Thanks to achievements in exports, Foreign Direct Investment (FDI), overseas remittances and the business environment, foreign organizations released positive evaluations of the Government’s efforts in improving the business environment. Maintaining the macro-economy, controlling inflation, stabilizing exchange rates and increasing belief in Vietnamese Dong have created a firm foundation for development and gained benefits from trading.

Minister of Industry and Trade Vu Huy Hoang has said negotiations between Vietnam and the European Union (EU) over a bilateral free trade agreement (FTA) are on right track. Hoang was quoted by Vietnam News Agency as saying during his Europe trip this week that the two sides are close to concluding the FTA talks in accordance with an agreement signed by leaders of Vietnam and the European Commission during Vietnamese Prime Minister Nguyen Tan Dung’s visit to Europe in October 2014.

Commerce secretary says this is the best time to conclude the deal to give a boost to textile and leather exports New Delhi: Despite the ongoing turmoil in the euro zone over Greece’s debt crisis, India and the European Union (EU) have set a tentative August date for the resumption of stalled negotiations for a free trade agreement (FTA), with both sides keen to break the deadlock, outgoing commerce secretary Rajeev Kher said on Monday. Kher will retire on 30 June. The government has appointed Rita Teaotia as the new commerce secretary.

THE Canadian government wants to hold exploratory talks with the Philippines for a potential Free Trade Agreement (FTA) within the year, to cover as much ground as possible before an upcoming change in administration. “We want to advance them as much as we can. We’re also conscious the clock is ticking for the Aquino administration,” Canadian Ambassador Neil Reeder told a media briefing at his official residence yesterday.Source: Business World

With Tuesday’s vote in the U.S. Senate to give President Obama fast track negotiating authority on trade deals, the president is likely to be able to help complete the Trans-Pacific Partnership (TPP), with the United States in the deal, by the end of the year. With fast track authority completed, the United States will be positioned to resolve remaining bilateral hurdles with Japan, the key to moving forward with the TPP.

The Vietnam Industry and Trade Information Center (VITIC) under the Ministry of Industry and Trade (MoIT) announced that seafood production in Vietnam stood at 6.8 million tons for 2014, an increase of nearly 40 per cent since 2009, while the industry employs 4.5 million people. Vietnam's export markets have also expanded, with seafood products now sent to 164 countries. The seafood industry made nearly $8 billion last year, putting the country in the Top 5 seafood producers and exporters in the world.

Recently signed free trade agreements (FTA) between Vietnam and South Korea and the Eurasian Economic Union are expected to be good opportunity for export promotion. However there is a long distance from expectation to reality, requiring both authorized agencies and businesses to quickly solve related issues to prevent WTO scenario from reoccurring.

According to the Ministry of Industry and Trade, the TPP will open up opportunities for Vietnam to increase production and expand foreign markets for agricultural products. Once signed, the TPP will become a free trade area with 800 million people, accounting for 30 percent of global trade and nearly 40 percent of global economic output. Joining the TPP will help Vietnam to access investment sources, modernise production, improve product quality, and penetrate further into global production chains.

The European Parliament Committee on Development has produced an Opinion for the Committee on International Trade on the subject of the conclusion of the Protocol Amending the Marrakesh Agreement Establishing the World Trade Organisation.

The free trade agreement between Vietnam and the Eurasian Economic Union (EAEU) comprising Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan was officially signed on May 29 after many years of negotiations, opening a big opportunity to the country’s exports. Vietnam has become the first nation outside the Commonwealth of Independent States that signs free trade agreement with the union. The agreement will abolish 90 percent of tax lines, equivalent to 90 percent of bilateral trade turnover.