South Korean President Visits Vietnam To Negotiate Free Trade Agreement

According to the Vietnam import and Export Bureau of the Ministry of industry and commerce, Vietnam has signed 8 free trade agreements, including Vietnam ASEAN FTA, Vietnam - ASEAN + (India, Australia - New Zealand, South Korea, Japan, mainland China) FTA, Vietnam Chile FTA, Vietnam - Japan FTA. The 5 free trade agreements currently under negotiation include Vietnam EU (FTA), Vietnam - European Free Trade Association (EFTA) FTA, Vietnam - South Korea FTA, Vietnam - Russia, Belarus and Kazakh customs union FTA. In addition, negotiations on the trans Pacific Partnership Agreement (TPP) are expected to complete the TPP negotiations at the end of this year (2013).

The European Union negotiating group held in October 21st (2013) in October 21st the "EU free trade agreement business policy" conference held in Hu Zhiming, so far the EU and Vietnam have completed the 4 round of consultations. Both sides expect to conclude bilateral free trade in the fifth round (November this year) negotiations, and reach a consensus, hoping to complete the process of establishing a free trade zone as scheduled in the middle of 2014.

along with south korea President Park Geun hye visited Vietnam, and both sides agreed to sign a free trade agreement in Ming (2014).

In March 28th this year, the first round of negotiations between Vietnam, Russia, Belarus and Kazakh customs union FTA laid the foundation successfully.

According to the assessment of Vietnam's Ministry of Commerce and industry, Vietnamese enterprises have made good use of bilateral multilateral FTA to expand the market and grow year by year. In 2012, the certificate of origin was used for preferential treatment. The amount of export amounted to US $18 billion, accounting for 33.6% of the total export market amount signed by Vietnam. The use of certificate of origin accounted for 76% of exports to South Korea, 33% of Japan and 27% of mainland China.

This (2013) 8 months ago, the certificate of origin was used for preferential treatment, with an export volume of US $15 billion 850 million, representing a 60% growth over the same period in 2012. Using D form (the certificate of origin for export to ASEAN market), the export amount is as high as 3 billion 920 million US dollars, growing by 81%. The export amount of the AK form (the certificate of origin of the South Korean market of Vietnam and the association of Southeast Asian Nations) is as high as 3 billion 700 million US dollars, growing by 67%. The export amount of the AJ form (the certificate of origin of the ASEAN and the Japanese comprehensive economic partnership agreement) is as high as 2 billion 820 million US dollars, growing 43%; the export amount of E form (the preferential export certificate for export to the mainland market of China) is as high as 2 billion 800 million US dollars, growing by 45%.

According to the General Statistics Bureau of Vietnam, the 4 main products Vietnam exported to the EU include shoes, textile Coffee, aquatic products and wood products. In 2012, the EU became Vietnam's largest export market, with an export value of US $20 billion 300 million, up 22.5% from 2011, accounting for 17.7% of the country's total exports. If Vietnam - EU FTA can sign an agreement as scheduled, it is estimated that 90% of Vietnam's goods will go to the EU for tax concessions, with an average annual export growth rate of 4%.

　　 Vietnam? The Ministry of Commerce and industry held that the growth rate of Vietnam's exports to ASEAN was 30.7% and 27% in 2011-2012 years, of which 39.5% and 25% were in Japan, 52% and 17% in mainland China, 52% and 18% in South Korea. In the first 3 quarters of this year, Vietnam's exports achieved fairly good results, with total exports amounting to US $96 billion 270 million, up 25.5% from the same period last year. Exports of goods to all countries grew, among which the export volume of the Americas market amounted to US $20 billion, growing by 19.1%; the US market exports amounted to US $17 billion 100 million and grew by 17.7%; the European market exported US $20 billion 600 million, growing 24.8%; the Asian market exported us $48 billion 400 million and grew by 12.1%; the ASEAN market exports amounted to 14 billion dollars and grew 12.4%; the export value of the African market amounted to 1 billion 490 million dollars and grew up; the export volume of Oceania amounted to US dollars and grew up.

In addition to enjoying tax concessions, FTA also brings many challenges. With the introduction of the new generalized preferential tariff system (GSP) from the EU in 2014, only about 40% of the Vietnamese exports can enjoy GSP concessions. After the signing of TPP, Vietnam's textile industry will have 80% products that can not meet the TPP standard of origin.