Trade Agreements Between Philippines And Vietnam

In the area of law enforcement, there was reference to the increasingly transnational and cross-border nature of crime and its perpetrators and the need for agreements on extradition, mutual legal assistance and the transfer of convicted persons was agreed upon. The meeting welcomed the Commission, which raises reciprocal concerns in the fishing sector, and insisted that a meeting be convened between the fishing associations of the Philippines and Vietnam under the aegis of the Joint Committee for Fisheries Cooperation. It was also agreed to consider the establishment of a cooperation mechanism, including the establishment of an emergency call number, to prevent and address illegal, unreported and unregulated fishing (INRI fishing). The ASEAN bloc has largely eliminated all import and export taxes on goods traded between them, with the exception of Cambodia, Laos, Myanmar and Vietnam, which continue to impose nominal duties on certain items. But these will also be fully lifted on 31 December 2015, so that the entire region will be duty-free from that date. “The concept of strategic partnership is often misunderstood, as it is equated with a security-based agreement between two states, aimed at certain parties or states. This is an increase in bilateral exchanges between two states, leaving room for bilateral mechanisms for strategic dialogue implemented at the ministerial level. It is comprehensive and encompasses economic, functional and socio-cultural cooperation.┬áIn 2011, Vietnam`s President Truong Tan Sang made an official visit to the Philippines. Mr. Sang and Aquino agreed to improve information exchange and cooperation between their two navies and to set up a hotline between their coastguards. For the period 2011-2016, a second action plan between the Philippines and Vietnam was adopted, covering thirteen areas of cooperation. Vietnam has already negotiated 13 strategic partnership agreements. The first agreement was reached in 2001 with the Russian Federation.

It was followed by agreements with Japan (2006), India (2007), China (2008), South Korea and Spain (2009), the United Kingdom (2010) and Germany (2011). In 2013, Vietnam negotiated five other strategic partnership agreements with Italy, France, Indonesia, Singapore and Thailand. The ongoing negotiations with the Philippines in Vietnam are a determined diplomatic effort to submit Vietnamese relations with other members of the Association of Southeast Asian Nations (ASEAN). China`s rise in the South China Sea in recent years has led to a growing convergence of strategic interests between Manila and Hanoi. For example, in October 2010, Vietnam and the Philippines signed a Memorandum of Understanding on Defence Cooperation. Closer defence and security cooperation between the Philippines and Vietnam, particularly in the maritime area, could encourage the United States to participate in trilateral exercises. Vietnam could try to use the recently launched U.S. surveillance flights from the Philippines.

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. Two-way trade increased impressively, from a low level of $541 million in 2000 to $2.2 billion in 2008. Vietnamese rice exports, which range from 1.5 to 2 billion tonnes per year, are an integral part of trade relations. But between 2008 and 2014, bilateral trade increased by only $2.8 billion. In January of this year, the two foreign ministers agreed to reactivate a subcommittee on bilateral trade cooperation to develop measures to increase trade in both directions to $3 billion by 2016.