The Ministry of Industry and Trade (MoIT) and the Hanoi Department of Industry and Trade have held a two-day conference with a view of helping firms understand more about commitments in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Hanoi (VNA)- The Ministry of Industry and Trade (MoIT) and the Hanoi Department of Industryand Trade have held a two-day conference with a view of helping firmsunderstand more about commitments in the Comprehensiveand Progressive Agreement for Trans-Pacific Partnership (CPTPP).
As part of activities within MoIT’s plan for implementation of the agreementthis year, the July 9-10 event offers a chance for businesses to find solutionsto the difficulties they face on the threshold of deeper integration.
According to ministry figures, less than 40 of Vietnam’s 63 cities and provinceshave trade relations with CPTPP member countries.
Ngo Chung Khanh, Deputy Head of the MoIT’s Multilateral Trade PolicyDepartment, said the CPTPP opens up huge opportunities for Vietnam’s exports butthe country is yet to make full use of them.
Trade between Vietnam and CPTPP member countries hit 77.4billion USD last year, up 3.9 percent year-on-year. Vietnam posted a surplus of1.6 billion USD overall but a deficit of 900 million USD with these countries.
Participants at the conference have already focused on overviews of import and exporttaxes and instructions on how to identify and meet import and export tax commitments,rules of origin, and customs commitments in order to enjoy preferential taxesunder the agreement.
Nguyen Son Tra, Deputy Head of the WTO and Trade Negotiation Division at the MoIT,told the gathering about CPTPP member countries’ import tax commitments.
Member countries have committed to eliminating tariffson about 78-95 percent of the tax lines Vietnam is subject to. For common commodities,the roadmap will take five to ten years. At the end of the roadmap, 98-100 percentof tax lines will have been eliminated.
Many of Vietnam’s key export items to the CPTPP are entitled to zero percenttax rates right after the agreement comes into effect or after three to five years,Tra said.
Participants have also focused discussions on services and investment, especiallythe obligations and basic principles of market opening, removing barriersfacing services and investment, and commitments concerning investment promotionand protection.
The CPTPP, one of the largest trade pacts in the world, covers 13.5 percent ofglobal GDP and a market of about 500 million people. It gathers 11 countries,namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand,Peru, Singapore and Vietnam.
It officially took effect in Vietnam on January 14, 2019./.
Joining new-generation free trade agreements (FTAs) will help Vietnam diversify its economic and trade relations, especially expanding import and export markets, avoiding excessive dependence on a specific region and helping the economy cope better with external fluctuations.
Vietnam exported 560,000 tonnes of rice in January 2020, earning 270.3 million USD, an increase of 12 percent in volume and 39 percent in value month-on-month, according to the General Department of Customs.
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 COVID-19 pandemic has had a serious impact on Vietnam’s economy but it’s also believed to create the conditions to attract more foreign direct investment (FDI) as there have been signs of a switch in capital flows away from China and to ASEAN member countries.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
At the conference (Photo: VNA) 
