In commercial disputes that are required to be resolved at the Vietnam International Arbitration Center (VIAC), many Vietnamese businesses are suffering disadvantages due to negligence right from the negotiation and contracting.
Nordic countries often map out policies to achieve EU goals sooner than others. Among them, general principles and standards regulating manufacturers' responsibilities for textiles and garments from Nordic countries need to be paid attention by businesses.
Vietnam is currently a signatory to 16 free trade agreements (FTAs), which are described as highways connecting Vietnam’s economy with major trading partners in the world. In the agricultural sector, FTAs have become a powerful driving force, marking significant achievements across the entire industry.
While the EU-Vietnam Free Trade Agreement (EVFTA) has benefited businesses for four years, there are still more advantages that can be sought out. Dominik Meichle, chairman of the European Chamber of Commerce in Vietnam, discussed with VIR’s Bich Thuy about how to fully capitalise on future opportunities.
Compared to other countries in the region, Vietnam has many favorable conditions to develop the Halal industry (standard products and services for Muslims); especially the Vietnamese Government is also very interested in opening up and support Vietnamese businesses to effectively participate in the global Halal market.
Many seafood businesses have mentioned barriers that are affecting exports that need to be removed.
Besides 12 fruit and vegetable items; bird's nest, fish meal and some products for the production and processing of animal feed, dairy and seafood products that have been officially exported to China, fresh coconuts, frozen durian, crocodiles, poultry... are expected be officially exported to the Chinese market in the near future.
Despite the EU-Vietnam Free Trade Agreement’s removal of tariffs for many export items into the EU market, meeting stringent rules of origin may be a burden for businesses to cash in on the deal’s benefits.
According to experts, there is a need to promote participation in the global production network and value chain by enhancing connectivity within industries, domestic regions, and across different areas.
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China is one of Vietnam's two main seafood export markets. More than 800 Vietnamese seafood processing enterprises have been recognized by the General Department of Customs of China for export conditions to this market.
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