Vietnam, Cuba end 2nd negotiation round on new trade deal
Vietnam and Cuba made significant progress in their second negotiation round on a new trade deal after the four days of sitting in Hanoi, the Ministry of Industry and Trade (MoIT) said on September 1.
Hanoi (VNA) – Vietnam and Cuba made significant progress in their second negotiation round on a new trade deal after the four days of sitting in Hanoi, the Mini✱stry of Industry and Trade (MoIT) said on September 1.
The Vietnamese delegation was co-headed by Director and Vice Director of the MoIT’s American Market Department, Nguyen Duy Khien and Tran Duy Dong. Meanwhile, Rigoberto Enoa Novo, Director of the Trade Policy with Asia and Oceania Department under the Cuban Ministry of Foreign Trade and Investment led the Cuban delegation.
The two sides reached a consensus on the wording of the agreement, and openly negotiated issues relating to tax incentives.
Accordingly, 90 percent of the tax lines of both sides have been proposed for prompt elimination or reduction, accounting for 99 percent of the two countries’ export turnover to each other.
In the coming time, Vietnam and Cuba will continue refining the wording of the agreement, and the offers of tariff preferences.
The third negotiation round of the agreement will be held in Havana, Cuba in the first quarter of 2017.-VNA
The 55-year diplomatic relations between Vietnam and Cuba (December 2) were highlighted at a ceremony in the Mekong Delta city of Can Tho on December 25.
A delegation from the Cuban Supreme Procuracy, led by its Vice Procurator General Marlen Nidia Fernandes Machado paid a visit to Vietnam to enhance bilateral ties between the two nations’ judiciary bo
President Tran Dai Quang has suggested Vietnam and Cuba expand economic and investment cooperation, especially in the fields of agriculture, tourism, health, education, and pharmaceuticals.
The Vietnam Glass and Ceramics for Construction Corporation (Viglacera) and Cuba’s Geicons Group are set to establish a joint venture producing ceramics sanitary wares and tiles in October.
Vietnamese and Cuban enterprises have been updated on information related to market and investment policy in the two countries at a seminar held in Hanoi on August 30.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
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A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
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PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
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More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Illustrative image (Source: Internet)
