However, despite the disruption this year, the effects of the tariffs remain clear and the long-term shifts that were already occurring before the pandemic are unlikely to be reversed. One of the most obvious impacts is the shift in the Asian manufacturing landscape. Manufacturing of many goods now facing tariffs when imported by the US from China, has moved out of China for manufacturing in neighbouring countries.

WTO members will intensify their work over the coming months on ensuring that standards and regulations do not act as unnecessary obstacles to trade. In their discussions in the Technical Barriers to Trade (TBT) Committee, they will also work on developing guidance on how governments should test and certify products, with the aim of reducing trade barriers.

The socio-economic report drafted by the Ministry of Planning and Investment (MPI) states that with the annual growth rate estimated at over 2 percent, aiming to reach about 3 percent, Vietnam is the country with the highest positive growth rate among five major economies in Southeast Asia (ASEAN-5). And it is one of the 16 most successful emerging economies in the world.

The implementation of commitments in the ASEAN Trade in Goods Agreement (ATIGA) from January 1, 2020 has caused a massive influx of imported sugar, pushing Vietnam's sugar industry into difficulties.

The Embassy of Vietnam in Venezuela recently held a webinar on promoting Vietnam-Venezuela trade, investment and culture-tourism, with the participation of over 50 businesses of the two countries.

Issuing date: 18/09/2020 Issuing authority: Government

Vietnam is likely to be the second best performer of economic recovery in Asia-Pacific, said a report recently released by S&P Global Ratings which revised up GDP growths of regional countries this year in the light of reviving trade and consumption.

In recent months, the U.S. began negotiations for a bilateral free trade agreement with Kenya. These negotiations are aligned with the current administration’s vision for trade reciprocity rather than unilateral trade preference programs.

Despite prolonged Covid-19 break, Thai enterprises have still maintained revenue growth of around 20 percent in Vietnam market because Thai commodities satisfy Vietnamese tastes.

WTO members considered two regional trade agreements (RTAs) at the meeting of the Committee on RTAs on 22 September. Members reviewed the trade in services aspect of the Comprehensive and Enhanced Partnership Agreement between the European Union and Armenia and the Free Trade Agreement between the Southern Common Market (MERCOSUR) and Israel.