The Vietnam - Israel Free Trade Agreement (VIFTA), which was signed last month, has opened up new opportunities for Vietnamese goods to enter an important market in the Middle East.

The disputes centred around US tariffs on steel and aluminum products and India's imposition of additional tariffs on select items originating from the United States.

The Finance Ministry has enforced anti-dumping duties on particular optical fiber imports from China, South Korea, and Indonesia to mitigate the adverse effects on the domestic industry.

There remains plenty of opportunities for Vietnamese rice to expand its market share in the UK amid India, the largest rice exporter to this market, suspending rice exports to the market, said Nguyen Canh Cuong, Vietnamese Trade Counselor in the UK.

The ban on rice exports by India and some other countries is a golden opportunity for Vietnamese rice, as the demand and export prices have advanced day by day. Meanwhile, the domestic rice source can fully meet both domestic consumption and export demand.

Exports estimated at some $9 billion for 2023, representing a decline of 15-16 per cent against 2022

Vietnam’s seafood exports value to the CPTPP reached USD 1,12 billion in the first six months of the year, down 22% year-on-year. However, this is a potential market versus the US and China.

The anti-dumping duty will be valid for five years; expected to provide some relief to domestic industry