Business owners joined a workshop in Hanoi on May 22 to share theiropinions on the opportunities and challenges they will face once Vietnamjoins the Regional Comprehensive Economic Partnership (RCEP) byDecember 2015.
A representative from the Central Institute forEconomic Management shared the positive news that farming, industry andconstruction exporters will be able to access wider markets and theywill stand a chance of buying materials at lower costs and joining theglobal value chain.
However, some voiced concern over thepossibility of high tariff ceilings for several kinds of goods, andwarned of barriers to a few exporting items.
As Vietnam mainlyexports crude materials, it will face a stiff competition with regionalrivals which are striving to meet better quality requirements andovercome tax barriers.
Claudio Dordi, chief advisor of theEuropean Trade Policy & Investment Support Project vowed to helpVietnam enter the global trade system and boost agreements with ASEANand the EU. He said he will help ensure that the country will fullyenjoy the fruits of economic development, including comprehensive growthand poverty reduction.
The RCEP is a proposed free tradeagreement between ASEAN member states and Australia, China, India,Japan, the Republic of Korea and New Zealand.-VNA
A representative from the Central Institute forEconomic Management shared the positive news that farming, industry andconstruction exporters will be able to access wider markets and theywill stand a chance of buying materials at lower costs and joining theglobal value chain.
However, some voiced concern over thepossibility of high tariff ceilings for several kinds of goods, andwarned of barriers to a few exporting items.
As Vietnam mainlyexports crude materials, it will face a stiff competition with regionalrivals which are striving to meet better quality requirements andovercome tax barriers.
Claudio Dordi, chief advisor of theEuropean Trade Policy & Investment Support Project vowed to helpVietnam enter the global trade system and boost agreements with ASEANand the EU. He said he will help ensure that the country will fullyenjoy the fruits of economic development, including comprehensive growthand poverty reduction.
The RCEP is a proposed free tradeagreement between ASEAN member states and Australia, China, India,Japan, the Republic of Korea and New Zealand.-VNA
