Illustrative image (Source: Internet)
Hanoi (VNA) – Vietnam and Cuba made significant progress in their second negotiation round on a new trade deal after the four days of sitting in Hanoi, the Ministry of Industry and Trade (MoIT) said on September 1.

The Vietnamese delegation was co-headed by Director and Vice Director of the MoIT’s American Market Department, Nguyen Duy Khien and Tran Duy Dong. Meanwhile, Rigoberto Enoa Novo, Director of the Trade Policy with Asia and Oceania Department under the Cuban Ministry of Foreign Trade and Investment led the Cuban delegation.

The two sides reached a consensus on the wording of the agreement, and openly negotiated issues relating to tax incentives.

Accordingly, 90 percent of the tax lines of both sides have been proposed for prompt elimination or reduction, accounting for 99 percent of the two countries’ export turnover to each other.

In the coming time, Vietnam and Cuba will continue refining the wording of the agreement, and the offers of tariff preferences.

The third negotiation round of the agreement will be held in Havana, Cuba in the first quarter of 2017.-VNA