Firms must know global trade policyFirms are potentially missing out on key opportunities available beyond their immediate borders by focusing on trade policy developments on a regional scale, and showing lack of awareness when it comes to the broader global trade policy environment, according to an HSBC report. For companies in Viet Nam, only 31 per cent said the EU policy environment has had a positive impact on their business, while 66 per cent saw no impact. Similarly, 74 per cent of respondents said the North-American Free Trade Agreement (NAFTA) has had no impact on their business. The positive impact of initiatives that are ‘closer to home’, however, were more broadly recognised by the survey’s respondents. Meanwhile, 46 per cent of firms in Asia-Pacific said the CPTPP trade deal was relevant for them and 48 per cent expected it to have a positive impact on their business.

Source: VietNamNet News May 26, 2018 01:41 UTC