Japanese newspaper: EVFTA to lift Vietnam’s post-pandemic growth
Japanese daily Nihon Keizai ran an article on May 20 saying that the EU-Vietnam Free Trade Agreement (EVFTA), to be ratified by Vietnam’s legislature shortly, will benefit not only the two signatories but also businesses from other countries.
Hanoi (VNA) 👍- Japanese daily Nihon Keizai ran an article on May20 saying that the EU-Vietnam Free Trade Agreement (EVFTA), to be ratified by Vietnam’slegislature shortly, will benefit not only the two signatories but also businessesfrom other countries.
It noted that the two will eliminate 99 percent of import tariffs withina decade, which will help Vietnam increase its exports to the bloc, whichaccounts for some 15 percent of the country's total. Japanese enterprises working inVietnam are also expected to benefit from the deal. Asthe world third-largest apparel exporter behind China and Bangladesh, the space for Vietnamto bolster its garment exports remains huge. Several Japanese companies areproducing apparel in Vietnam, notably Fast Retail - the owner of the well-knownUniqlo brand - and also manufacturing auto spare parts and machinery for exportto Europe. The EVFTA will therefore help them expand production and enterEurope more easily. Conversely,the EU ships aircraft and automobiles to Vietnam. With a population of around 97million, the third-largest in Southeast Asia, and with an average income percapita of about 3,500 USD each year, Vietnam is forecast to see growingdomestic consumption. As the first country in Southeast Asia to normalise economic activitiesfollowing the COVID-19 pandemic, the EVFTA is expected to boost Vietnam’sexports in the near future, the paper wrote./.
The World Bank (WB) has issued several recommendations to help Vietnam enhance its international integration and capitalise on the EU-Vietnam Free Trade Agreement (EVFTA), which is expected to come into effect shortly.
Vice President Dang Thi Ngoc Thinh presented the State President’s proposal to the National Assembly for ratifying the EU-Vietnam Free Trade Agreement (EVFTA) at the opening sitting of the 14th National Assembly’s ninth session on May 20.
Vice President Dang Thi Ngoc Thinh presented a proposal from the State President to the National Assembly (NA) for ratifying the EU-Vietnam Investment Protection Agreement (EVIPA), at the ninth session of the 14th NA in Hanoi on May 20.
The EU- Vietnam Free Trade Agreement (EVFTA) and the EU- Vietnam Investment Protection Agreement (EVIPA) between Vietnam and the European Union (EU) are considered comprehensive and high-quality deals with a high level of commitment.
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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.
The new halal cooperation arrangement will streamline halal certification and product assurance processes, making it easier for New Zealand exporters to access the Indonesian market.
Illustrative image (Photo: VNA) 
