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Rubina Ronci
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14 April 2021
Vietnam Asean Free Trade Agreement

This can be done in two ways: first, through more diversified supply partners through larger trading networks and imports of cheaper intermediate goods from partner countries, which should increase the competitiveness of Vietnamese exports. An international agreement entitled: Agreement establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), signed on 27 February 2009 in Cha-am, Phetchaburi, Thailand, has created a free trade area between ASEAN countries, Australia and New Zealand. [13] The ASEAN Free Trade Area (AFTA)[1] is a trade agreement of the Association of Southeast Asian Nations to support local trade and production in all ASEAN countries and facilitate economic integration with regional and international allies. [2] [3] [4] It is one of the largest and most important free trade zones in the world and, with its network of dialogue partners, has promoted some of the world`s largest multilateral forums and blocs, including Asia-Pacific economic cooperation, the East Asia Summit and regional economic partnership. [5] [6] [7] [8] [9] [10] These two agreements have the collective effects that make ASEAN the strategic hub for global markets and manufacturing. With a base of 150 million consumers of the middle class aSEAN, this market, which was then coupled with the 250 million from China and India, represents a middle-class consumer market, with a total free trade of about 650 million people – today. By 2030, in the face of Asia`s growing prosperity and growing dynamism, about 64% of the world`s middle class will be established in Asia, representing 40% of the total global consumption of the middle class. An Introduction to Tax Treaties Across Asia In this issue of Asia Briefing Magazine, we examine the different types of trade and tax agreements that exist between Asian nations. These include bilateral investment agreements, bilateral double taxation agreements and free trade agreements that cover all companies directly active in Asia. Vietnam Briefing is produced by Dezan Shira – Associates. The company supports foreign investors throughout Asia from branches around the world, including in Hanoi and Ho Chi Minh City.

Readers can write to vietnam@dezshira.com to get more help in their activities in Vietnam. Once such trade agreements are in place, Vietnam will benefit from the benefits of reduced tariffs both within the ASEAN Economic Community (AEC) and with the EU and the United States to attract exporting companies to products in Vietnam and export them to non-ASEAN partners. The management of THE AFTA is managed by the national customs and trade authorities of each ASEAN member. The ASEAN secretariat is authorized to monitor and ensure compliance with AFTA`s measures, but it does not have the legal authority to enforce them. This has led to inconsistent decisions taken by the ASEAN national authorities. The ASEAN Charter aims to strengthen the capacity of the ASEAN secretariat to ensure consistent implementation of AFTA`s measures. ASEAN has a similar free trade agreement with India, which is being phased in and is reducing tariffs to 90% of all goods traded between ASEAN and India. In 2016, import and export duties on more than 4,000 products will be abolished. This will have a similar effect to that of the free trade agreement with China, as it opens the Indian consumer market to ASEAN manufactured goods.

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