The World Bank Group and the Australian Government have agreed to extend their strategic partnership in Việt Nam with a commitment of a further AUD5 million (US$3.43 million) to support Việt Nam’s economic recovery and protect the most vulnerable from the negative impacts of the COVID-19 pandemic.

ASEAN and New Zealand reiterated the commitment to further intensify their strategic partnership during the teleconferenced eighth meeting of the ASEAN-New Zealand Joint Cooperation Committee on June 25.

The National Assembly has passed the EU-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement, ushering in a new economic, trade, and investment co-operation outlook for both Vietnam and the EU. Bui Thanh Son, First Deputy Minister of Foreign Affairs, writes about the deals as an important step to realising Vietnam’s Strategy for International Integration until 2020, with a vision to 2030.

It is critical for Viet Nam to focus on removing inconsistencies and overlaps in business regulations to create a favourable climate for enterprises, attendees heard at a conference held by the Viet Nam Chamber of Commerce and Industry (VCCI) on Wednesday in Ha Noi.

In a recent interview with The World & Vietnam Report, Director General of the Legal Department of Vietnam Chamber of Commerce and Industry (VCCI), Mr. Dau Anh Tuan stated that EVFTA has created a new “playing field” for Vietnamese businesses but they must actively learn and adapt to the “rules of the game” to take advantage of it.

World trade fell sharply in the first half of the year, as the COVID-19 pandemic upended the global economy. However, rapid government responses helped temper the contraction, and WTO economists now believe that while trade volumes will register a steep decline in 2020, they are unlikely to reach the worst-case scenario projected in April.

The 10th Meeting on the Regional Comprehensive Economic Partnership (RCEP) can be considered an opportunity for regional countries to affirm that they will soon be able to overcome the impact of the novel coronavirus (COVID-19) pandemic and restore multilateral trade mechanisms.

Since Vietnam moved to apply the ASEAN Single Window mechanism, especially the exchange of electronic certificate of origin (C/O) form D from 2018 to the present, it has been able to save approximately US$ 5.7 million in transaction costs for local businesses The latest information has been released by the General Department of Vietnam Customs.

Up to now, the EU has investigated 14 trade remedies, including six cases of tax evasion investigations related to Vietnam's exports, ranking fifth among the surveyed countries and accounting for 8% of all cases with Vietnamese goods.

The first half of this year saw an overall 15% fall in the exportation of fruit but increases in major, high-end markets. This shows that, despite the difficulties, the local fruit industry still has potential if companies know how to diverse markets to sustain growth.