Vietnam’s exports face hurdles after “Brexit” vote By VnExpress June 25, 2016 | 12:18 pm GMT+7 VnExpress asked policymakers and experts to examine the consequences that “Brexit” might have on Vietnam’s economy for the foreseeable future. Vietnam is increasingly emerging as the one of the most active trade partners with the European Union (E.U.). The E.U. has become Vietnam’s second largest export market after the U.S. This growth, coupled with the free trade pact between Vietnam and the E.U., known as the EVFTA, is expected to fuel trade relations in the years to come. Vietnam accounted for 19.1 percent of the 201.4 billion euros (nearly $230 billion) in total trade between the EU and members of the Association of Southeast Asian Nations (ASEAN) last year. That figure is up from 15.8 percent in 2014, global news provider Bloomberg cited data from the E.U. delegation in Singapore as saying. Now as the United Kingdom has voted to leave the E.U., the spillovers from this unprecedented decision are likely to beset Vietnam’s exports, say policymakers and economists. Experts said that Vietnam’s exports may be harmed due to Brexit’s direct hit on currency moves, battering the British pound and making Vietnamese exports less… Read full this story
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