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The Incoterms rules are accepted by governments, legal authorities, and practitioners worldwide for the interpretation of most commonly used terms in international trade. They are intended to reduce or remove altogether uncertainties arising from different interpretation of the rules in different countries.As such they are regularly incorporated into sales contracts worldwide.
"This year exports are expected to rise 14.3 percent to 141 billion USD and imports 15.6 percent to 131.4 billion USD, and the strong trade activity development has highlighted the important role of logistics," said the deputy minister.
Vietnam has entered eight bilateral and multilateral economic agreements while another six are under negotiations.