Upon the entry into force of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, great opportunities for Vietnam will usher in export and import market expansion, as well as an ease in rule of origin. VIR delves into the potential bonanzas deriving from the deal’s member markets.
The Vietnam Chamber of Commerce and Industry – HCM City Branch (VCCI-HCM), in collaboration with the China Foreign Trade Centre, held a conference on Wednesday to introduce the 125th China Import and Export Fair (Canton Fair) and a business exchange between Vietnamese and Chinese enterprises.
As many as 500 enterprises from 23 countries and territories are expected to participate in the Vietnam International Trade Fair (Vietnam Expo 2019), scheduled to take place in Hanoi from April 10 to 13.
On March 19 2019 in Ho Chi Minh City, Deputy Director General of Vietnam Customs, Hoang Viet Cuong chaired the meeting with Ho Chi Minh City competent agencies to discuss solutions to enhance the rank of cross-border trade transactions index.
Vietnam attained a trade surplus in three consecutive years from 2016 to 2018. However, the trade deficit has returned in the first two months of this year. Associate Professor Pham Tat Thang, senior researcher of the Trade Research Institute under the Ministry of Industry and Trade, speaks to Hải Quan (Customs) newspaper about the deficit.
Digitizing has been drastically changing the "face" of the global economy. Not standing outside the "game", Vietnam is considered as a country with great potential to strongly develop to a digital economy, if it resolves inadequacies and limitations of mechanisms and policies.
The private sector, despite being considered the driving force of the economy, has yet to achieve a breakthrough due to many reasons, experts said.
The outcomes of the Free Trade Agreement between the EAEU and Vietnam over the first two years are mixed. They are quite noticeable when it comes to trade in goods, but elusive in other areas.
Extensive international economic integration opens up many opportunities but also poses many challenges for agricultural exports, especially when the small scale and dispersed characteristics of Vietnamese agriculture cannot change in "a day or day two".
In addition to benefiting from import tariff cuts, under the EU-Vietnam Free Trade Agreement, European businesses will be able to have their products protected in Vietnam, to which they can boost exports on account of the nation’s commitments in protection of geographical indications.
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