While many people believe that sugarcane farmers will face difficulties after Viet Nam implements the ASEAN Trade In Goods Agreement, there are also some who say it could offer bright prospects.
Viet Nam’s sugar industry is expected to face a great deal of difficulties as the country will tariffs on imported sugar from ASEAN under the ASEAN Trade in Goods Agreement (ATIGA) in 2020.
After stopping car exports to Viet Nam for more than a month, Japanese auto giant Honda Motor suddenly decided to import around 2,000 vehicles from Thailand in early March.
The implementation of tariff reduction of zero per cent under the ASEAN Trade in Goods Agreement (ATIGA) from January 1, is an obsession with the Vietnamese sugar industry.
The tax on imported sugar, as stipulated by the ASEAN Trade in Goods Agreement (ATIGA), will be maintained at 5 per cent from the beginning of this year, instead of zero per cent as previously rumoured.
The establishment of the ASEAN Economic Community (AEC) this year is expected to bring opportunities and challenges for Viet Nam.Vu Nhu Thang, head of the Ministry of Finance''s External Relations Department, spoke the Vietnam News Agency, about the issues.
Vietnamese businesses should be well prepared emotionally and physically
to tap opportunities from the ASEAN Trade in Goods Agreement (ATIGA),
experts said at a dialogue yesterday.
The number of imported cars in the first two months of this year
increased sharply in terms of value and volume, according to the General
Office of Statistics (GSO).
Trade with ASEAN countries remains modest this year, said an expert,
with Viet Nam''s exports to the ASEAN market reaching about US$35
billion, while imports were about $40 billion.
Viet Nam has reduced import duties to 0-5 per cent on more than 10,000
tariff lines, or 98 per cent of the total, in accordance with the ASEAN
Trade in Goods Agreement from 2008, said Deputy Head of National
Committee for International Economic...