Business

Ministry of Industry and Trade makes effective use of FTAs

The Vietnamese Ministry of Industry and Trade’s implementation of free trade agreements (FTAs) has produced positive results in the past two years, an official has said.
Ministry of Industry and Trade makes effective use of FTAs ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – The Vietnamese Ministry of Industry and Trade’simplementation of free trade agreements (FTAs) has produced positive results inthe past two years, an official has said.

According to Nguyen Cam Trang, Deputy Director of the ministry’sImport-Export Department, in the first five months implementing the EuropeanUnion-Vietnam Free Trade Agreement (EVFTA) from August-December 2020, Vietnam’sexport to the union recorded a positive growth of 3.8 percent, instead of thecontraction in the previous period. Notably, in the subsequent seven months, the figurereached 17.8 percent.

Thanks to the UK-Vietnam Free Trade Agreement (UKVFTA) andthe Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP), Vietnam’s export turnovers to the UK, and Mexico and Canada have alsoseen significant increases.

The Regional Comprehensive Economic Partnership (RCEP),which becomes effective from January 1, 2022, is expected to create a long-termand stable export market for ASEAN countries in general and Vietnam inparticular.

In order to help businesses make effective use of FTAs, the ministry has continuously stepped up dissemination aboutopportunities, regulations and rules of export to help them enjoy incentivesand meet requirements.

It has also launched its ownportal on FTA (FTAP) and is considered a useful tool for exports to seeknecessary information./.
VNA
#Ministry of Industry and Trade #free trade agreements #FTAs #EVFTA #UKVFTA #CPTPP #Vietnam #Vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

Exporters advised to change themselves to further exploit UK market

Exporters advised to change themselves to further exploit UK market

Vietnamese firms are advised to change themselves towards increased application of high technology and stronger digital transformation to improve their products’ quality and optimise the UK-Vietnam Free Trade Agreement, thus better conquering this promising market.

See more

A visitor experiences technologies at the event. (Photo: VNA)

Vietnam Beautycare Expo 2025 opens in Hanoi

The Vietnam Beautycare Expo 2025 aims to facilitate trade and business connections between industry professionals, helping visitors seek out suppliers, distribution partners, and retailers in the beauty and personal care sectors.

The Boeing 787-9 Dreamliner with special livery featuring the chim Lac (Photo: VNA)

Vietnam Airlines unveils Lac bird-themed livery on Boeing 787-9 aircraft

Vietnam Airline Deputy General Director Dang Anh Tuan said that the Lac bird embodies the pioneering spirit, the desire to conquer, and the will to continuously rise, adding displaying the symbol on Boeing 787, a pride of the global aviation technology, showcases the airline’s aspirations to connect the tradition and the future while carrying the Vietnamese identity across the world.

Khanh Hoa welcomes return of Russian tourists (Photo: VNA)

New charter flights boost Russian tourism to Khanh Hoa

Flight EO3661 operated by IKAR Airlines landed at Cam Ranh International Airport on April 18, carrying 350 Russian tourists from Novy International Airport in Russia. This marks the first charter flight organised by Pegas Misr Vietnam Travel Co., Ltd. to bring Russian tourists back to Khanh Hoa after a long pause due to the COVID-19 pandemic.

Prime Minister Pham Minh Chinh (right) and Associate Vice-President of IFAD’s Department for Country Operations Donal Brown (Photo: VNA)

PM seeks IFAD’s support for Vietnam’s carbon credit market development

Highlighting the country's commitment to developing green and sustainable agriculture, PM Chinh requested IFAD to increase preferential loans and promote non-refundable aid for projects applying scientific and technological innovations in agriculture, while helping Vietnam successfully carry out the one million hectares of low-emission, high-quality rice project.

At the discussion on "Revitalising and Unleasing Finance Strategy for Global Green Growth". (Photo: VNA)

Green growth – an irreversible global trend: P4G discussions

Ministerial discussions were held on April 17 within the framework of the 4th Partnership for Green Growth and the Global Goals 2030 (P4G) Summit, bringing together domestic and international officials to address critical aspects of sustainable development and green transition.

The first commercial vessel officially docks at Berths 3 and 4 at the Hai Phong International Gateway Port in the northern city of Hai Phong on April 16. (Photo: VNA)

First commercial ship docks at new berths in Hai Phong

The official launching of terminals marks Hai Phong Port’s regional leading ability in port operations and reaffirms Hai Phong Port JSC’s key role in the North. Once HTIT is fully operational, Hai Phong Port’s market share in container cargo in the region is expected to reach 40%, and 60% for non-container cargo in the Hai Phong area.