Ministry implements procedures for EVFTA ratification
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).
Once ratified by the Vietnamese National Assembly in May this year, the EVFTA will officially take effect. (Illustrative image. Source: VNA)
Hanoi (VNA) – The Ministry of Industry and Trade has been coordinating withrelevant ministries and departments to complete all necessary procedures forthe ratification of the EU-Vietnam Free Trade Agreement (EVFTA).
Accordingto the ministry, the European Council on March 30 passed a decision to ratifythe EVFTA, which was approved by the European Parliament on February 12.
Thisdecision is the final legal step under the EU’s internal approval procedure,which is expected to pave way for the deal to come into force, the ministrysaid.
Onceratified by the Vietnamese National Assembly in May this year, the deal willofficially take effect, it added.
Underthe agreement, Vietnam will cut 65 percent of import tax on EU commoditiesright after the deal takes effect, while the rest will be erased over a10-year period. Meanwhile, the EU will cut more than 70 percent of tariffs onVietnam's commodities right after the deal takes effect, while the rest will beabolished in the seven subsequent years./.
The European Union – Vietnam Free Trade Agreement (EVFTA) is like an “expressway” connecting Vietnam and Europe that will speed up trade and investment cooperation between the two sides, said experts.
Vietnamese exporters have been advised to make preparations so as to stay ready for orders from Europe when the EU-Vietnam Free Trade Agreement (EVFTA) takes effect and the COVID-19 pandemic is stamped out.
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).
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.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
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.
Once ratified by the Vietnamese National Assembly in May this year, the EVFTA will officially take effect. (Illustrative image. Source: VNA) 
