Việt Nam's prospects appear positive as the economy is projected to grow by about 6.8 per cent in 2021 and, thereafter, stabilise at around 6.5 per cent, according to the latest World Bank’s economic update for Việt Nam “Taking Stock”.
Vietnam has emerged as the sixth largest wooden furniture exporter to the UK, grossing an export value of approximately US$422 million last year to make up 3.6% of the import market share, according to the Ministry of Industry and Trade.
The ASEAN Committee in Brasilia (ACB) and the Brazilian Trade and Investment Promotion Agency (Apex-Brasil) recently held an online meeting aimed at discussing future trade and business co-operation opportunities and ways to develop further economic ties between Brazil and both ASEAN and the nation.
In order to ensure the strict implementation of international commitments and the provisions of Circular No. 19/2020/TT-BCT, the General Department of Vietnam Customs will issue a document to guide provincial Customs Departments on a number of contents about origin of goods in the ATIGA.
If Vietnam and China can further optimise their neighbourliness as well as the huge trade potential under the EU-Vietnam Free Trade Agreement (EVFTA), bilateral trade will reach new heights, an official said at an online business matching event on December 17.
Việt Nam's exchange rate control, as part of its general currency policy, aims at keeping inflation in check and stabilising the macroeconomy. The country does not intend to create unfair competitive advantage in international trade, said the State Bank of Vietnam (SBV) on Thursday morning in a response to a report by the US Department of the Treasury in which it listed Việt Nam and Switzerland as currency manipulators.
Eurasian Economic Union (EAEU) countries pledged to provide a tariff quota of 10,000 tonnes of rice from Vietnam next year under the Vietnam-EAEU Free Trade Agreement.
The Japan Center for Economic Research (JCER) has recently released a report relating to the medium-term forecasts of various Asian economies, in which the nation is anticipated to develop into a middle-income country by 2023, whilst going onto surpass Taiwan (China) in terms of GDP by 2035.
Incentives brought about by the implementation of the impending UK-Vietnam Free Trade Agreement (UKVFTA) are expected to assist Vietnamese rice exporters in increasing their market share in the UK, according to experts.
Vietnam was ranked fifth in terms of global trade connectedness last year, up five places from the previous ranking in 2017, according to a report jointly released by the US’s New York University Stern School of Business and logistics giant DHL.
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