Vietnam: RCEP will not worsen trade deficit

The recently-signed Regional Comprehensive Economic Partnership would not create any shocks in term of tariff liberalisation. - VNA/VNN

HANOI (Vietnam News/ANN): The Regional Comprehensive Economic Partnership (RCEP) would not worsen the trade deficit Vietnam was running with signatory markets, according to the Ministry of Industry and Trade.

Statistics showed that Vietnam ran a trade deficit worth US$5.58 billion with Asean, $27.71 billion with China and $21.37 billion with the Republic of Korea in the first nine months of this year, which triggered concerns the deal might widen the country’s trade deficit figures.