Preferential export taxes offered by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are expected to be promulgated this month. However, the tax reduction is only one of the incentives for Vietnamese goods when entering markets, not a ‘lifesaver’ for businesses, said the Ministry of Industry and Trade (MoIT).
Prime Minister Nguyen Xuan Phuc suggested that Vietnam and India step up their trade ties during his reception for outgoing Indian Ambassador Parvathaneni Harish in Hanoi on June 17.
Vietnam’s National Assembly passed the amended Law on Tax Management and Law on Public Investment with more than 90% of the votes going in favour during its sitting on June 13.
Only 30 - 40 per cent of local firms have utilized opportunities arising from the free trade agreements Vietnam has signed, though the deals are reckoned to present an array of business chances.
In incremental stages over the past year, President Trump has imposed punitive tariffs on imports from China. Currently, about $250 billion worth of Chinese products are subject to tariffs of 25 percent.
Vice President Dang Thi N goc Thinh will attend the 5th Summit of the Conference on Interaction and Confidence Building Measures in Asia (CICA) to be held in Dushabe, the capital city of Tajikistan from June 14-15, the Ministry of Foreign Affairs said in a statement.
The Government of Vietnam will continue creating optimal conditions for US businesses, including Hanesbrands clothing company, to operate effectively in the Southeast Asian country, Deputy Prime Minister Trinh Dinh Dung affirmed on June 12.
Deputy Prime Minister and Foreign Minister Pham Binh Minh and Timor-Leste’s Minister of Foreign Affairs and Cooperation Dionisio Babo Soares consented to step up bilateral cooperation in trade-investment, education, agriculture, and fisheries during their talks in Hanoi on June 10
Many of Vietnam’s agricultural products, especially rice, vegetables and cassava, have faced barriers preventing their export to China, according to the Ministry of Agriculture and Rural Development (MARD).
S&P Global Platts reported that Vietnam’s Ministry of Industry and Trade has imposed 17.3% safeguard duty on steel billet imports from Malaysia and Kazakhstan effective June 13.
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