The Import and Export Department (MoIT) has just issued official dispatch No.812/ XNK-XXHH to associations, commodity sectors and exporters to provide guidance on proof of origin documents to support traders who export goods to take advantage of the EU-Vietnam Free Trade Agreement (EVFTA).
By July, many textile enterprises have not had any orders for the last two quarters of the year for high-value products such as suits and high-end shirts.
Since the European Commission first gave approval for the Europe-Vietnam Free Trade Agreement (EVFTA) in October, 2018, Ho Chi Minh City has been active in implementing a range of solutions aimed at helping firms seize the opportunities of this agreement, has said Duong Anh Duc, Vice Chairman of the HCM City People's Committee.
Vietnam’s rice exports to Africa rose sharply in the first six months of 2020 and are expected to continue surging in the remainder of the year and in 2021, according to Vietnamese Trade Counsellor in Algeria Hoang Duc Nhuan.
Despite COVID-19 challenges, Vietnam is one of the brightest spots in Asia and its economy is likely to rebound soon, Edward Teather, ASEAN economist at UBS Research told CNBC recently.
Economic and trade ministers of signatories to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) met online on August 5 to discuss how best to intensify cooperation and prepare a plan of action to boost post-pandemic economic recovery.
Prime Minister Nguyen Xuan Phuc has issued a plan for implementing a trade agreement between Vietnam and Cuba. The plan outlines the tasks for ministries, ministerial-agencies, State agencies and localities, one of which is to promote the dissemination of information related to the agreement through the media, websites, training courses, and seminars.
Textile and electronics have been the two export-oriented sectors mostly impacted by the COVID-19 pandemic, an official has said.
Although the EU-Vietnam Free Trade Agreement may greatly benefit businesses from both sides, they must first abide by labour and social standards set out in the deal to reap the various advantages.
In July, Vietnam estimated an export surplus of US$1 billion. Generally, in seven months of 2020, the trade balance of goods will continue to have trade surplus of US$6.5 billion, much higher than the trade surplus of US$1.98 billion in the first seven months of 2019.
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