Business

CPTPP gives boost to Vietnamese exports

The Vietnam Chamber of Commerce and Industry (VCCI) on April 7 held a workshop to review the two-year outcomes of Vietnam’s implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
CPTPP gives boost to Vietnamese exports ảnh 1Illustrative photo (Source: VNA)
 Hanoi (VNA) – The Vietnam Chamber of Commerce and Industry (VCCI) on April 7held a workshop to review the two-year outcomes of Vietnam’s implementation ofthe Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP).

Thetrade pact was clinched in March 2018 by 11 countries, namely Australia,Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singaporeand Vietnam. It came into effect Vietnam in January 2019.

Participantheard that Vietnam’s exports to all members of the trade deal have been on therise, with an accumulated value amounting to 34.3 billion USD in 2019 and about34 billion USD in 2020, when the COVID-19 took its toll in the world.

Thevalue of shipments to the countries under the trade pact accounted for 12.02percent of Vietnam’s total export value in 2018. The proportion rose to 13percent in 2019 before returning back to 12.02 percent in 2020.

Footwear,garment-textile, wood and woodwork products recorded good growth over the reviewedyears.

However,the rate of taking advantage from CPTPP-related preferential tariff treatment stayedat 1.67 percent in 2019, well below Vietnam’s average rate of 37.2 percentposted in the year./. 
VNA
#Vietnam Chamber of Commerce and Industry #VCCI #CPTPP #COVID-19 #preferential tariff treatment #Vietnam #vietnam news agency #vietnamplus
Follow VietnamPlus

Related News

Webinar spotlights Vietnam-Canada trade in CPTPP in post-COVID era

Webinar spotlights Vietnam-Canada trade in CPTPP in post-COVID era

The Embassy of Vietnam in Canada in coordination with the Canada-Vietnam Trade Council on December 3 held a webinar on “Vietnam – Canada Trade in CPTPP: Ways Forward and Recommendations for the Post-COVID Era”, bringing together about 70 delegates from both sides.
CPTPP – a booster for Vietnamese exports to Latin America

CPTPP – a booster for Vietnamese exports to Latin America

Vietnam boasts huge potential to increase shipments to Mexico, Peru and Chile – the three Latin American nations having high tariff-reduction commitments under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Vietnam willing to share CPTPP information, experience with UK: Spokesperson

Vietnam willing to share CPTPP information, experience with UK: Spokesperson

Vietnam supports the UK in strengthening economic and trade relations with member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and is willing to share information and experience in joining the pact with the UK, Foreign Ministry spokesperson Le Thi Thu Hang has said.
CPTPP benefits Vietnam-Canada trade ties: experts

CPTPP benefits Vietnam-Canada trade ties: experts

Vietnam and Canada have enjoyed robust trade ties thanks to opportunities brought by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that took effect in Vietnam from January 14, 2019, heard a conference held in Hanoi on March 23.
CPTPP – a booster to Vietnam – Canada trade

CPTPP – a booster to Vietnam – Canada trade

Preferential tariff treatment under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has brought in robust results to the trade in goods between Vietnam and Canada, according to insiders.

See more

A vessel docks at Hai Phong Port ready to be loaded with containers. (Photo: VNA/VNS)

Vietnam's port firms thrive in 2024

According to the Vietnam Maritime Administration, the total cargo volume through the nation's port system reached approximately 864.4 million tonnes, up 14% year-on-year. Container throughput was estimated at 29.9 million TEUs, reflecting a 21% rise.

THACO Chairman Tran Ba Duong (Photo: VNA)

THACO targets sales of over 100,000 vehicles in 2025

In 2025, THACO will continue to expand the scale of investment in all six key production and business sectors including automotive, agriculture, mechanical engineering and supporting industries, investment - construction, trade – services, and logistics.

Nearly 1 million workers of more than 12,600 businesses with trade trade unions in Ho Chi Minh City have returned to work following the nine-day Lunar New Year (Tet) holiday. (Photo: VNA)

HCM City: Nearly 1 million workers back to work after Tet holiday

Nearly 1 million workers of more than 12,600 businesses with trade trade unions in Ho Chi Minh City have returned to work following the nine-day Lunar New Year (Tet) holiday, reaching 85.33% of their total workforce, according to the municipal Labour Federation.