Regarding the impact of the UK-Vietnam Free Trade Agreement (UKVFTA) on goods exports as well as production and business activities of enterprises, Minister of Industry and Trade Tran Tuan Anh said the agreement would bring businesses more opportunities to export to the UK. The value of import tax that Vietnam can save when exporting goods to the UK is estimated at VND3,500 billion each year.

The Chinese economy is expected to usher in 2021 with stronger recovery after surviving a triple whammy of COVID-19, economic slowdown and trade protectionism in an eventful 2020.

The local business community anticipates that the Government will take specific and efficient measures aimed at immediately resolving bottlenecks that hinder their operations, said Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI).

India and Australia can combine complementary skills and expertise to develop new innovations by leveraging Australian expertise with Indian expertise including in data analytics, biotech, and mobile applications

A new report says about 55 percent of foreign direct investment (FDI) businesses in Vietnam recorded losses, of VND131.4 trillion ($5.72 billion), last year.

Compounding the human and health costs, the COVID-19 pandemic has hit Russia’s economy hard, with the economy expected to contract by 4 percent in 2020 before returning to growth between 2 and 3 percent in the following two years.

China has banned timber imports from two more Australian states due to pests, meaning the trade has now been cut from six of the country’s seven states as the conflict between the two trading partners continued.

The free-trade pact would help both sides avoid tariffs, but Britain would still face economic costs from being outside the European Union.

Vietnam is working hard to build a stable and transparent investment and business environment, thus becoming a destination for international human and capital resources, so it would be unreasonable for the country to devaluate its currency, experts have said.

Vietnam’s trade performance continues to stay positive with the trade turnover as of December 15 rising by 4.5% year-on-year, or US$22 billion to $515.27 billion.