Overcoming tariff barriers doesn’t mean Vietnamese good and services can easily enter the European Union (EU), but they still have to satisfy strict non-tariff requirements of what is one of the world’s most demanding markets, according to Minister of Industry and Trade Tran Tuan Anh.
Canada is now a promising market for Vietnamese goods as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to open up this market for Vietnamese goods, heard a workshop in Hanoi on April 25.
Vietnam's fiscal deficit will stay high at 5.7 percent (including interest repayment) in 2019 due to delays in the divestment of State-owned enterprises (SOE) and lower import tax revenues, according to Fitch Group’s Fitch Solutions forecast.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to create opportunities for Vietnam to expand markets for major exports like wood and timber products, and seafood.
The Hanoi State Treasury must collect 1.3 trillion VND (around 55.5 million USD) per day for the budge to fulfill the target set for the whole year, said its director Dao Thai Phuc at a recent meeting.
Two-way trade between Vietnam and Australia surged by 58.9 percent year on year in the first month of 2018 to reach 595 million USD, according to statistics of the Vietnam Customs.
Australia will cut 90 percent of import tariff lines in 2018 and 100 percent of them in 2020 under the ASEAN-Australia-New Zealand Free Trade Agreement roadmap, said the Ministry of Industry and Trade.
Many goods imported from the Republic of Korea (RoK) into Vietnam will be exempted from import taxes in 2018, due to the Vietnam-Korea Free Trade Agreement (VKFTA).
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