Hanoi (VNA) – Vietnam expects the ASEAN-Hong Kong Free Trade Agreement (AHKFTA) to boost the country’s exports of farmproduce, aquatic products and processed food.
Last year,Vietnam exported 7.15 billion USD worth of commodities to Hong Kong (China),down 10.05 percent from a year earlier, according to the General Department ofVietnam Customs.
Fruits and vegetables, paper and paper products were among the few export items that recorded strong growth, while exports of other agricultural products toHong Kong remained relatively low.
Vietnam’sexports of fruits andvegetables to Hong Kong tripled to gain 72.08 million USD, while paper and paper products saw a 2-foldyear-on-year increase to 24.23 million USD.
Last month,the government issued special preferential import tariffs for theimplementation of the AHKFTA for 2019 – 2022.
According tothe Ministry of Planning and Investment’s Foreign Investment Agency, Hong Kongtook the lead among the countries and territories investing in Vietnam in thefirst seven months of 2019 with 5.44 billion USD.
The AHKFTA wasofficially negotiated in 2014 and will take effect from February 20 this year. Theagreement looks to offer more legal certainty and easier market access forgoods flowing between ASEANand Hong Kong.
Under thetrade deal, Brunei, Malaysia, the Philippines and Thailand have agreed to cut customs duties on 85 percent of goods listed on their tariff schedules within 10 years./.
Last year,Vietnam exported 7.15 billion USD worth of commodities to Hong Kong (China),down 10.05 percent from a year earlier, according to the General Department ofVietnam Customs.
Fruits and vegetables, paper and paper products were among the few export items that recorded strong growth, while exports of other agricultural products toHong Kong remained relatively low.
Vietnam’sexports of fruits andvegetables to Hong Kong tripled to gain 72.08 million USD, while paper and paper products saw a 2-foldyear-on-year increase to 24.23 million USD.
Last month,the government issued special preferential import tariffs for theimplementation of the AHKFTA for 2019 – 2022.
According tothe Ministry of Planning and Investment’s Foreign Investment Agency, Hong Kongtook the lead among the countries and territories investing in Vietnam in thefirst seven months of 2019 with 5.44 billion USD.
The AHKFTA wasofficially negotiated in 2014 and will take effect from February 20 this year. Theagreement looks to offer more legal certainty and easier market access forgoods flowing between ASEANand Hong Kong.
Under thetrade deal, Brunei, Malaysia, the Philippines and Thailand have agreed to cut customs duties on 85 percent of goods listed on their tariff schedules within 10 years./.
VNA
