Uk trade deficit with germany

However, experts and analysts are warning that the multilateral trading system and some regional economic linkages are facing growing difficulties. There have been no significant changes to the Doha Development Agenda on reforming the international trading system, while some organizations and multilateral forums such as the World Trade Organization (WTO), the United Nations (UN), the Asia-Pacific Economic Cooperation (APEC), the Group of Twenty (G20), and the Group of Seven (G7) have faced difficulties in finding a common voice. In addition, the WTO has also failed to deal with important trade-related issues, such as food security, climate change and global trade imbalances. … [Read more...] about Vietnam seeks to steer clear of rivalries threatening global trading system

Germany is an important and reliable partner of Vietnam, and plays as a leading trade partner of Vietnam in the European Union (EU). Trade turnover between HCMC and Germany reached US$2 billion in 2019 and over US$1.4 billion in the first 10 months of 2020 in spite of the COVID-19 pandemic, he added. … [Read more...] about Festival offers unique experiences of Germany

PM Phuc praised the outcomes of the earlier talks between Raab and Vietnamese Deputy PM and Foreign Minister Pham Binh Minh, especially the issuance of the 'Joint Declaration on the Vietnam-UK Strategic Partnership: Forging Ahead for Another 10 years,' which specifies their vision and cooperation orientations in certain fields. … [Read more...] about UK a leading partner of Vietnam in Europe: premier

RCEP is the FTA with the largest market size in the world, accounting for 2.2 billion consumers, or 30 percent of the world's population, with the gross domestic product (GDP) of about US$26.2 trillion, or about 30 percent of global GDP. Its difference from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is that the levels of development of the RCEP member countries are the most diverse, with the participation of both the world's leading economies and underdeveloped countries. The agreement is expected to promote the development of regional and global value chains and promote the economic development of countries in the ASEAN, including Vietnam and partner countries. Besides the advantages, the RCEP might bring competitive pressure on Vietnamese goods and services. Among the countries participating in the RCEP, there are many markets and regions that Vietnam sees the highest trade deficits, such as China, the ASEAN region, and South Korea. On the other hand, … [Read more...] about RCEP to boost development of new supply chains

“As we look to the next 25 years and beyond in our relationship with Vietnam, our goal is to seize upon that momentum and take it to the next level,” Damour said. “With Vietnam’s remarkable growth trajectory, there are tremendous opportunities to deepen our economic and commercial ties across numerous sectors including energy, infrastructure, the digital economy, and manufacturing.” … [Read more...] about US-Vietnam economic ties ready to intensify