The trade embargo between Vietnam and the United States is in place, but the economy is growing.
That’s what economists and business leaders say is clear in a new report that shows Vietnam’s economy is making strides despite the economic embargo.
Vietnam has been the world’s biggest exporter of food and beverages in the past two years, and it’s poised to increase that market share in the coming years, said Robert Meeks, a senior fellow at the Peterson Institute for International Economics (PIIE).
In his report, Meeks noted that in 2016, Vietnam’s total food and beverage exports rose by 5 percent to $2.3 billion, compared to the year before.
That was an increase of more than 3 percent, the largest increase in five years.
The trade embargo also helps Vietnam’s export-dependent economy grow at a faster rate than its neighbor to the north.
The country has been importing goods from the United Nations and the European Union (EU), and that influx has pushed up its gross domestic product (GDP) by 5.6 percent over the past year, according to a report by the Vietnam Economic Development Center (VEDC).
Vietnamese exports to the EU and other EU countries increased by $1.2 billion in 2016 to $5.2 million, Merses report found.
Vietnam’s exports to Japan increased by 2.7 percent to more than $1 billion.
The report, “Viet Nam’s Growth in the Trade Embargo,” comes just weeks after President Donald Trump signed an executive order to suspend immigration from six countries — including Vietnam — and impose a 10-year ban on immigration from seven countries — Syria, Iran, Sudan, Libya, Somalia, Yemen and Venezuela — until March 10, 2021.
The U.S. and EU have been the most aggressive in imposing trade sanctions on Vietnam, but Vietnam’s government has said the order does not apply to trade.VNDB, a state-owned company, has been heavily criticized for the way it treats the Chinese economy.
The government has also been accused of allowing a Chinese company to purchase its shares in its oil and gas fields.
Videns Ministry of Industry and Information Technology released a statement on Wednesday denying the accusation.
VNDB has never made an investment in any foreign company or given any preferential treatment to any foreign investor, and has always maintained that any such investment would only result in fair and competitive prices for our customers,” the statement said.
In 2016, China’s economy contracted by 3.2 percent, according a report from the Beijing-based China Development Bank.
In 2016, VNDb’s trade deficit with China increased by 14.2 trillion won ($11.5 billion), according to data from the U.N. Office for the Coordination of Humanitarian Affairs.
Vladimir Putin has made China a key U. S. partner in efforts to contain the threat of North Korea, which has been advancing nuclear weapons and developing a missile and satellite program.
The economic embargo is intended to isolate North Korea and prevent it from obtaining nuclear weapons.VIC is the first Southeast Asian country to impose trade sanctions against the Chinese.
The Chinese government has been blocking Vietnamese companies from exporting products from the country, and VNDBs annual foreign exchange trade has fallen by more than half.
The United States imposed trade sanctions in July of last year on the same year that President Trump signed the trade order.
The new restrictions also target China’s oil, mining, banking and other sectors.
Vincent Van Duyn, vice president for policy and advocacy at the Institute of Southeast Asian Studies (ISAAS), said that the current restrictions are a result of the economic isolation and pressure on the Vietnamese government to implement them.
The Vietnam embargo has had an adverse effect on exports of food, he said.
VIC has not had enough time to implement the changes, which will be phased in over the next year.
The Vietnamese government has made a commitment to implement its trade policies in a more transparent manner and the embargo is an attempt to discourage foreign companies from entering the country to do business, Van Duin said.
The Vietnamese government also needs to be more flexible and open with foreign companies in Vietnam, Van Deyn said.VNTEA, a trade association, said it supports the Vietnam embargo.
VNTEa said in a statement that it “is in support of the Vietnamese authorities’ efforts to enforce the sanctions and encourage companies to comply with them.”
The Vietnam government said that in a joint statement with the U., the United Kingdom, and the Netherlands, it would not impose trade restrictions until its domestic policies are in line with international norms and regulations, such as the TPP and the WTO.
The U.K., U.C.A. and other countries that are part of the TPP are currently working to establish a framework for a regional trade pact to deal with issues related to trade, labor and intellectual property.
The TPP was designed to