Atiga

The ASEAN Trade in Goods Agreement (ATIGA) is a major driving force that is aimed at facilitating trade among country members.

In July, Vietnam imported nearly 4,800 cars worth US$108 million, up 34% month-on-month in volume and 10% in value.

The move would help support the development of local supporting industries, particularly the automobile manufacturing and assembling in the 2019 – 2023 period.

Under the growing impacts of the pandemic, market demand is forecast to plunge, while oversupply and the burden of liquidating inventories would lead to lower selling prices.