Canada eu trade deal

In a joint statement issued after their talks and the signing of the document on the sidelines of the 74th session of the UN General Assembly in New York (US), the leaders affirmed that the two countries have reached a bilateral trade agreement on reducing tariffs on agricultural and industrial goods. At the same time, they agreed to curb actions that run counter to the spirit of initial commitments, while striving to work out solutions to the tax-related disagreements and continuing to conduct consultations to reach a comprehensive deal within the next few months. Under the “initial-phase” agreement, Japan will reduce tariffs on US$7 billion worth of agricultural goods imported from the US, including beef, pork, wheat and buckwheat. In return, the US will reduce taxes on US$40 million of agricultural products and loosen the duty-free quotas on Japanese beef imports. Notably, the text of the agreement contained no explicit assurances, but the Japanese side received the … [Read more...] about Newly signed deal eases US-Japan trade tensions

At the 4th national farmers’ forum (Photo: VNA) Hanoi (VNA) – Opportunities created by free trade agreements (FTAs) for Vietnamese farm produce to access big markets in the world were explored at the 4th national farmers’ forum in Hanoi on October 11. Vietnam joined two new-generation FTAs in 2018 and 2019, which were the Comprehensive and Progress Agreement on Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA). The two deals are expected to open up great opportunities for Vietnamese farm produce in 37 markets with a combined population of over 1 billion. Deputy Minister of Industry and Trade Do Thang Hai emphasized the prospect of cooperation with new partners through the CPTPP such as Canada, Chile, Mexico and Peru, thanks to the application of 0 percent tariffs for most key farm exports of Vietnam immediately after the pact took effect or after just three to five years. The EVFTA also gradually reduce import tariffs on … [Read more...] about FTAs open new chances for Vietnamese farm produce

Rice export volume up but value falls The ministry said the total rice export volume and value in the first nine months of this year reached 5.2 million tonnes and $2.24 billion, respectively. The figures represented a rise of 5.9 per cent in volume and a drop of 9.8 per cent in value compared to the same period in 2018. Of which, Viet Nam shipped abroad 586,000 tonnes of rice in September for $251 million. The Philippines was the top market for Vietnamese rice in the first eight months of this year, consuming 1.76 million tonnes worth $720 million, 2.9 times higher in volume and 2.6 times in value over the same period last year. Strong growth was also seen in other markets, including Australia (75 per cent), Ivory Coast (nearly 35 per cent) and Hong Kong (nearly 35 per cent). The average rice price in the first eight months fell 13.8 per cent year on year to $435 per tonne. White rice led the way in the period, accounting for 47 per cent of total revenue, followed by Jasmine rice … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 14