Britain's Trade Minister Liam Fox - Photo: Reuters Britain is seeking to replicate around 40 EU bilateral trade deals ahead of its exit from the bloc. With just 11 days until Britain is due in law to leave the bloc, the government has yet to win parliament’s backing for its Brexit deal with Brussels. Prime Minister Theresa May has said she will seek a delay to Brexit at a meeting of EU leaders this week but any extension has to be agreed unanimously. If Britain leaves without a deal, existing bilateral trade agreements will cease to apply. “We have just reached agreement with Iceland and Norway to ensure continued access for British businesses to the European Economic Area should we leave the EU without a deal,” Fox said in a statement. “This is one of the largest trade agreements we are party to as a result of our membership of the EU.” The agreement has been initialed and, subject to final legal checks, will be formally signed next week, his … [Read more...] about UK reaches post-Brexit trade agreement with Iceland and Norway
Bilateral trade agreement
Bilateral Cuban agreement inked
Vietnam’s investment and trade ties with Cuba have been fuelled by a bilateral trade agreement, with the Latin American island state promising to open its doors wider to Vietnamese businesses. Party General Secretary, State President Nguyen Phu Trong and Cuban President Miguel Mario Diaz Canel Bermudez, Photo: VNA At the invitation of Party General Secretary, State President Nguyen Phu Trong, and Prime Minister Nguyen Xuan Phuc, President of the Council of State and Council of Ministers of Cuba Miguel Mario Diaz Canel Bermudez paid an official visit last week. The two nations signed a new bilateral trade agreement, which will help increase bilateral trade turnover to $500 million by 2022. Under the deal, Vietnam and Cuba committed to reduce import tariffs for many types of goods of each other, although as yet the specific content of the agreement remains under wraps. Also on this occasion, both countries inked a protocol on financial disbursement and … [Read more...] about Bilateral Cuban agreement inked
Vietnam-Laos cooperation moves towards cross-border trade agreement
Vietnamese Deputy Minister of Industry and Trade Nguyen Cam Tu (left) gives souvenirs on the occasion of the Lao New YearIn a meeting with Lao Vice-Minister of Industry and Commerce Khemmani Pholsena and Minister of Energy and Mines Xulivong Dalavong, Vietnamese Deputy Minister of Industry and Trade Nguyen Cam Tu offered his warmest wishes to all staff in these two sectors on the occasion of the Lao New Year. During their meeting, both sides also exchanged information about ongoing preparations for the signing of the Vietnam-Laos Cross-border Trade Agreement. Cross-border trade between the two countries has seen many positive changes in recent years. The market has been expanded and has attracted the participation of numerous businesses. Meanwhile, two-way trade turnover has recorded strong growth. In addition, the two sides have focused on improving mechanisms and policies as well as administrative procedures in order to create a favorable environment for cross-border trade. This has … [Read more...] about Vietnam-Laos cooperation moves towards cross-border trade agreement
Vietnam ratifies trade agreement with Laos
The agreement was signed between the Vietnamese Ministry of Industry and Trade (MOIT) and Lao Ministry of Industry and Commerce (MOIC) in Laos, replacing the 1998 Trade Agreement between the two nations. The new agreement, comprising six chapters and 16 articles, will come in effect once both sides exchange diplomatic notes expressing their consent and confirming the completion of all necessary procedures. Under the agreement, Vietnam and Laos will eliminate tariffs imposed on 95% of the commodities originating from each country. The two sides also agreed on Vietnam’s new preferential tax rates for several special goods from Laos. The bilateral trade agreement is expected to open up more opportunities for trade cooperation and strengthen the traditional ties between Vietnam and Laos.Source VOV News Theo ven.vn … [Read more...] about Vietnam ratifies trade agreement with Laos
EU – Vietnam Free Trade Agreement: Impacts and expectations
Former Minister of Industry and Trade Truong Dinh Tuyen, key expert of the EU - MUTRAP Project speaks at the workshop - Photo: mutrap.org.vn In the context of preparation for the signing and implementation of the Agreement, Central Institute for Economic Management (CIEM), in cooperation with the EU - MUTRAP, organized the workshop entitled "Consultation on potentials impacts of the EU - Vietnam Free Trade Agreement on Vietnam's economy". The workshop was held on November 2nd in Hanoi and on November 28th, 2017 in Ho Chi Minh City. The workshop created a platform for discussion and exchange of opinions and updates on the impacts of the EVFTA on different sectors and on the economy of Vietnam as a whole. Besides, the workshop identified opportunities, directions for actions as well as solutions to deal with challenges to take full advantage of the EVFTA. Opening the workshop, Mr. Phan Duc Hieu, Vice President, Central Institute for Economic Management (CIEM) said "As a comprehensive … [Read more...] about EU – Vietnam Free Trade Agreement: Impacts and expectations