Vietnamese shrimp exports are anticipated to enjoy robust growth this year thanks to an array of advantages from bilateral and multilateral free trade agreements (FTAs), according to the Directorate of Fisheries.
As many as 14 free trade agreements (FTAs) have come into force since the beginning of this year, a factor which has enabled the country to establish links with 52 partners, including leading trading partners.
Local businesses have been advised to diversify their markets to intensify import and export activities this year, alongside maximising the benefits of free trade agreements (FTAs), restructuring export products, developing stronger brands, whilst grasping market information and changes in the policies of importers, according to insiders.
Last year’s export growth of 6.5% can be viewed as a bright spot in the nation’s economic picture, with this growth being attributed to the signing of a number of free trade agreements (FTAs).
The Vietnamese economy looks set to benefit from joining new generation free trade agreements (FTAs) which will have a great impact on the expansion of the local import-export market and new online business models.
The Vietnam-EU Free Trade Agreement (EVFTA), a new-generation free trade agreement between Vietnam and 28 EU member countries, and the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) are two FTAs with the broadest scope and the highest level of commitment Vietnam has ever signed.
Vietnam has plenty of potential huge opportunities for the development of its automobile industry if the country takes full advantage of Industry 4.0, automation and cloud technologies used in manufacturing.
The Vietnamese Government commits to building a more favourable and competitive investment environment towards international standards and in accordance with commitments to high standards the country has made in new-generation free trade agreements (FTAs), said Prime Minister Nguyen Xuan Phuc on October 4.
