to increase bilateral investment and trade in textiles and garments.

A Vietnamese startup has won the top prize at a regional contest with a win-win business model for vendors and customers.

President Tran Dai Quang hosted a reception in Hanoi on July 31 for a delegation from the Japan-Vietnam Economic Committee under the Japan Business Federation (Keidanren), the largest economic organization in Japan with 1,340 companies, 109 industrial associations, and 49 regional economic organizations.

Vietnam is willing to cooperate with the Czech Republic to address difficulties in granting long-term visas for Vietnamese nationals for the purposes of employment or business in the European country, said spokesperson of the Foreign Ministry Le Thi Thu Hang.

ASEAN (the Association of Southeast Asian Nations) needs to stay committed to trade liberalization and economic integration, Prime Minister of Singapore Lee Hsien Loong said in Singapore on Thursday, August 2.

Secretary of State Mike Pompeo announced US$113 million in new US investments in the Indo-Pacific region Monday, including US$25 million to promote digital connectivity, US$50 million for energy projects, and US$30 million for infrastructure.

Ho Chi Minh City and Los Angeles have established an economic alliance to promote the cooperation and sharing of information in solar energy development and infrastructure investment.

Japan’s economy revitalization minister Toshimitsu Motegi has welcomed the UK’s expression of interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to Kyodo News. 

A new cooperation agreement was reached between the General Department of Vietnam Customs and the UK Border force on July 26, aiming to improve capacity of Vietnamese customs officers.

(VEN) - The EU is a reliable partner supporting Vietnam’s integration into the global economy, and European companies have contributed to Vietnam’s market-oriented reforms. Vietnam Economic News’ Thu Huong and Lan Huong talked with Denis Brunetti, Co-Chairman of the European Chamber of Commerce (EuroCham) in Vietnam and Ericsson President in Vietnam, Myanmar, Cambodia and Laos. 

The United States expects the European Union to open up “more opportunities” for US farmers and agricultural products as part of a US-EU trade deal, US Treasury Secretary Steven Mnuchin told Fox News on Sunday.

Deputy Prime Minister and Foreign Minister Pham Binh Minh held talks with Argentine Minister of Foreign Affairs and Worship Jorge Faurie in Hanoi on July 30, aiming to seek ways to boost bilateral ties.

As the economy teeters due to depleting foreign exchange reserves, rising twin and current account deficits, Pakistan is planning to seek a US$10-12 billion loan from the International Monetary Fund (IMF), a government advisor said.