A new trade agreement between Vietnam and Cuba officially came into force earlier this month, and is expected to help bring bilateral economic, trade and investment ties on par with their sound political relationship.
Hanoi (VNA) – A new trade agreement between Vietnamand Cuba officially came into force earlier this month, and is expected to helpbring bilateral economic, trade and investment ties on par with their soundpolitical relationship.
The European-American Market Department underthe Ministry of Industry and Trade said on April 16 that the two countries hadcompleted procedures for the trade deal to take effect on April 1.
The Vietnam-Cuba Trade Agreement, signed inHanoi on November 9, 2018, features 14 chapters which include regulations ontrade in goods, rules of origin, customs management and trade facilitation,technical standards, food safety, and animal and plant quarantine.
Under the pact, the two sides have pledged toeliminate or reduce tariffs on nearly all commodities currently traded betweenthem over the next five years.
The Vietnamese Government recentlyissued Decree No.39/2020/ND-CP on a list of Vietnam’s specialpreferential import tariffs to implement the trade agreement from nowuntil 2023.
Accordingly, import tariffs on 514 items fromCuba, including some types of shrimp, fish, honey and fruit, cement, chromiumore, disinfectants, protective suits and wireless internet devices have beenslashed to zero percent.
For the 49 remaining tariff lines, tax rateswill be cut gradually. Commodities such as sugar and unprocessed tobacco willhave their tariff rates reduced to 15 percent in four years, cigarettes andcigars to 70 percent, and liquor and alcohol to 20 percent.
Vietnam ran a trade surplus of 2.8 billion USD in the first quarter of this year, higher than 1.5 billion USD recorded in the same period last year, despite the growing COVID-19 pandemic in the country’s major export markets, reported the General Statistics Office (GSO).
Vietnam has taken full advantage of the CPTPP to gain strong growth in exports to Canada and Mexico, according to the Ministry of Industry and Trade (MoIT).
The Ministry of Industry and Trade has been coordinating with relevant ministries and departments to complete all necessary procedures for the ratification of the EU-Vietnam Free Trade Agreement (EVFTA).
The Government has recently issued Decree No.39/2020/ND-CP on a list of Vietnam’s special preferential import tariffs to implement the Vietnam – Cuba Free Trade Agreement from now until 2023.
In his recent phone talks with European Commissioner for Trade Phil Hogan, Minister of Industry and Trade Tran Tuan Anh exchanged views on a number of issues related to the European Union – Vietnam Free Trade Agreement (EVFTA) and bilateral cooperation and trade in the context of the raging COVID-19 pandemic.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Cat Lai Port in Ho Chi Minh City (Photo: VNA) 
