China, India, and other countries have lost their “developing countries” status after the Trump Administration updated its Countervailing Duty Law on Feb. 10.

The ratification of the European Union – Vietnam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA) by the European Parliament (EP) has reflected its high valuation of and trust on Vietnam as a comprehensive and important partner in all areas, not only in Asia but the world also.

The EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA), which were ratified by the European Parliament (EP) on February 12, offer significant business opportunities for European enterprises, German Federal Minister for Economic Affairs and Energy Peter Altmaier has said.

The Government is set to issue a decree on the lists of preferential export tariffs and special preferential import tariffs to implement the EU-Vietnam Free Trade Agreement (EVFTA) when the deal comes into force in Vietnam.

The EU-Vietnam trade agreement, the “most modern and ambitious agreement ever concluded between the EU and a developing country”, got Parliament’s backing on Wednesday.

The outbreak of the 2019 novel coronavirus (2019-nCoV) has affected Vietnam’s trade with not only China but also other markets, said Deputy Minister of Industry and Trade Do Thang Hai.

A workshop was held in Toronto city on February 10 to discuss opportunities for Canadian businesses in Vietnam after one year the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect.

Vietnam customs says that it is clamping down on trade origin fraud, which has spiked over the past year, as exporters reroute their goods through the country to take advantage of its free trade agreements (FTAs) and circumvent additional duties.

The European Union is expected to open its markets to Vietnam on Wednesday, while closing its trade doors with Cambodia, rewarding the former for progress on labor guarantees and sanctioning the latter for human rights abuses.

Trade experts agreed at a workshop in Ho Chi Minh that there is great potential for Vietnam to expand exports to the US market, especially consumer and handmade products.