Benefits of WTO slow to emerge (16-03-2007) Workers of Hoa Binh Province’s 3-2 Garment Co sew jackets for export. — VNA/VNS Photo Hong Ky HCM CITY — Expectations ran high when Viet Nam was admitted to the World Trade Organisation (WTO) in January, but the benefits of membership will emerge more clearly by the end of the year, according to Government officials. The effect on retail prices, which are expected to drop, has yet to be seen, although 1,812 import tariffs on mostly food and consumer products have fallen between 30 and 40 per cent. Viet Nam agreed to substantially lower import tariffs on many goods in exchange for similar market access to other WTO-member countries. Nguyen Thi Tranh, deputy general director of the HCM City-based Sai Gon Coop, said none of the imported items sold at the supermarket chain had fallen in price. This was partly due to contracts that were already in place last year. Prices should fall by the third or fourth quarter, she … [Read more...] about Benefits of WTO slow to emerge
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Listing stocks overseas: easier said than done? (13-11-2008) HA NOI — Domestic enterprises are exploring offshore listings – especially on regional exchanges such as Singapore Stock Exchange – as an alternative means to raise capital during the global credit crunch. Among such enterprises, PetroVietnam Finance Corporation (PVFC) – the financial arm of domestic petroleum giant PetroVietnam – recently announced a plan to list shares on the Singapore exchange with the support of strategic partner Morgan Stanley Singapore. Another PetroVietnam subsidiary –PetroVietnam Insurance Corporation – has also set plans in motion to list shares in Singapore in 2009. Dairy giant Vinamilk, Saigon Securities Inc, and software giant FPT have also been exploring the possibility of overseas listings since last year. "International integration is inescapable now that we are a WTO member, and listing offshore is a part of integration," Deputy Prime Minister Pham Gia … [Read more...] about Listing stocks overseas: easier said than done?
Korea Exchange aids overseas listings (15-11-2008) HA NOI — Korea Exchange Inc will join the Ha Noi Securities Trading Centre (HASTC) to help Vietnamese firms carry out offshore listings. Under a co-operation agreement signed yesterday, Korea Exchange Inc will offer seminars and other educational assistance on listing rules and requirements for enterprises seeking to list shares on the South Korean market. "We will also provide support for your firms on the problems they encounter while carrying out listings," said Korea Exchange Inc president Chang Ho Lee, in addition to ongoing technical assistance to HASTC. "Your domestic exchanges have achieved significant development during their eight years of operation. We expect that our support will contribute in part to your future development," said Chang. HASTC, in turn, will provide guidelines for Vietnamese firms in navigating local legal and regulatory proceeses, as well as supervise companies that ultimately list on the Korean … [Read more...] about Korea Exchange aids overseas listings
European Union (EU) and Russia have settled bilateral issues on Russia's accession to the World Trade Organization (WTO), European Commission said on Tuesday. The 26th EU-Russia summit gathered European Council President Herman Van Rompuy, European Commission President Jose Manuel Barroso and Russian President Dmitry Medvedev Tuesday in Brussels with the aim to enhance their bilateral relationship. On this occasion, the two sides signed a Memorandum of Understanding (MOU) on the settling of bilateral issues regarding Russia's accession to the WTO. "We believe it is a milestone because Russia becoming a WTO member in 2011 is now a very realistic perspective," Barroso said. The two sides agreed to shift the focus on multilateral negotiations so that Russia can join the WTO as soon as possible. Besides WTO talks, Russian and EU leaders made progress and developed a concrete plan on how to establish their Partnership for Modernization. While reminding that this partnership is not only … [Read more...] about EU, Russia settle bilateral issues on Russia’s accession to WTO
(VOVworld) – Despite the global economic crisis, agriculture remains a high point of Vietnam’s economy. Exports of agro-forestry and seafood products have been major contributors to national export revenues. But 5 years after Vietnam joined the World Trade Organization, export items haven’t increased in value and have faced many tariff barriers imposed by other countries. This has challenged Vietnam’s agricultural sector to consolidate and improve its brand in the international arena. VOV’s To Tuan reports….. After 25 years of reforms, Vietnam’s agricultural sector has gained remarkable achievements with comprehensive production growth and an average growth rate of 4.3% a year. Earnings from exporting agro-forestry and aquaculture items account for 30% of Vietnam’s total export value. Vietnam is the world second biggest rice exporter and is near the top of list for coffee, pepper, rubber, and seafood. Joining the WTO helped Vietnam … [Read more...] about Consolidating Vietnam’s agricultural brand 5 years after joining WTO