AsemconnectVietnam - According to the General Statistics Office, Vietnam and the US have recently reached a tariff agreement to reduce the risk of imposing a tax of 46% to 20% on exports from Vietnam and 40% on transit goods, while Vietnam will cut all import taxes on goods from the US to 0%.

This is a positive signal but still contains many potential risks, difficulties and challenges.
In the coming time, the General Statistics Office recommends that Vietnam's import and export activities need to prioritize strategic restructuring towards proactiveness, sustainability and rapid adaptation.
Transparency of supply chain, increasing added value
We need to enhance transparency of the origin of goods, strictly control the supply chain. Promote trade promotion to selectively import raw materials, components, equipment and advanced technology to support domestic enterprises to improve production capacity and increase the value of exported products. At the same time, promote the localization rate, develop supporting industries and encourage domestic enterprises to participate more deeply in the value chain of large FDI corporations.
Diversify markets, make the most of FTAs
Vietnamese enterprises should actively seek and expand to new and potential export markets such as India, the Middle East, South Asia, Eastern Europe, Africa, etc; make the most of the advantages from free trade agreements (FTAs) to increase turnover. Encourage enterprises to disperse their supply chains, reduce dependence on a few markets, and expand cross-border e-commerce to reach more customers.
Strengthen negotiations, trade defense and risk warning
We should to promote dialogue and bilateral negotiations with major partners such as the US, EU, China, etc. to remove trade barriers; enhance businesses' trade defense capacity; guide businesses to work with international lawyers, and prepare complete files and documents and build an early warning database of markets and industries with potential risks.
Flexible and stable exchange rate and interest rate management
We need to continue to proactively, flexibly and stably manage exchange rates and interest rates, creating favorable conditions for export activities and supporting businesses to reduce financial costs.
CK
Source: VITIC/ haiquanonline.com.vn