EVFTA to boost Vietnam’s economy: Japan’s newspaper
Hopes are growing that the EU-Vietnam Free Trade Agreement, which was approved by Vietnam’s National Assembly on June 8, will give a much-needed boost to Vietnam's economy, according to Japan’s Nikkei Asia Review.
Workers piece together clothes at a factory in Ho Chi Minh City. (Photo: Reuters)
Tokyo (VNA) – Hopes are growing that theEU-Vietnam Free Trade Agreement, which was approved by Vietnam’s NationalAssembly on June 8, will give a much-needed boost to Vietnam's economy,according to Japan’s Nikkei Asia Review.
The trade deal has already been ratified by theEU, making Vietnam the second Southeast Asian nation to have such a tradetreaty with the European bloc after Singapore.
The newspaper said it is good news formultinational manufacturers outside EU as well, adding that along Japaneseenterprises, apparel companies and machinery parts look to increase shipmentsfrom Vietnam to Europe.
Once the agreement takes effect, expectedly inearly August, 71 percent of exports from Vietnam to the EU will becomeduty-free, as will 65 percent of EU shipments to Vietnam. The remaining tariffsup to 99 percent will be phased out by Vietnam over 10 years, according to thenewspaper.
Particularly strong growth is expected forapparel and footwear, which account for roughly 20 percent of Vietnam's totalexports, it added./.
It is businesses that decide whether the EU-Vietnam Free Trade Agreement (EVFTA) can bring about economic benefits, heard a seminar in Ho Chi Minh City on June 6.
Lawmakers are scheduled to vote for resolutions ratifying the European Union (EU)-Vietnam Free Trade Agreement (EVFTA), and the EU-Vietnam Investment Protection Agreement (EVIPA) at plenary meetings during the second round of the ninth session of the 14th National Assembly in Hanoi from June 8-13.
The enforcement of the EU-Vietnam Free Trade Agreement (EVFTA) will promote export-import activities, thus bringing direct benefits to the country's logistics industry, experts have said.
The National Assembly started the second phase of the ninth session in Hanoi on June 8, with lawmakers scheduled to vote on resolutions ratifying the European Union (EU)-Vietnam Free Trade Agreement (EVFTA), and the EU-Vietnam Investment Protection Agreement (EVIPA).
The National Assembly passed resolutions ratifying the EU – Vietnam Free Trade Agreement (EVFTA) and Investment Protection Agreement (EVIPA) at its ongoing ninth session in Hanoi on June 8.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
Workers piece together clothes at a factory in Ho Chi Minh City. (Photo: Reuters) 
