Binh Duong companies updated on new free trade agreements
Businesses in Binh Duong province was updated on the EU-Vietnam Free Trade Agreement (EVFTA) and the Trans-Pacific Partnership (TPP) agreement on September 23.
Binh Duong (VNA) 𒁃– Businesses in Binh Duong province was updated on the EU-Vietnam Free Trade Agreement (EVFTA) and the Trans-Pacific Partnership (TPP) agreement on September 23.
The event was also attended by Herb Cochran – Executive Director of the American Chamber of Commerce in Vietnam (Ho Chi Minh City) and representatives from the European Union Delegation to Vietnam.
It aimed to give local agencies and enterprises the latest information about the two agreements and Vietnam’s international economic integration, so they can make effective integration plans.
Herb Cochran provided participants an insight into important contents in the EVFTA and opportunities and challenges it will bring, along with an overall account of the EU market and the Vietnam-EU trade.
He also spoke about difficulties in the TPP ratification and problems related to the origin of apparel and footwear which are main export products of Vietnam.
As a major industrial hub in the south of Vietnam, Binh Duong contributed 21 billion USD to the country’s export revenue of 162.1 billion USD in 2015.
The EVFTA was officially signed on December 2, 2015, after over three years of negotiation. It is expected to come into force from 2018.
Meanwhile, economic ministers of the 12 TPP members signed the deal in New Zealand on February 4, 2016.
The TPP is now undergoing a two-year ratification period in which at least six countries – which account for 85 percent of the 12 nations’ combined gross domestic production – must approve the final text for the deal to be implemented.-VNA
President Tran Dai Quang has asked Slovakia to push for the EU’s signing of the EVFTA and recognition of Vietnam as a market economy soon, thereby boosting bilateral trade and investment.
There’s plenty of room for cooperation between Vietnam and the US despite slow enforcement of the Trans-Pacific Partnership (TPP) agreement, Vietnamese Ambassador to the US Pham Quang Vinh said.
The European – Vietnam Free Trade Agreement (EVFTA) would promote the flow of high-quality investments from the EU into the country with commitments on goods and services market access.
Trade between Vietnam and Mexico is expected to thrive once the Trans-Pacific Partnership (TPP) takes effect, heard a conference on September 13 in Hanoi.
A workshop themed “ EU-Vietnam free trade agreement (EVFTA): New opportunities” took place in Brussels, Belgium on September 14, aiming to propose ways to effectively implement the deal.
The roadmap to restrict the use of petrol-powered vehicles and encourage green ones in such major cities as Hanoi and Ho Chi Minh City is creating a strong boost to the EV market.
The Ministry of Industry and Trade is drafting a scheme on diversifying imported raw material sources for domestic production, with feedback from industry associations and businesses being incorporated into concrete proposals and support policies.
Notably, the hybrid segment recorded the strongest growth, with 7,112 units sold, a 72% year-on-year increase. The figures reflect a shift in consumer preference towards more environmentally friendly vehicles.
The project rolled out 21 pilot models, from goat and pig farming to coffee cultivation and the adoption of agricultural technology, helping farmers beef up production, spruce up livestock facilities, and improve market linkages.
Vietnam is ready to serve as an important gateway for Korean enterprises to enter the Southeast Asian market. Korean firms with experience and advanced technology to engage in energy transition and national infrastructure modernisation, said Party leader To Lam.
Two-way trade between Vietnam and Cambodia topped 7 billion USD in the first seven months of the year, up 16.3% against the same time last year. Vietnam’s exports to Cambodia hit 3.2 billion USD, rising 5.1%, while imports rose 28.1% to 3.8 billion USD.
The event took place within the Vietnam–RoK Economic Forum which is part of the Vietnamese leader’s state visit to the RoK. The documents span areas including energy, digital infrastructure, manufacturing, logistics, tourism, finance, and high-quality personnel training.
According to the Ministry of Agriculture and Environment, in May, June, and July, the country exported 7,745 batches of fresh durians totaling over 207,000 tonnes, more than 10 times higher than in the first four months of the year, as well as 560 batches of frozen durians weighing nearly 16,000 tonnes, up almost 64.3%.
The global bicycle market is projected to reach 69 billion USD by 2029, growing at 4.2% annually, according to consultancy and market research company Mordor Intelligence.
After a challenging first quarter, during which many companies recorded losses, the Vietnamese cement market has experienced a remarkable recovery, with several firms unexpectedly reporting substantial profits in the second quarter of 2025.
The Party leader said Vietnam is continuing to improve its institutions, enhance the investment and business environment, and address bottlenecks to unlock resources and push ahead with economic restructuring in tandem with renewing the growth model.
Export value to Thailand reached 33 million USD in the first six months, accounting for 10% of Vietnam’s total squid and octopus export revenue and making Thailand the country’s fourth-largest single export market.
Large-scale projects invested by Korean investors in strategic sectors such as semiconductors and energy are poised to give a strong boost to foreign direct investment (FDI) inflows into Vietnam, creating momentum to attract more high-value projects from global investors.
The recent administrative merger offers a unique opportunity to establish a unified and synchronised logistics system, turning the Southeastern Key Economic Region into a high-performing hub for trade, investment, and marine economy.
Vietnam’s state budget revenue from import-export activities reached over 261.37 trillion (9.97 billion USD) in the first seven months of 2025, equivalent to 63.6% of the annual estimate and 55.6% of the targeted goal, marking a 9.1% increase year-on-year, the Department of Customs reported.
Experts warned that excessive capital concentration in high-risk sectors like real estate and securities, risks of imbalances and non-performing loans could increase.
Demand for durians in the Chinese market is surging, prompting growing interest among importers in seeking supply from Vietnam. With its geographical proximity, short transport time and distinctive flavour, Vietnamese durian is highly regarded for both quality and long-term growth potential.
EVN leaders said CMIS has advanced to version 4.0 over the past two decades, fully digitising operations and customer services while handling data for over 32 million clients and processing hundreds of millions of transactions each year.
With a combined market of over 370 million consumers, Vietnam and Indonesia leverage agricultural strengths: Vietnam leads in rice exports, while Indonesia dominates palm oil and coffee and is advancing toward rice self-sufficiency. Key cooperation opportunities span sustainable fisheries, hi-tech farming, agricultural science innovation, integrated value chains, and market access.
Illustrative image (Photo: VNA)
