Many Vietnamese garment and textile businesses have received notices from their US and EU partners that they will temporarily stop receiving goods for three weeks to one month.

Policies and regulations must be ready once the Europe-Việt Nam Free Trade Agreement (EVFTA) is approved so Vietnamese enterprises can reap the benefits of the trade pact, experts said on Monday.

Vietnam is increasing the application of trade defence instruments to protect the legitimate rights of domestic producers as the country integrates rapidly into the global economy.

Despite the whirlwind of shutdowns, lockdowns and craziness descending on Thailand at the moment, the departments are still churning out numbers and trying to forecast the way ahead.

Vietnam jumped 23 places from last year to reach 58.8 points, ranking 105th place in the economic freedom index this year.

Amid the information that the EU and the US shut down borders to immigration and medical quarantine and will also halt the import and export of goods, the Ministry of Industry and Trade (MoIT) on March 21 informed that the EU and the US do not apply any measures to restrict the import of goods from Vietnam.

The domestic shrimp industry has not faced a great impact from the novel coronavirus-caused acute respiratory disease (COVID-19) because now this industry is under production and Vietnam will enter its shrimp harvesting crop in August.

Vietnam garment makers are struggling as EU and US buyers cancel orders over the Covid-19 crisis. Revenue falls and staff cuts loom.

Dialogue partners of ASEAN are still committed to signing the Regional Comprehensive Economic Partnership (RCEP) agreement by the end of 2020 as scheduled despite the spreading novel coronavirus SARS-CoV-2, according to the local media.

Deputy Prime Minister and Foreign Minister Pham Binh Minh, in his capacity as ASEAN 2020 Chair, delivered a speech at an ASEAN-EU ministerial teleconference on cooperation in coping with the epidemic on March 20.