Additionally, Vietnamese efforts to maintain socio-political stability and set up and professionalize investment promotion activities also play a crucial role in increasing the FDI flow.

The reductions were in accordance with the then general Soviet practice of avoiding oil price subsidies in order to keep Comecon oil prices close to those of the world market. The balance of trade has in the past been positive but recent statistics (2004) showed that it was negative. JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM is located in Cao Bang, Ha Noi, Vietnam and is part of the Banks & Credit Unions Industry.

The 1978 Treaty of Friendship and Cooperation between the Soviet Union and Vietnam, the most important of numerous such agreements with Comecon members, established the basis for the two countries' "long-term coordination of their national economic plans" and for long-term Soviet development assistance in technology and other crucial sectors of the Vietnamese economy. To achieve further progress, the country must continue to increase the value of exports and achieve product diversification. Vietnam also enjoys a cooperation agreement with the EU. Other exports include rice The sector is still dominated by large public groups. Any delays or bottlenecks in the plans or aid commitments of Comecon countries, however, could delay or disrupt Vietnam's planning effort. For imports, the country's main partners are China, Singapore, Japan, South Korea and Thailand. and tractors, tires, foodstuffs, raw cotton, textiles, sugar, and grain. To go further, check out our service Import Export Flows. Even with the first quarter quickly drawing to a close, the data point blank is way better than what the doom and gloom crowd would have had you believe – the Vietnamese economy actually performed to a degree that other national economies nowadays would give an arm and a leg to have. The declining agricultural sector is dominated by cultivation and plantations (rice, coffee, cashew nuts, corn, pepper, sweet potatoes, peanuts, cotton, rubber and tea), and aquaculture. The reforms have succeeded in the improvement of the standard of living of the inhabitants. Overview Vietnam eliminated many non-tariff barriers under the 2001 United States-Vietnam Bilateral Trade Agreement (BTA) and through its accession to the WTO, including quantitative restrictions on imports, quotas, bans, permit requirements, prior authorization requirements, licensing requirements, and other restrictions having the same effect, which appeared to be inconsistent with its … Vietnam has demonstrated its strong commitment to trade liberalization in these recent years. leaders, and the freewheeling enterprises were integrated into a single Increase your business in Vietnam with Market Reports, Business Tips, Agents & Distributors and Import Export Services. For import, we see neither much improvement nor deterioration for import of raw materials.