Over time, two-way trade has grown exponentially, and New Zealand exporters now have better market access thanks to the CPTPP and other trade agreements.

Trade appears to be a key pillar in bilateral relations as both countries are signatories of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Vietnam’s calculation of the localization rate should be consistent with international practices, which are based on the proportion of domestically generated value rather than the parts produced within the country.

2022 would remain to be a favorable year for trade, especially as enterprises have improved their resilience and several economic sectors continue to benefit from CPTPP, EVFTA, and RCEP.

Free trade agreements like CPTPP and EVFTA are driving Vietnam’s trading performance during a difficult economic year.

The fiercer global trade landscape means there is no other way for Vietnam to stay competitive, but to build a legal framework beyond its commitments made in current trade agreements.

The US President is expected to announce his plan on joining the pact at the APEC meeting hosted by New Zealand next week.

Vietnam’s export turnover may expand by 10% this year, exceeding the original target of 4-5% set by the Government.

Vietnam is in a favorable condition to take advantage of free trade agreements (FTA) that the country is a part of, as well as growing global demand in the late-year shopping season.