Asean india free trade area preferential tariff certificate of origin

Leading economic partner The ASEAN Economic Community (AEC) has entered its fourth year of development since the founding milestone of December 31, 2015, and is striving to realize its Vision to 2025 with initial encouraging results. The AEC has created a relatively synchronous production space, which helps promote the common advantage of the ASEAN region. Goods, services, capital, investment and skilled labor will be freely circulating within ASEAN without suffering any discrimination between the member states. Its intra-bloc economic cooperation efforts with partners have brought ASEAN member states stable economic growth, forecast to reach 4.9 percent in 2019, nearly double the world average. In the 24 years since Vietnam joined the bloc, its members have become the country’s leading economic and trade partners. Compared to 1996, when Vietnam began to participate in the ASEAN Free Trade Area (AFTA), trade between Vietnam and ASEAN has grown by more than 9.5 times from US$5.9 … [Read more...] about Vietnam looks ahead to 2020 Asean Chairmanship

Prime Minister Nguyen Xuan Phuc is leading a high-level delegation of Vietnam to attend the 10th Mekong-Japan Summit in Tokyo and visit Japan from October 8-10. The trip is hoped to help lift bilateral trade to 60 billion USD in 2020. Nhat Tan Bridge - a symbol of the Vietnam-Japan friendship (Source: VNA) Over the past years, Viet Nam-Japan trade relations have grown rapidly, and Japan has always been among the top four trade partners among more than 200 countries and territories exporting to and importing goods from Vietnam. The number of Japanese companies investing in Vietnam has been on the rise along with their investment scale. Economic ties between the two countries are opening more cooperation opportunities in many areas. After 45 years of establishing diplomatic relations, Vietnam and Japan have become increasingly important partners of each other in many fields. Since the two countries upgraded the bilateral relationship to the level of Extensive Strategic … [Read more...] about Vietnam, Japan target 60 billion USD in two-way trade by 2020

The Prime Minister has given instructions to fight against origin fraud and illegal transshipment to protect brands and the prestige of Vietnamese goods. Mai Xuan Thanh, deputy director of the General Department of Customs (GDC), on September 10 said in the face of unpredictable development of the US-China trade war, the agency has deployed measures to prevent foreign goods from transshipping in Vietnam and counterfeiting Vietnamese origin before being exported or consumed domestically. Customs agencies are analyzing statistics, comparing the export turnover with domestic production capability to identify the product items which have had abnormal increases in export turnover. Vietnam is now a member of many FTAs and the memberships bring Vietnamese enterprises great advantages in exporting products because they can enjoy preferential tariffs. Foreign enterprises want to exploit these advantages that Vietnam has by committing origin fraud.  Kim Chi  Vietnam’s … [Read more...] about Vietnam Customs Agency vows to combat origin fraud

JOINT STATEMENT On the State visit to Viet Nam by H.E. Shri. Ram Nath Kovind,(Ha Noi, 20 November 2018) 1. At the invitation of H.E. Mr. Nguyen Phu Trong, President of the Socialist Republic of Viet Nam, H.E. Shri. Ram Nath Kovind, President of the Republic of India and his Spouse, paid a State visit to Viet Nam from 18 - 20 November 2018. The President of India was accompanied by a high-level official delegation, including Minister of State Shri Anantkumar Hegde, Members of Parliament, and a large business delegation. 2. The official welcoming ceremony for the President of India Ram Nath Kovind was solemnly held at the Presidential Palace, Ha Noi, on 20 November 2018. President Nguyen Phu Trong held delegation level talks and hosted a State Banquet in honor of the President of India. President Ram Nath Kovind also met Prime Minister Nguyen Xuan Phuc, President of the National Assembly Nguyen Thi Kim Ngan, and addressed the National Assembly of Viet Nam. President Ram Nath Kovind paid … [Read more...] about Full Joint Statement between VN-India

The Directorate General of Foreign Trade of India said in a notification "Import policy of agarbatti and other odoriferous preparations which operate by burning ...is revised from free to restricted". The decision has made an impact on Vietnam which accounts for 90 percent of India’s agarbatti imports. In the past, each month an agarbatti workshop can sell about 100 tonnes of incense sticks, earning nearly 90,000 USD. However, since early September, many units have faced difficulties in exporting their products. Some of them even considered close-down. Quang Phu Cau commune in Hanoi’s Ung Hoa district has five hamlets with 3,300 agarbatti production units, which mainly export their products to India. The recent move to curb import of agarbatti products from Vietnam has made impacts on the trade village. Vietnam’s Ministry of Industry and Trade said India’s restriction on its import of agarbatti from Vietnam because Vietnamese products are much cheaper than … [Read more...] about India’s import restriction hits Vietnamese agarbatti makers