US and EU continuing to experience high inflation and slowing real estate markets.

Over the past few days, many Luxembourg news channels have reported on the official visit to Vietnam by Luxembourg Prime Minister Xavier Bettel from May 3-5, assessing that it will contribute to further strengthening the bilateral relationship in the coming time.

Luxembourg is now Vietnam’s third-largest European investor, with capital totaling some $2.6 billion, according to Prime Minister Pham Minh Chinh.

Though the EU-Vietnam Free Trade Agreement will remove import tariffs for many export items into the EU, costs for access to this market are set to increase in addition to strict rules of origin.

The implementation of free trade agreements (FTAs) will continue to prove fruitful for Vietnam in 2023, said Minister of Industry and Trade Nguyen Hong Dien.

Since its World Trade Organisation (WTO) membership in 2007, Vietnam has engaged in more than 500 bilateral and multilateral agreements in various fields, including 7 free trade agreements (FTAs).

The Vietnamese shrimp industry has made it through a tough year of weakening demand and come out afloat, according to business leaders.

Vietnamese exports to the EU in 2022 are expected to touch nearly $48 billion thanks to the strong driving force of the EU-Vietnam Free Trade Agreement (EVFTA).

Although the EU-Vietnam Free Trade Agreement (EVFTA) appears to be a boon for Vietnamese pepper, expanding market reach in Europe requires much more than FTA-induced tariff advantages.

Since the EVFTA came into effect on August 1, 2020, Viet Nam’s two-way trade turnover has achieved impressive growth, despite the severe impact of the COVID-19 pandemic, logistics and supply chain crisis, and geopolitical fluctuations.