The contribution of import duty to customs revenue has been declining over the past few years, from 21.85% in 2017 to 17.4% in 2018 and 16.7% in 2019.

The proposed tariff cut is aimed to balance bilateral trade relations.

Japan, Malaysia, Singapore, Australia, New Zealand and Chile are countries that Viet Nam has bilateral or multilateral FTAs with.

The domestic textile and garment industry was still striving to reach its export revenue target of US$40 billion this year despite facing many difficulties, said Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS).

In recent years, Vietnam has signed several important trade agreements with major economic partners, notably the CPTPP and the EVFTA.

The Vietnamese economy is likely to grow at an annual average pace of 7% during the 2021-2015 period, according to a projection by the National Centre for Socio-economic Information and Forecast.

As a member of WTO and EVFTA, Vietnam has yet to permit foreign investors to offer air transport services, though aviation services and projects have been opened for investment since the signing of CPTPP.

Vietnam’s logistics industry can reap the rewards of the country’s growing economy.

Vietnam’s GDP is forecast to expand 7 percent during 2021-2025 on the back of new-generation free trade agreements, according to the Ministry of Planning and Investment’s National Centre for Socio-Economic Information and Forecast (NCEIF).

Thirty-eight Vietnam’s textile and garment companies recently attended ‘Global Sources Fashion and Global Sources Lifestyle’, the biggest fashion exhibition in Hong Kong, to seek buyers.

More and more foreign dairy producers have arrived in Vietnam as they can see the great potential of the market.

The relations between Canada and Vietnam will continue to develop despite recent changes in Canada’s politics, according to experts and diplomats.

Dr Tran Cong Thang, director of the Institute of Policy and Strategy for Agriculture and Rural Development, speaks to Countryside Today newspaper about Vietnam's efforts to promote local products in international markets.

Coca-Cola's announcement that it will enter the dairy sector will increase pressure on Vietnamese producers.

The Ministry of Planning and Investment (MPI) is drawing up a plan to increase Vietnam’s national productivity, which remains at an alarmingly low rate compared with neighboring countries.

Vietnamese enterprises are not doing enough to learn about the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which make them fail to grasp opportunities arising from the trade deal.

The Ministry of Industry and Trade (MoIT) is drafting a circular providing guidance for the application of safeguard measures for textile and apparel products under the CPTPP.

The benefits brought by EVFTA, CPTPP and other free trade agreements are described as ‘tonics’ and ‘supplements’ for Vietnam.

The textile and garment industry has orders to export $18 billion worth of products, but the opportunities brought by CPTPP have not been that great so far.

Vietnam’s textile and garment companies are trying to find more orders to ensure continuous production from now to the end of the year.