Firms advised to capitalise on ASEAN-China, Hong Kong FTAs
Officials, experts and entrepreneurs gathered at a workshop in Hanoi on December 15, discussing measures to help businesses capitalise on the ASEAN-China and ASEAN-Hong Kong Free Trade Agreements.
Hanoi (VNA) – Officials, experts and entrepreneurs gathered at a workshop in Hanoion December 15, discussing measures to help businesses capitalise on the ASEAN-Chinaand ASEAN-Hong Kong Free Trade Agreements (FTAs).
Nguyen Thi ThuTrang, Director of the Centre for WTO and Economic Integration under theVietnam Chamber of Commerce and Industry (VCCI), briefed the participants onthe two pacts, which would bring new opportunities for economic and tradecooperation between ASEAN member nations and China as well as Hong Kong.
The ASEAN-HongKong Free Trade Agreement (AHKFTA) would facilitate the flow of commodities, movementof experts and investment between the two sides, she noted.
Trang stressedthat the deals bring few benefits in terms of tariffs and investmentconditions, but can help Vietnam increase exports to Hong Kong – an importantgateway to enter the Chinese market.
She said Vietnamesefirms should thoroughly study potential opportunities and benefits of thepacts, and find promote their competitive advantages in comparison with HongKong and Chinese products.
Bui Kim Thuy, arepresentative from the Export and Import Department under the Ministry of Industryand Trade, suggested Vietnamese enterprises update on technical solutions andwarned of risks when dealing contracts with Chinese partners.
In order toenjoy favourable taxes from the FTAs, together with the Government’s efforts tonegotiate tariffs and product origin, businesses must ensure that theirproducts meet origin requirements and step up production activities in the FTAmember economies.-VNA
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Scene at the conference (Photo: VNA) 
