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Meanwhile, South Vietnam's free market economy conducted extensive trade with other anti-communist or non-communist countries, such as the US, Canada, France, West Germany, Japan and Thailand. The Southern economy between 1954 and 1975 became increasingly dependent on foreign aid, particularly in the late 60s until the Fall of Saigon .
Vietnam, although a relatively young and small nation, has successfully established trade relations with dozens of countries worldwide. This is especially evident in the number of free trade agreements (FTAs) that the country has signed and is participating in. Being part of the Association of Southeast Asian Nations (ASEAN), economic opportunities for Vietnam expands beyond bilateral trade ...
Anhao Paper Factory, 1961. South Vietnam had a small industrial sector and fell far behind other countries in the region in this respect. [1] Output increased 2.5 to 3 times over the 20 years of the country's existence, but the share in total GDP remained at only around 10%, even dropping to 6% in some years, while the economy was dominated by strong agricultural and service sectors. [1]
This year, the U.S. International Trade Commission renewed anti-dumping duties of 25.76% on frozen farmed shrimp from Vietnam, but duties on shrimp from Thailand, a market economy, are only 5.34%.
Vietnam’s GDP grew by 7.09% in 2024, ahead of government forecasts of 6.5%. Yet Vietnam’s trade surplus with the U.S. could put it at risk of new tariffs.
In November 2004, the Association of Southeast Asian Nations (ASEAN), of which Vietnam is a member, and China announced plans to establish the world's largest free-trade area by 2010. [36] Vietnam became a member of the World Trade Organization (WTO) on January 11, 2007. [36]
Vietnam's large trade surplus with the United States may reignite tensions with Washington in the event of a second Trump presidency, analysts warned, as exports of solar panels and other ...
Closer linkages between trade and general economic planning in the 1980s had mixed effects. Fluctuating commodities prices at home and market-oriented trade with, and investment from, Western countries were too uncertain to plan. Consequently, the Second Five-Year Plan was crippled when hoped-for Western investment failed to materialize.