VietNamNet Bridge – The proposed APEC free trade agreement (FTAAP) is expected to be on a larger scale than the Trans Pacific Partnership (TPP) agreement, but many Vietnamese businesses are not enthusiastic about the trade pact. Several trade and economic agreements, including TPP and RCEP, are being discussed in Asia now. The TPP, or the Trans-Pacific Partnership, is a proposed regional free trade agreement that is currently being negotiated by 12 countries throughout the Asia-Pacific region, while RCEP, the Regional Comprehensive Economic Partnership, is a proposed free trade agreement (FTA) between 10 member states of the Association of Southeast Asian Nations (ASEAN) and six states with which ASEAN has existing FTAs. While the TPP and RCEP negotiations are progressing slowly, another free trade area has been proposed – the FTA of the Asia Pacific – which would comprise Vietnam and 20 other countries. If the area is established, FTAAP will be one of the … [Read more...] about Businesses believe APEC’s free trade agreement will bring few benefits
Asean china free trade agreement
Making the most of the EU-Vietnam Free Trade Agreement
After three years and 14 formal negotiation sessions, on December 2 in Brussels the Minister of Industry and Trade Vu Huy Hoang and the European Trade Commissioner Cecilia Malmstrom signed a joint statement officially concluding negotiations over the EU-Vietnam Free Trade Agreement (EVFTA). The agreement is of high quality, complete, and balanced in terms of interests, in which the EU and Vietnam have pledged to abolish over 99 per cent of import duties. Vietnam will liberalize its tariff regime over a ten-year period and the EU over a seven-year period. The opportunities presented by the FTA are accompanied by great challenges, in particular the strict non-tariff barriers that remain a persistent concern of exporters in Vietnam. How can enterprises and State management agencies adapt to this high-quality agreement? After the joint statement was signed VET sought an answer from experts and industry insiders. Formulating strategic action … [Read more...] about Making the most of the EU-Vietnam Free Trade Agreement
ASEAN-China Expo 2013 opens
(VOVworld) – The ASEAN-China Expo 2013 and the 10th ASEAN-China Business and Investment summit opened in Nanning city, in China’s Guangxi province on Tuesday. In his opening speech, Chinese Prime Minister Li Keqiang said that boosting cooperation with ASEAN member states is a priority in China’s foreign policy. He said that China supports ASEAN’s development for peace, stability and prosperity in the region. He added that ASEAN and China should deepen their mutual trust to boost the strategic partnership. In his address, Vietnamese Prime Minister Nguyen Tan Dung said that Vietnam is joining other ASEAN countries to build an ASEAN Community and that the country is actively integrating into the region and the world: “We always support ASEAN-Chinese cooperation and believe that it will boost relations between Vietnam and China. Vietnam encourages and creates favorable conditions for businesses in China and ASEAN countries to seek investment and business … [Read more...] about ASEAN-China Expo 2013 opens
Careful with New Free Trade Agreements
Careful with New Free Trade Agreements "With the goal of national industrialisation and modernisation and international economic integration, Vietnam plans to accelerate the negotiation and signing of free trade agreements (FTAs) with top trade partners such as the European Union (EU), the United States (US) and new-generation agreements like Trans-Pacific Partnership (TPP) and Regional Comprehensive Economic Partnership (RCEP). The negotiation and signing of many FTAs provide favourable opportunities for Vietnam, but also poses potential challenges,” said Dr Ngo Duc Manh, Vice Chairman of the Foreign Affairs Commission of the National Assembly at a workshop entitled "Free Trade Agreements and Competitiveness of Vietnamese Enterprises - Expectations and Lessons Learned" hosted by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the Foreign Affairs Commission and the United States Agency for International Development (USAID). According to Dr Manh, the … [Read more...] about Careful with New Free Trade Agreements
ASEAN signs free trade, investment pacts with Hong Kong Most Recent News
NDO/VNA – The Association of Southeast Asian Nations (ASEAN) and China’s Hong Kong signed a free trade agreement and a bilateral investment pact on November 12 on the sidelines of the 31st ASEAN Summit and related meetings in Manila, the Philippines. The pacts, which needed nearly three years of talks, are expected to become effective on January 1, 2018, and help the two sides gain deeper and bolder access to each other’s market and intensify bilateral trade and investment. Hong Kong Secretary for Commerce and Economic Development Edward Yau said that the agreements will create new business opportunities, and enhance trade and investment flows for Hong Kong businesspeople. “In the face of protectionist sentiments in other parts of the world, these two agreements are in fact a loud and clear vote from all of us here for freer and more open trade,” Yau said. Meanwhile, Philippine Trade and Industry Secretary Ramon Lopez said that they will bring about more … [Read more...] about ASEAN signs free trade, investment pacts with Hong Kong Most Recent News