Barter is the present and the future of international trade, especially for people who is starting in the import export business. Barter and more: Triangular operations.
Vietnam and Japan forecast a bright future for their trade link, with a strong growth in bilateral trade and investment in 2014 and 2015, local Vietnam News reported Thursday. According to MIT, the Vietnam-Japan Economic Partnership Agreement that took effect in 2009 has reduced tariffs, contributing to an increase in trade.
In the next 10 years, under the agreement, tariffs would gradually decline to zero.
Up to 95 percent of Vietnam's exports to Japan will enjoy tax reductions, while the corresponding figure for Japan will be nearly 88 percent.
Preferential tariffs will be reserved for seafood, farm produce, textiles and garments, steel, chemicals and electronic spare parts, according to quoting sources from the ministry.
Bilateral trade between Vietnam and Japan has risen by an average 20 percent annually since the agreement took effect in 2009, reaching 24.7 billion U.S. dollars in 2012.
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