EVFTA opens new era in Vietnam-EU trade ties: Italian experts The factory of the Far Eastern New Apparel Vietnam company in Bac Dong Phu Industrial Park, Binh Phuoc province The EU-Vietnam Free Trade Agreement (EVFTA) is hoped to usher in a new period in promoting cooperation and mutual economic development between the two sides as it comes into effect in mid-2019, according to Italian experts. In a recent interview granted to Vietnam News Agency’s correspondent in Italy, Vietnam’s Honorary Consul in Turin Sandra Scagliotti and Chairman of the Italy-Vietnam Chamber of Commerce Fulvio Albano stressed that the new-generation agreement may mark the beginning of a new era in trade relations between Vietnam and the EU. Negotiations and the legal review have been completed for both the free trade agreement and the one on investment protection. The EVFTA process is now awaiting the Council of Europe and the European Parliament to sign and ratify it. The agreement … [Read more...] about BUSINESS NEWS IN BRIEF 22/1
What to expect 34 weeks
China says it wants to resolve differences with U.S. “on equal footing”
China says it wants to resolve differences with U.S. "on equal footing"The Saigon Times Daily U.S. Secretary of State Mike Pompeo and China's Foreign Minister Wang Yi smile before their bilateral meeting at the 51st Association of Southeast Asian Nations (ASEAN) in Singapore, August 3, 2018 – PHOTO: REUTERS SINGAPORE (REUTERS) - China is willing to resolve differences with the United States on an equal footing, the Chinese government's top diplomat said on Friday after meeting U.S. Secretary of State Mike Pompeo, but added they did not address their trade war too specifically. U.S. President Donald Trump on Wednesday instructed his trade officials to look at increasing tariffs to 25% from 10% on US$200 billion in Chinese imports into the United States. Trump, who has accused China and others of exploiting the United States in global trade, has demanded that Beijing make a host of concessions to avoid the new duties, which could be imposed in the weeks after a comment … [Read more...] about China says it wants to resolve differences with U.S. “on equal footing”
Trump threatens to raise tariffs on Chinese goods to 25pc, up from 10pc
The United States may jack up the tariff rate on the next US$200 billion in Chinese imports it plans to target as it pressures Beijing to reform its trade practices, US officials said on Wednesday (Aug 1). President Donald Trump has asked the US Trade Representative to consider increasing the proposed tariffs on Chinese imports as part of a plan to pressure Beijing into reforming its trade practices. (AFP Photo) President Donald Trump asked the US Trade Representative to consider increasing the proposed tariffs to 25 per cent from the planned 10 per cent, USTR Robert Lighthizer said. "We have been very clear about the specific changes China should undertake. Regrettably, instead of changing its harmful behavior, China has illegally retaliated against US workers, farmers, ranchers and businesses," Lighthizer said in a statement. Officials however downplayed suggestions the move was intended to compensate for the recent decline in the value of the Chinese currency, which has … [Read more...] about Trump threatens to raise tariffs on Chinese goods to 25pc, up from 10pc
China to pursue more trade with France, EU raises ‘difficult issues’
China told France on Monday it would buy more of its farm produce, hinted at future Airbus purchases and pledged to work on market access, shoring up its trade ties with Europe amid the increasing danger of a tariff war with the United States. Chinese Premier Li Keqiang told French Prime Minister Edouard Philippe that Beijing was planning to buy more planes this year and was ready for further talks with France on obtaining Airbus aircraft. Paris and the European planemaker have been working to salvage a deal since President Emmanuel Macron returned from Beijing empty-handed in January. Industry sources say a blunder by diplomats and some of Macron’s own comments, revealing details of airplane negotiations with top officials, upset the Chinese. “I explained to Mr Prime Minister that in recent years we have bought quite a lot of passenger aircraft, and there needs to be a period to digest this,” Li told a joint news conference. “In spite of this, we are still … [Read more...] about China to pursue more trade with France, EU raises ‘difficult issues’
CPTPP lends momentum to Canadian investment
Vietnam is expected to be hit by a new investment wave from Canada in the near future on the back of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and Vietnam’s improved investment and business climate. PM addresses the Viet Nam-Canada Business Roundtable in Québec city on June 8, 2018 as part of his visit to Canada to attend the expanded G7 Summit. Photo:VGP Key Vietnamese tariff cuts for Canadian exports (Source: http://international.gc.ca) Agricultural goods - Beef (tariffs of up to 31 per cent on fresh, chilled, and frozen beef will be eliminated within two years, and tariffs of up to 34 per cent on all other beef products will be removed within seven years); - Pork (tariffs of up to 31 per cent on fresh, chilled, frozen, and prepared pork products will be annulled within nine years); - Canola (tariffs of 5 per cent on canola seed will be eliminated upon entry into force, while tariffs of up to 20 per cent on canola oil will be … [Read more...] about CPTPP lends momentum to Canadian investment