Rcep

There could be a shift in trade movement as Vietnam’s trading advantage against China is diminished given the presence of the RCEP.

Vietnam’s participation in a wide range of free trade agreements is set to open new doors for further economic growth, according to Nikkei Asia.

Trading activities were among the highlights of the economy in 2020 with an all-time high trade surplus of US$19.1 billion and contributed to a positive economic growth of 2.91%.

This special shipment will be delivered to Malaysia and Singapore, those among Vietnam’s top 10 rice buyers.

Vietnam trade policy is on right track with record high of US$544-billion turnover in 2020, in which e-commerce is an inevitable trend for local firms to access markets and increase trade value in the coming time.

Vietnam’s strong growth momentum in manufacturing is expected to continue in 2021, supported by growing external demand from trade deals such as the EVFTA, UKVFTA, and RCEP.

The Japanese Ambassador lauded the comprehensive and strategic partnership between Vietnam’s state-run Vietinbank and Japan-based MUFG Bank over the years, which has served as a bridge for two business communities to boost trade and investment cooperation.

With the current minimum wage of US$132-190 per month, Vietnam has been listed in the top three ASEAN countries having the lowest labor cost.

Vietnam continues to be among the world’s most attractive emerging economies, the HSBC Vietnam CEO Tim Evans has said.

In a difficult year amid the Covid-19 pandemic, exports remain a spotlight and lay a foundation for the economy to maintain its growth momentum coming into the next year.