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DAILY BUSINESS NEWS FROM VIAN- 01/06/2009  1 June 2009

EU wants to sign free trade agreement with Vietnam EU has proposed Vietnam to set up free trade relation between the two sides with the signing of a bilateral free trade agreement. On May 29, in a press conference to announce reports for 2009 of EU commcercial counsellors, Ambassador, head of delegation of Europe Commission in Vietnam Sean Doyle said, EU recently discussed technically with Vietnam’s Ministry of Industry and Trade on bilateral free trade agreement (FTA) between Vietnam and EU. Sean Doyle said, a FTA with countries in EU will help solve many issues Vietnam’s commerce is facing such as: almost 60% of Vietnam’s exports to EU is imposed import tariff; meanwhile this figure is 50% for Thailand, 21% for Malaysia and 10% for Singapore; in addition, it will also help Vietnam set up a transparent trade mechanism. (Tuoi Tre – May 30)


Banks allowed to mortgage valuable papers in foreign currencies Valuable papers that commercial banks mortgaged to the State Bank of Vietnam (SBV) for loans are not necessarily issued in Vietnamese dong. This is a new point in the amended Circular 11 of the SBV stipulating the SBV’s provision of mortgage on valuable papers to banks. The decision is expected to give greater flexibility to the SBV’s lending in the context of the global economic downturn. The mortgaged valuable papers must be valid at least until the loans reach maturity. Valuable papers must be legally owned by the borrowing bank and can be transferred. (Thong tan xa Viet Nam – May 29, Thoi bao ngan hang – May 29)

Northern Agritrade Fair 2009 to take place in Hanoi From August 20 – 24, Northern Agritrade Fair 2009 will be held at Trade and Economy Transaction Exhibition Fair, No. 2, Hoang Quoc Viet Street, Hanoi. This is a trade promotion as well as an important agricultural stimulation activity which is held annually by National Agriculture and Aquaculture Stimulation Centre in cooperation with Agritrade promotion centre. Within the framework of the fair, organizing board will introduce many activities such as: farmer-bridge exchange, agriculturtal technology stimulation forum, seminar “solutions for good agricultural practice”, agro-product contest, competion of fruits of localities, etc. (Kinh te & Do thi – June 1)


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