Pros and cons of ASEAN trade agreement

With Vietnam set to remove almost all its import tariffs for goods from ASEAN member countries, the absence of experience and money, could mean that small businesses will face difficulties and disadvantages on domestic market. However, experts believe that along with the challenges, domestic enterprises still could benefit from many opportunities.

97% of total import tariff lines will be cut to 0% from 2015 to 2018 according to the ASEAN Trade in Goods Agreement. The removal of tariffs will mean   direct competition in the regional market between Vietnamese and foreign products. This new deal challenges many small businesses due to their limited ability.