A workshop introducing the ASEAN Economic Community (AEC), which is expected to be established by late 2015, was held in the Mekong Delta city of Can Tho on June 10.
Organised by the Ministry of Industry and Trade and the European Trade Policy and Investment Support Project (EU-MUTRAP), the event also updated participants on the free trade agreement (FTA) talks that Vietnam has joined.
Deputy Ministry Nguyen Cam Tu said the establishment of the AEC will mark a comprehensive integration process of Southeast Asian economies, creating a common economic venue for all ASEAN member nations.
This will help form a united production, trade, and investment bloc in the region, which boasts a huge population and an annual GDP of about 2 trillion USD, he added.
Vietnam has entered into FTA negotiations with the European Union, the Customs Union of Russia, Belarus and Kazakhstan, the Regional Comprehensive Economic Partnership (RCEP) agreement, the European Free Trade Association, and the Trans-Pacific Partnership (TPP) agreement.
Representatives from the ministry analysed opportunities and challenges for Vietnam as the country integrates intensively in the regional economy, those from the General Department of Taxation shared specific regulations on tax reduction for several commodities.
The Ministry’s Department of Import and Export also gave instructions to enterprises on how to apply the rules on preferential origin when exporting goods to markets with tax incentive.-VNA
Organised by the Ministry of Industry and Trade and the European Trade Policy and Investment Support Project (EU-MUTRAP), the event also updated participants on the free trade agreement (FTA) talks that Vietnam has joined.
Deputy Ministry Nguyen Cam Tu said the establishment of the AEC will mark a comprehensive integration process of Southeast Asian economies, creating a common economic venue for all ASEAN member nations.
This will help form a united production, trade, and investment bloc in the region, which boasts a huge population and an annual GDP of about 2 trillion USD, he added.
Vietnam has entered into FTA negotiations with the European Union, the Customs Union of Russia, Belarus and Kazakhstan, the Regional Comprehensive Economic Partnership (RCEP) agreement, the European Free Trade Association, and the Trans-Pacific Partnership (TPP) agreement.
Representatives from the ministry analysed opportunities and challenges for Vietnam as the country integrates intensively in the regional economy, those from the General Department of Taxation shared specific regulations on tax reduction for several commodities.
The Ministry’s Department of Import and Export also gave instructions to enterprises on how to apply the rules on preferential origin when exporting goods to markets with tax incentive.-VNA
