return icon

EU’s border closure yet to affect goods circulation: official

The European Union (EU)’s border closure to prevent the spread of the novel coronavirus disease (COVID-19) has not yet had a significant impact on goods circulation, said an official from the Ministry of Industry and Trade.

EU’s border closure yet to affect goods circulation: official hinh anh 1

People in Rome, Italy, wear face masks to prevent infection of SARS-CoV-2



The EU had formally agreed to temporarily close its external borders for 30 days to restrict non-essential travel in an effort to slow the spread of the pandemic.

Ta Hoang Linh, Director of the ministry’s European – African Market Department, said that it was too early to say how the EU’s move would affect cross-border trade as the European Commission stressed that goods would not be restricted across external borders.

The biggest impact of the COVID-19 pandemic, according to Linh, is the declining demand as Europeans will stay at home and reduce shopping for products like footwear, clothes and wooden items which are Vietnam’s major exports to the bloc.

He stressed that the ministry is keeping a close watch on the development of the EU’s closure of its external borders and the impacts on cross-border trade to develop detailed scenarios and measures to limit the negative impacts on Vietnam’s exports.

He also urged firms to prepare for any possible impacts on their import-export activities.

According to statistics of the General Department of Customs, Vietnam’s export revenue to the EU market was estimated at 5.15 billion USD in the first two months of this year, representing a drop by 4.56 percent over the same period last year. Experts said that the decline was, however, just temporary and more time was needed to see the trend.

Vietnam is having significant opportunities to boost exports into the 18 trillion USD market when the EU – Vietnam Free Trade Agreement (FTA) is expected to come into force in July.

Research by the Ministry of Planning and Investment pointed out that the trade deal will help increase Vietnam’s export revenue to the EU market by 20 percent in 2020 and 42.7 percent in 2025 compared with the scenario of no trade deal.

The EU was a major export market of Vietnam with revenue increasing more than 14 times from 2.8 billion USD in 2000 to more than 41.5 billion USD last year./.VNA

Coronavirus: European Union seals borders to most outsiders

Coronavirus: European Union seals borders to most outsiders

The unprecedented 30-day travel ban will bar foreign travellers, with some exceptions.

COVID-19: Vietnam Airlines prepares two scenarios if Europe closes airspace

COVID-19: Vietnam Airlines prepares two scenarios if Europe closes airspace

Vietnam Airlines said on March 17 that the national flag carrier is waiting for the outcomes of a meeting between European Union members to make a decision on its flight schedule between Vietnam and Europe.


IPP Air Cargo approval procedure suspended at investor's request

The Transport Ministry has informed to the Prime Minister of a suspension of the approval procedure for the IPP Air Cargo JSC at the request of the carrier’s investor.

Borussia Dortmund touches down in Vietnam

Renowned midfielder Marco Reus and a delegation made up of 123 players and staff from leading German side Borussia Dortmund landed at Noi Bai International Airport on November 29.

National Assembly Chairman begins official visit to Australia

National Assembly Chairman Vuong Dinh Hue and the Vietnamese NA's delegation arrived in Canberra on November 29 evening (local time), starting an official visit to Australia from November 30 - December 3.


International Circus Festival to open in December


EVN's losses estimated at VND31.3 trillion in 2022

Co la, the food tray that demonstrates Muong ethnic culture in Hoa Binh

For Muong ethnic people, especially those living in Hoa Binh Province, cỗ lá (literally means a food tray displaying several dishes) is more than just a popular food.

Experts call for Hanoi to become a 'creative city'

Cultural industry development is a new issue, and Hanoi does not have much experience promoting its potential advantages.

Apple jumps to second highest seller of smartphones in Vietnam for first time

iPhone accounted for 20.5 percent of market share in Vietnam in October 2022, according to GfK.

Credit concerns affecting Vietnamese stocks should ease soon: VinaCapital

The demand for new housing units in Vietnam is still strong and prices are still affordable, and so the prices of real estate stocks are likely to recover if and when the Government takes action to ease credit conditions.

Fuel prices soar, EVN faces huge losses

Due to the global rise of coal, oil and gas prices, EVN’s electricity production costs and purchase costs have increased sharply. The group may incur losses of up to VND64.8 trillion in 2022.

Banks gain big profits from forex trading

Most banks reported strong profit growth from the foreign exchange business in the first three quarters of this year thanks to the sharp appreciation of the US dollar, Q3 2022 financial statements showed.

National Sports Games to take part in December

The 2022 National Sports Games (NSG) will be held in Quang Ninh Province from December 9-21.

Vietnam lures over $25 billion in foreign investment in 11 months

Despite a decline of 18 per cent in newly registered capital to $11.5 billion, foreign capital disbursement saw a positive increase of 15 per cent to reach $19.68 billion in the January - November period.

India - new market for VN tourism

According to the World Tourism Organization, Indians spent $22.9 billion traveling abroad in 2019 and the figure was estimated to reach $42 billion by 2024, $45 billion by 2025 and about $91 billion by 2030.

Without career guidance, students drop out in first, second academic years

Without appropriate career guidance when choosing a major in a university, many students have studied the wrong majors so and dropped out after the first year because they chose an unsuitable study program.