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Exporters Warned Of Potential Trade Barriers Under EVFTA

Vietnamese businesses should prepare to deal with potential trade barriers that could arise early next year when the historic EU-Việtnam Free Trade Agreement (EVFTA) takes effect. Phạm Bình An, director of the HCM City International Integration Support Centre, said the EVFTA trade deal was expected to increase Việtnam’s GDP by 4.3 per cent by 2030, and exports to the EU could surge by about 44 per cent by 2030. According to ...

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China Aims To Cut Tariffs For Trade Deal

China will cut import tariffs for pharmaceuticals and some high-tech components from next year, a move that comes as Beijing and Washington are trying to complete a phase-one trade deal. Chinese cabinet has approved this plan, which will lower tariffs for all partners on more than 859 types of products to below the rates that most favored nations enjoy. Most favored-nation rates ...

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China, Japan, South Korea Agree To Push For Free-Trade Deal

The trade ministers of China, Japan and South Korea agreed to work towards a regional trade pact and a trilateral free-trade deal. The agreement was reached despite the recent bitter quarrel between Tokyo and Seoul and the uncertainty caused by China’s ongoing trade negotiations with the United States, as well as the threat of North Korea resuming nuclear tests. The ministers did ...

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Nepal’s Trade Deficit Narrows By 8.9 Percent

Nepal’s exports surged by 23.9 per cent in the first quadrimester of 2019-20 fiscal year, while imports fell by 6.9 per cent, as per the Nepal Rastra Bank (NRB). As per ‘Current Macroeconomic and Financial Situation of Nepal’ report of the first four months of the current fiscal unveiled by the central bank , Nepal exported merchandise goods worth Rs 36.28 ...

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Cambodia Plans To Open 6th Trade Center In China Soon

To promote bilateral ties in trade, investment, culture and tourism, Cambodia is all set to open its sixth trade center in China towards the end of December. The new trade center will be located in Kunming, the capital of southwest China’s Yunnan province. Cambodian Deputy Prime Minister Yim Chhay Ly is scheduled to attend the launch ceremony. The existing five Cambodian trade ...

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Russia & China Trade To Set New Records In 2019

Beijing expects trade turnover with Moscow to surpass $110 billion in 2019, setting a new record for trade volume between the two countries, according to a Chinese Ministry of Commerce (MOC) forecast. From January to November, mutual trade between Russia and China stood at 100.32 billion, which is 3.1 percent more than in the same period last year. Sino-Russian trade ...

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Bridge Connecting Russia & China To Boost Trade

The construction of the long-awaited railway bridge between Russia and China will be finished by the end of next year, according to Russian presidential envoy to the Far Eastern Federal District Yury Trutnev. The 2,209-meter-long (1.4 mile) structure linking Russia’s Far East with China’s northernmost Heilongjiang province is expected to take bilateral trade to new highs. The project aims to develop ...

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China Increases Influence In African Continent

It is not a secret that China has recently been actively increasing its influence in the countries of the African continent. China’s interests in Africa become very clear if we take into account the fact that at the beginning of the 21st century, the Chinese economy faced a number of systemic problems associated, first of all, with the excess of ...

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Vietnam Hopes For Chinese Restraint In South China Sea In 2020

Vietnam hopes China would show restraint in the South China Sea in 2020 after a Chinese oil survey vessel and its escorts spent months within Vietnam’s exclusive economic zone in what Hanoi called a blatant violation of its sovereignty. Vietnam, the region’s most forceful challenger of China’s extensive maritime claims to be the busy waterway, will take on the rotating ...

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Pakistan’s Structural Reforms Could Boost Exports

According to reports by the Asian Development Bank, Pakistan can undertake structural reforms to improve its exports and attain a sustainable economic growth rate of above 3.8 per cent. The study — Why Pakistan’s Economic Growth Continues to be Balance of Payments Constrained — says this requires an upgrade in the country’s international specialization profile. Pakistan could also take steps ...

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