The Vietnamese Ministry of Industry and Trade (MoIT) has completed a dossier for the ratification of the EU-Vietnam Free Trade Agreement (EVFTA) since early January, and will submit it to the Prime Minister for decision.
The veggie and fruit sector aims to gross 5 billion USD from exports this year on the back of new-generation free trade agreements, the Vietnam Fruit and Vegetable Association (VINAFRUIT) said.
The European Parliament (EP)’s Committee on International Trade (INTA) adopted recommendations for the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (IPA) in Brussels on January 21.
Shrimp exports to Australia increased strongly in 2019, expanding at a two-digit growth rate, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The Vietnamese Government has issued a decree on Vietnam’s special preferential import tariffs for the implementation of the ASEAN-Hong Kong (China) Free Trade Agreement (AHKFTA) in the 2019-2020.
To take advantage of free trade agreements and expand exports, meeting rules of origin is crucial for the garment and textile sector, industry insiders have said.
Vietnam’s GDP growth would reach 6.8 percent from the 7.02 percent posted in 2019, mainly due to a slowdown in the industrial sector, analysts from Fitch Solutions forecast.
International free trade agreements such as the CPTPP and the EU-Vietnam Free Trade Agreement have opened up unprecedented opportunities for Vietnamese steelmakers with the industry forecast to see robust growth.
Vietnam's customs department contributed a record 348 trillion VND (15 billion USD) to the State budget from the collection of import and export taxes in 2019, according to the General Department of Customs.
Vietnam’s wood exports this year are set to reach up to 11.5 billion USD, exceeding the industry’s own target of 10.5 billion USD, a 20 percent increase compared to last year.
One of the fastest economic growth rates in the region, the signing of free trade and investment protection deals with the EU, and the Politburo’s first-ever resolution on foreign investment attraction were among the top 10 economic events of Vietnam in 2019.
Vietnam’s wood exports this year are set to reach up to 11.5 billion USD, exceeding the industry’s own target of 10.5 billion USD, according to the Vietnam Timber and Forest Product Association (VTFPA).
The EU is a potential market for Vietnam's shrimp industry next year because it is the largest shrimp market in the world, while the shrimp production of this bloc has not met its demand, according to domestic seafood experts.
Vietnamese businesses should prepare to deal with potential trade barriers that could arise early next year when the European Union-Vietnam Free Trade Agreement (EVFTA) takes effect, experts have said.
The Thai Government has extended the anti-dumping duty on cold-reduced carbon steel, both coiled and uncoiled, from China, Vietnam and Taiwan (China) for the next five years to curb supply from the three markets.
With the Vietnamese coffee industry currently exporting to 80 countries and territories globally, the sector has already stated its ambitions to reach an export turnover of 6 billion USD in 2020, reported the Voice of Vietnam (VOV).
Timber and wood products generated about 9.64 billion USD in export revenue between January and November, up 19.5 percent year on year, statistics show.
Foreign direct investment in the wood processing industry has increased rapidly, especially since 2018, the Vietnam Timber and Forest Product Association has said.
Reduced revenue from cutting taxes on imported goods in accordance with various free trade agreements (FTA) Vietnam had signed was unlikely to affect State revenue, said the finance ministry in a conference held on December 12 in Hanoi.
The leather – footwear industry of Vietnam now has big opportunities thanks to FTAs, but to make full use of those deals, it needs to remove bottlenecks relevant to the supporting industry.
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