HA NOI (VNS) — Its "golden population" phase and other specific advantages can help Viet Nam exploit well a slew of free trade agreements (FTAs), but there is zero room for complacency, experts and leading industrialists have warned. They say that the agreements are a double-edged sword that will open the domestic market up to stiff competition local firms are ill-equipped to face. The increased export opportunities also come with the challenge of meeting international standards, they add.

HA NOI  (VNS) — Viet Nam has become the biggest exporter to the United States in the Southeast Asian region with a record trade surplus of almost US$25 billion in 2014, surpassing even Malaysia and Thailand. The two-way trade reached $36.3 billion, of which Viet Nam exported $30.6 billion worth of goods to the US in 2014 while its imports were only $5.7 billion, the US Census Bureau data showed. These figures represented increases of 24 per cent in export and 13.6 per cent in import compared with the previous year.

(Reuters) - A trade deal being negotiated by 12 Pacific Rim nations has reached the endgame, but must be agreed by the middle of the year or face being overtaken by U.S. domestic politics, New Zealand's trade minister said on Thursday. Tim Groser said much of the final shape of the Trans-Pacific-Partnership (TPP) agreement was already understood, but crunch time was approaching to settle the hard issues.

HA NOI (VNS) — Viet Nam imports over 80 per cent of its vegetable, flower and fruit seeds, according to Ha Noi Moi newspaper. Domestic breeding technology remains underdeveloped and is unable to meet production demands. To address the situation, the Ministry of Agriculture and Rural Development said it would evaluate varieties across the nation to determine their strength and weaknesses, with the aim to create high-quality varieties.

NEW DELHI: India will soon initiate the feasibility process to launch negotiations for a free trade agreement with Russia and Peru, a move aimed at enhancing economic ties with these nations, Commerce Secretary Rajeev Kher said today. Kher also said the new foreign trade policy (FTP) would be announced after the Budget, that would give a direction to India’s efforts to enhance engagements with its trading partners.

WASHINGTON, Feb. 26 (Xinhua) -- The United States reached a Cooperation Agreement with the East African Community (EAC), said the Office of the U.S. Trade Representative (USTR) on Thursday. Ambassador Michael Froman hailed the agreement "an important milestone" for Trade Africa, an initiative announced by President Barack Obama during a visit to Africa in 2013 to support greater U. S.-Africa trade and investment, beginning with the EAC.

The World Trade Organization's (WTO) Dispute Settlement Body (DSB) established a panel on February 23, 2015, to study a complaint by the European Union against the United States over alleged tax incentives for the manufacturing of large commercial aircraft.

(Reuters) - The Obama administration is confident lawmakers will warm up to a proposed Pacific free trade deal on the grounds it is a chance for the United States, rather than China, to dictate the rules of Asian trade, a top official said on Thursday. "It's a choice between us writing it and, frankly, China writing it, which I think is very compelling to many members of Congress," Deputy Secretary of Commerce Bruce Andrews said during a call to announce more support for rural exporters, such as by promoting more trade shows and workshops.

The European Parliament (EP) heard reports on the progress of negotiations on the EU-Vietnam Free Trade Agreement (EVFTA) in Brussels on February 24 ahead of the final round of negotiations to take place in Vietnam in March 2015.  Chief Negotiator of the EU Mauro Petriccione noted that as Vietnam is the first developing country to get involved in FTA negotiations with the EU, the EU has taken into consideration Vietnam’s development level and has showed certain flexibility in the negotiation process. 

HA NOI (VNS) — Viet Nam expects the export value for its wooden products to jump to US$7 billion this year, according to the Viet Nam Wood and Forestry Product Association. The association said the export value will be higher than the $6.23 billion reported last year, because global demand for timber and wooden products is predicted to jump this year, while trade agreements that are expected to be signed this year will improve the export prospects for the domestic wooden industry, the Voice of Viet Nam reported.