Banks are upbeat about the trade finance market in spite of Covid-19-related challenges, according to a report by the International Chamber of Commerce (ICC).

Vietnam must hasten the process of issuing legal documents and institutional reform to implement free trade agreements (FTAs) and take advantage of these trade deals to boost exports, officials have said.

The Asia Media Centre in New Zealand ran an article on July 23 covering the formal elevation of Vietnam-New Zealand ties to a strategic partnership level, expressing its belief in the opportunities and potential of this relationship in the future.

Addressing heads of WTO member delegations for the last time as Chair of the Trade Negotiations Committee, Director-General Roberto Azevêdo emphasized that “keeping markets broadly open to trade” would help build “a post-COVID economic recovery that is strong, sustainable and inclusive”. He told the 20 July meeting that members’ policy choices, including at the WTO, would play an important role in laying the groundwork for a return to growth and job creation.

The Directorate of Fisheries at the Ministry of Agriculture and Rural Development and the Bureau of International Narcotics and Law Enforcement Affairs at the US Department of State signed a memorandum of understanding (MoU) on July 22 in Hanoi on strengthening fishery law enforcement capacity.

Vietnam has enjoyed a trade surplus exceeding US$6 billion since the beginning of this year till mid-July despite the COVID-19 pandemic, according to statistics released by the General Department of Vietnam Customs.

Vietnam should give first priority to implementing and utilising opportunities from free trade agreements (FTA) in the new phase of international economic integration, particularly the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA) and other ASEAN’s FTAs with its partners.

At the 21 July meeting of the Negotiating Group on Rules, heads of WTO delegations said they were ready to start a new phase of discussions on fisheries subsidies after the summer break and to work towards getting an agreement by end-2020.

The COVID-19 pandemic is expected to take its continued toll on the global economy in the second half of the year, but thanks to the disease brought under control in Vietnam, the national economy is projected to grow by 3.8% in 2020.

Vietnam’s Ministry of Industry and Trade (MOIT) has formally decided to impose anti-dumping measures on packaging materials imported from China, Thailand and Malaysia.