The outbreak of the 2019 novel coronavirus (2019-nCoV) has affected Vietnam’s trade with not only China but also other markets, said Deputy Minister of Industry and Trade Do Thang Hai.

A workshop was held in Toronto city on February 10 to discuss opportunities for Canadian businesses in Vietnam after one year the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect.

Vietnam customs says that it is clamping down on trade origin fraud, which has spiked over the past year, as exporters reroute their goods through the country to take advantage of its free trade agreements (FTAs) and circumvent additional duties.

The European Union is expected to open its markets to Vietnam on Wednesday, while closing its trade doors with Cambodia, rewarding the former for progress on labor guarantees and sanctioning the latter for human rights abuses.

Trade experts agreed at a workshop in Ho Chi Minh that there is great potential for Vietnam to expand exports to the US market, especially consumer and handmade products.

The Ministry of Finance has decided to exempt tax on the import of five commodity groups needed to fight the novel coronavirus in Vietnam.

Vietnamese authorities have decided to delay the reopening of several border gates with China from Monday to the end of this month.

Vietnam’s garment-textile sector is expected to make breakthroughs in 2020 thanks to the Fourth Industrial Revolution.

The Ministry of Planning and Investment (MPI) has submitted two scenarios for economic growth this year to the government, as the country faces the impact of coronavirus in China, one of Vietnam’s biggest trade partners.

The extended shutdown of Chinese factories from the coronavirus outbreak is upsetting supply chains as manufacturers feel the pinch from shortages of material and travel restrictions on staff.