Vietnam serves as chair of the sessions on food safety and sanitary and phytosanitary measures during this time’s negotiations on the upgrade of the ASEAN - China Free Trade Area (ACFTA), expected to further facilitate Vietnam and the Association of Southeast Asian Nations (ASEAN)’s exports to China.

Along with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Vietnamese garment and textile sector also needs a Vietnam-Canada free trade agreement or another bilateral deal to penetrate more deeply into the North American market, according to experts.

New Delhi's latest 'anti-dumping' levies mark a short-sighted measure to protect domestic firms, experts say

The agriculture sector and traders have expressed their high optimism about rice exports this year given high prices and stable markets, helping the grain remain a big foreign currency earner.

With a positive economic outlook, the Ministry of Industry and Trade aims to increase exports by 6 per cent in 2024, running a trade surplus for nine years in a row, estimated at US$15 billion.

Products sourced from various countries, including Vietnam, are expected to increase their market share in the United States amid Chinese exports to this market decreasing.

The tariffs are largely unchanged from the preliminary rates announced in August 2023, with the department implementing dumping rates of 123 percent for Chinese tin imports, 5 percent for Canadian tin imports, and 7 percent for German tin imports. However, the department also opted to set tariffs on some imported steel from South Korea, despite its preliminary determination to not do so.

In a move to shield local manufacturers from the impact of cheap imports, India has initiated a five-year anti-dumping duty on three Chinese products - wheel loaders, gypsum tiles, and industrial laser machinery.