VIETNAM BUSINESS NEWS JANUARY 6

Vietnam issues plan on RCEP implementation Standing Deputy Prime Minister Pham Binh Minh has signed a decision approving a plan on the implementation of the Regional Comprehensive Economic Partnership (RCEP), which became effective from January 1. The plan aims to assign tasks and responsibilities to relevant agencies and organisations, decide on measures related to direction and administration, and other measures to implement this agreement fully and effectively. Signed in November 2020, RCEP brings together 10 ASEAN member states, along with China, Japan, the Republic of Korea, Australia and New Zealand, covering 30 percent of the global gross domestic product (GDP) worth 26.2 trillion USD. It forms a market with 2.2 billion consumers, and becomes the largest free trade area in the world in terms of population. It will eliminate tariffs on as much as 92 percent of goods traded between its signatories eventually, expand market access for investment, harmonise rules and regulations, and strengthen the supply chains within the massive free trade zone. Lang Son calls on exporters to suspend goods transport to border gates Lang Son Province has asked exporters to temporarily stop transporting goods to the northern border gates for export from now until the Lunar New Year… Read full this story

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