Ftas

The total exports of Vietnam to the world are also expected to rise by about 5.2-8.2 per cent on average in the first five years of the FTA’s implementation, about 11-15 per cent in the next five-year period, and about 18-22 per cent in the following five years. It can be expected that because of the EVFTA, Vietnam will attract foreign investors and will be subject to thorough reforms, which may improve the business environment. … [Read more...] about Investing in people to avail of EU’s tech advances

Also, the strong emphasis on the rule of origin, which is one of the core conditions for tariff removal, will have a deep and positive impact on Vietnam’s industrial development. In the manufacturing sector today, the country shines by its ability to assemble products with components that are mostly imported. The rule of origin invites companies to invest into a deeper layer of the supply chain – more locally-made materials and components to feed large-scale assembly plants are expected to be developed, allowing Vietnam to be more autonomous and thus resilient. … [Read more...] about EVFTA – for a mutual future beyond tariff elimination

Trung An Company has just successfully exported 150 tons of ST20 and Jasmine fragrant rice in August this year at a fairly high price of US$600 per ton for Jasmine rice and $1,008 per ton for ST20 rice. According to Mr. Pham Thai Binh, General Director of Trung An Company, this is not the first time the company has exported rice to the EU, but these are the first batches of rice to be exported with import tariffs at zero percent when the EVFTA takes effect. To achieve this achievement, Trung An has done technical preparation to meet the EU market standards since 2011. It took 3-4 years for the company to improve the soil to produce clean and organic rice. Besides, Trung An must ensure the factors of origin of goods, quality of warehouses, environmental conditions, and food hygiene and safety. Orama Asiatic pennywort (Centella Asiatica) powder of Thien Nhien Viet Import Export Company Limited is favored by many EU customers, especially those in the Netherlands. Fresh pennywort is sold … [Read more...] about Enterprises share their experiences of exporting goods to EU market

Berlin (VNA) – The Berlin ASEAN Committee held the ASEAN Day in the German capital city on October 25, aiming to enhance mutual understanding and cooperation between ASEAN countries and Germany. The annual event saw the presence of Director General for Asia and the Pacific at the German Federal Foreign Office Ina Lepel, member of the German federal parliament and head of the Germany-ASEAN Parliamentary Friendship Group Renate Kuenast, and diplomats from ASEAN countries. In his speech, Vietnamese Ambassador Doan Xuan Hung, head of the Berlin ASEAN Committee, highlighted the bloc’s achievements over the last five decades, which have turned ASEAN into a united, strong and comprehensively cohesive community that has greatly helped to maintain regional peace, stability, cooperation and development. It has been playing an increasing role in the region and the world, the diplomat affirmed. ASEAN’s relations with the European Union (EU) and Germany have developed … [Read more...] about ASEAN Day bolsters Southeast Asian countries’ ties with Germany

In order to attract foreign companies including Japanese companies, it is important for Viet Nam to continue to improve the investment environment and develop human resources. In addition, in order to improve the industrial structure of Viet Nam, it seems necessary to work on attracting foreign companies that include technology- and knowledge-intensive industries in and around urban areas such as Ha Noi, HCM City and Hai Phong, and labour-intensive industries in rural areas. … [Read more...] about New Japanese gov’t likely to continue Abe’s policy for Viet Nam: JETRO economist