There are many opportunities as well as challenges for the automobile industry when Vietnam is implementing international commitments under free trade agreements (FTAs), heard a seminar organised by Hai Quan (Customs) magazine in Hanoi on May 24.

The Ministry of Industry and Trade will capitalise on signed free trade agreements (FTAs) to diversify markets, step up trade promotions and shift to exports through official channels with a view to gaining $377 billion in export revenue this year.

A business information portal at https://business.gov.vn and the ASEAN Access portal at https://aseanaccess.com were introduced with the aim of supporting enterprises in accessing market information at a workshop in HCMC on December 8.

The Ministry of Industry and Trade (MOIT) has submitted to the government a report about problems related to implementation of next-generation free trade agreements (FTAs).

The Ministry of Industry and Trade is focusing on improving provinces’ capabilities in helping local businesses take advantage of free trade agreements such as the UKVFTA and EVFTA, including by issuing an FTA Index by the end of 2023.

Vietnam is in dire need of qualified personnel to implement new generation Free Trade Agreements (FTAs), heard a conference.

The free trade agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU) has made important contributions to two-way trade between Vietnam and members of the union, representatives from the two sides said at a recent meeting.

Just a few months after it came into being, the Regional Comprehensive Economic Partnership has decided to expand its membership, with Vietnam expected to be a big trade beneficiary.

The VN-EU Free Trade Agreement (EVFTA) has been a milestone during the 30-year relationship between the Southeast Asian country and the European Union, ushering in a new era of bilateral cooperation and development.

Since its national establishment in September 1945 and the country’s opening doors to the world economy 37 years ago, Vietnam has reaped significant economic bonanzas from a large network of economic links, including free trade agreements.

Vietnam’s exports have gained tens of billions of USD each year from free trade agreements (FTAs) that Vietnam is a signatory, the Ministry of Industry and Trade (MoIT) revealed.

Vietnam and Israel will soon complete related procedures to kick-start the implementation of the recently signed free trade agreement (VIFTA) between the two countries.

Experts say the State Bank of Vietnam (SBV) is expected to cut interest rates further to rates seen during the pandemic. However, the effectiveness of the cut is unclear.

Vietnam is the only country which has signed FTAs with all major economic partners namely the U.S., Japan, China, the EU, South Korea , the UK and Russia.

Some developed countries have installed new technical barriers, such as requirements on clean energy and low-carbon production. These are the ‘new rules of the game’ which has put Vietnam in an unequal race.

While Vietnam will trigger negotiations on an economic cooperation agreement with the United Arab Emirates, it is also seeking a free trade deal with some South American nations in a bid to amplify trade.

Minister of Industry and Trade Nguyen Hong Dien and Minister of Energy and Infrastructure of the United Arab Emirates (UAE) Suhail bin Mohammed Al Mazrouei

Vietnamese and Australian businesses have been advised to maximise incentives of free trade agreement (FTAs) in a bid to increase investment and ramp up economic and trade co-operation moving forward, according to insiders.

Vietnam and Israel on April 2 announced the conclusion of negotiations for their free trade agreement (FTA), creating a premise for the two countries to sign the deal right this year.