The latest preliminary statistics of the General Department of Customs show that the total value of Vietnam's exports and imports in May (from May 1-15) reached US$17.39 billion, down 4.7% (equivalent to US$856 million) compared to the second half of April 2020.
In order for Vietnamese goods that are exported to the EU to enjoy preferential tariffs in the EVFTA, businesses must obtain a thorough grasp of the provisions set out in the trade deal which stipulate very strict requirements regarding the origin of products, according to insiders.
The National Assembly (NA) on Monday ratified Convention 105 on Abolition of Forced Labour with 94.82 per cent of NA deputies in agreement.
National Assembly deputies officially ratified the Europe-Vietnam Free Trade Agreement (EVFTA) and the Europe-Vietnam Investment Protection Agreement (EVIPA) on Monday morning.
Vietnam’s small- and medium-sized enterprises (SMEs) received updates on the latest information relating to the EU-Vietnam Free Trade Agreement (EVFTA) at an online conference held by the Ministry of Industry and Trade (MoIT) and the Vietnam Association of Small and Medium Enterprises (VINASME) on June 5.
After a fall of more than 1.6% in April, exports of the foreign direct investment sector (FDI) in May 2020 continued to see a deep fall of 5.7%.
Minister of Industry and Trade Trần Tuấn Anh said trade barriers, including tariff and non-tariff restrictions, should be limited to restore the economies of ASEAN members amid the COVID-19 pandemic.
The EU-Vietnam Free Trade Agreement (EVFTA) is awaiting approval of the Vietnamese National Assembly, which marks Vietnam’s great strides in international economic integration.
The impending European Union-Vietnam Free Trade Agreement (EVFTA) is projected to act as a boost for export turnover and enhance the competitiveness of Vietnamese rice in the EU market, according to Pham Thai Binh, General Director of Trung An High-tech Agriculture Joint Stock Company.
With the European Union-Vietnam Free Trade Agreement (EVFTA) poised to come into force, many believe that it will present more diversified market opportunities for local businesses, therefore helping them to regain growth momentum following the novel coronavirus (COVID-19) pandemic
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