Tokyo (VNA) – Japan reiterated its support for the central role of the Association of Southeast Asian Nations (ASEAN) in the regional architecture at the 33rd ASEAN-Japan Forum held in Tokyo on June 13. The annual deputy ministerial forum, part of the ASEAN-Japan dialogue relations, aimed to review bilateral cooperation and discuss measures for enhancing their strategic partnership. The ASEAN countries and Japan applauded the outcomes in their strategic partnership and cooperation through the implementation of the 2017 Revised Implementation Plan of the Vision Statement on ASEAN-Japans Friendship and Cooperation. Japan is currently the fourth biggest trade partner and the second largest FDI investor of ASEAN. Japan affirmed that ASEAN is an important partner of the country, and it will continue cooperating with and assisting ASEAN in building its community, enhancing connectivity, and narrowing development gap. In particular, Japan will further cooperate with ASEAN in trade, … [Read more...] about Japan reaffirms support for ASEAN’s centrality in region
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(VEN) - Vietnamese businesses have not taken full advantage of the many benefits provided by trade agreements with Japan, especially in terms of tariff preferences, according to participants at a recent seminar in Ho Chi Minh City. The seminar, sponsored by the Ministry of Industry and Trade, focused on Japanese market information and related import regulations. The Japan-Vietnam Economic Partnership Agreement (JVEPA) and the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP) were both designed to boost business between the two countries. Under VJEPA, in force since October 1, 2009, Vietnam will abolish 90.64 percent of tariff lines by 2026, and Japan will abolish almost 94.53 percent of its tariff lines within 10 years. Japan has committed to reduce its average tax on industrial products – a major Vietnamese import – to 0.4 percent by 2019. Meanwhile, Vietnam’s textile and garment exports to Japan have benefitted from a zero (0) percent tax … [Read more...] about Trade with Japan Vietnamese enterprises enjoy double advantage
Illustrative image (Source: Internet) Bangkok (NNT/VNA) - The Thai Ministry of Commerce continued to penetrate the Japanese market by organising a seminar on the Thai-Japanese Strategic Economic Partnership through the free trade agreement (FTA), seeking to expand trade between both countries. The trade value between the two countries was over 54 billion USD in 2017. At the seminar, the Deputy Minister of Commerce, Chutima Bunyapraphasara, delivered a lecture on trade and investment opportunities on the Thai-Japanese Strategic Economic Partnership. Ms. Chutima said Thailand has currently developed a mechanism for economic cooperation with Japan in terms of trade liberalisation and development of economic cooperation at various levels, namely the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP) and the Japan-Thailand Economic Partnership Agreement (JTEPA). These agreements will allow Thai entrepreneurs to invest in hospitality businesses in Japan. … [Read more...] about Seminar on Thai-Japanese Strategic Economic Partnership through FTA
Workers pile up rice pallets at the Kien Giang Import and Export Company Limited in Kien Giang Province before shipments to regional markets. (Photo: VNA) Hanoi (VNS/VNA) - As 2018 brings newer and bigger free trade agreements (FTAs), Vietnamese enterprises are faced with tough choices. They can either adapt and move up the global supply chain, or stand by while imported goods flood the country’s market. Tran Thanh Hai, Deputy Director of the Ministry of Industry and Trade’s (MoIT) Import-Export Department, told Vietnam News Agency (VNA) that from 2018 onward, 85 percent of Vietnamese exports will be subject to significantly lowered tariff levels of zero to 5 percent. As part of the Government’s policy to increase economic self-reliance and promote sustainable imports and exports, exports of Vietnamese goods to FTA markets grew strongly in 2017, contributing 213.8 billion USD to the year’s turnover of 408 billion USD, per the MoIT’s data. Hai was … [Read more...] about FTAs: boon or bane for businesses?
As 2018 brings newer and bigger free trade agreements (FTAs), Vietnamese enterprises are faced with tough choices. They can either adapt and move up the global supply chain, or stand by while imported goods flood the country’s market. Tran Thanh Hai, Deputy Director of the Ministry of Industry and Trade’s (MoIT) Import-Export Department, told Vietnam News Agency (VNA) that from 2018 onward, 85 per cent of Vietnamese exports will be subject to significantly lowered tariff levels of zero to 5 per cent. As part of the Government’s policy to increase economic self-reliance and promote sustainable imports and exports, exports of Vietnamese goods to FTA markets grew strongly in 2017, contributing US$213.8 billion to the year’s turnover of $408 billion, per the MoIT’s data. Hai was optimistic that Vietnamese businesses will benefit more from bilateral and multilateral FTAs with partner countries such as Hong Kong, Japan and the Republic of Korea (RoK). … [Read more...] about VN’s FTAs: Boon or Bane?
The Hanoitimes - Despite many difficulties in the first few months of 2017, but by the year end, export value of the Vietnam’s textile & garment industry has reached record high, which is expected to continue its growing trend as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will soon come into force. Under the negative impact of the US’s decision in withdrawing from the Trans – Pacific Partnership (TPP), main export products of Vietnam, including textile & apparel products had been under pressure to achieve targets for trade value. However, by the end of 2017, total export value of Vietnam reached US$ 31 billion, up 10% compared to last year’s figure. In which, garment export up to US$ 25.9 billion, an increase of 8.7% year by year; textile export reached US$ 3.5 billion, up 19.9% compared to 2016. These are impressive achievement amidst the unstable surroundings created by the global’s tendency toward … [Read more...] about Vietnam’s textile & garment industry: changed vision for development
According to Deputy Director General of the International Cooperation Department, under the Ministry of Finance Pham Tuan Anh both Vietnam and Japan are members of the Japan-ASEAN Comprehensive Economic Partnership Agreement (AJCEP) and the Vietnam-Japan Economic Partnership Agreement (VJEPA), which were signed and took effect in 2008 and 2009, respectively. Accordingly, Vietnam’s tax commitments under the FTAs have been made after collecting opinions from relevant ministries and agencies and the business community.Pursuant to the tax reduction commitments for 2016-2018 , a number of products imported from Japan into Vietnam will enjoy special preferential import tariffs of 6.2% in 2016, 5.6% in 2017 and 4.2% in 2018 based on a year by year gradual tax reduction. Vietnam and Japan have maintained balanced trade with two-way export-import turnover reaching US$11 billion in the nine-month period, including US$13.41 billion from Vietnam’s imports … [Read more...] about Upward trend of imported goods from Japan, RoK
NDO – At the invitation of Philippine President Rodrigo Duterte, Prime Minister Nguyen Xuan Phuc, heading a Vietnamese delegation, has arrived in Manila for the 31st ASEAN Summit (ASEAN-31) and related summits, including the 20th ASEAN+3 Summit (with China, Japan and the Republic of Korea), the ASEAN+1 Summit (with China, Japan, the Republic of Korea, India, the United States, Canada, the European Union and the United Nations), and the 12th East Asian Summit (EAS). * PM Nguyen Xuan Phuc leaves for 31st ASEAN Summit in Philippines These important events will attract the participation of the leaders of ten ASEAN countries and the association’s key partners, thus wrapping up the ASEAN Chairmanship Year of the Philippines. August 8, 2017 marks the 50th founding anniversary of the Association of Southeast Asian Nations (ASEAN). During the last half century, ASEAN cooperation has achieved a lot of success, making the Association become a comprehensive regional cooperative … [Read more...] about Tightening solidarity for a self-reliant and prosperous ASEAN Community Most Recent News
NDO - Prime Minister Nguyen Xuan Phuc’s visit to Japan and his attendance at the Future of Asia Conference 2017 in Tokyo follows the visits to Vietnam by Japanese Emperor Akihito and Prime Minister Shinzo Abe in the last year. The Vietnam-Japan relationship has been continuously cultivated and strengthened, especially since the two countries established “an extensive strategic partnership for peace and prosperity in Asia” in 2014. The bilateral relationship is now in its finest period, having become increasingly comprehensive and substantive in many respects, with a high level of political trust. The two sides maintain frequent high-level visits and meetings. The world’s largest economy is currently one of Vietnam’s leading economic partners, largest ODA provider, second largest foreign investor, fourth largest trading partner and third largest source of tourists. Vietnam and Japan are working to connect the two economies in a sustainable manner whilst … [Read more...] about Further strengthening Vietnam-Japan extensive strategic partnership Most Recent News
Vietnamese Prime Minister Nguyen Xuan Phuc is scheduled to attend the 31st ASEAN Summit in the Philippines this week.Prime Minister Phuc arrived in Manila on Sunday afternoon in preparation for a series of events including the summit from November 12 to 14.Yesterday evening, the Vietnamese head of state attended a gala dinner marking the 50th anniversary of ASEAN, according to the Vietnam News Agency.The 31st ASEAN Summit was set to commence on Monday morning.Alongside the main event, the Vietnamese premier and his delegation are scheduled to take part in the 20th Meeting of the ASEAN Plus Three, a series of ASEAN meetings including China, Japan, the Republic of Korea, India, the U.S., Canada, the European Union, and the United Nations.He will also attend the East Asia Summit, which includes ASEAN and its eight dialogue partners, including Australia, China, India, Japan, New Zealand, the Republic of Korea, Russia, and the United States.In addition, Prime Minister Phuc will take the … [Read more...] about Vietnamese PM arrives in Philippines for ASEAN summit Info Alert Alert Chia sẻ bài viết qua e-mail