FTAs under negotiation between Vietnam and 60 world economies

VOV.VN - 2018 is of paramount importance for Vietnam’s roadmap to undertake its international economic integration commitments, said Deputy Prime Minister Vuong Dinh Hue at this year’s first meeting of the Inter-sectoral Steering Committee for International Economic Integration in Hanoi on January 11.

ftas under negotiation between vietnam and 60 world economies  hinh 0

In his speech, the Deputy PM reviewed what Vietnam achieved in 2017, such as the 22nd anniversary of the country’s entry into ASEAN, half century of establishment of regional grouping, and its successful hosting of the APEC Year with a broad range of major conferences and new initiatives, which made significant contributions to expediting the process of cooperation and economic integration across the Asia-Pacific region.

Vietnam accelerated its international integration through negotiations and programs for international economic cooperation while promoting domestic integration in line with its commitments to international economic integration, institutional reform, and economic restructuring based on renewed growth model.

The country has so far ratified 10 bilateral and multilateral free trade agreements (FTAs) with regional and world partners and it is going ahead with negotiations on the Regional Comprehensive Economic Partnership (RCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and bilateral FTAs with Israel and Cuba. 

Around 60 world economies have been conducting negotiations with Vietnam including key trade partners who account for approximately 90% of the Southeast Asian nation’s trade turnover.

Deputy PM Hue called for closer coordination between relevant ministries and sectors in drafting viable plans for early conclusions on negotiations towards the signing of FTAs such as RCEP, Vietnam- European Free Trade Association (EFTA) including the four countries of Switzerland, Norway, Iceland, and Liechtenstein, and Vietnam-Israel FTA.

He underlined the need for them to research international economic integration-related issues to provide advice to the Inter-sectoral Steering Committee, and to fully actualize action programmes and government resolutions so as to review the first five-year implementation of resolutions on international integration and international economic integration after Vietnam has extensively engaged in regional and international organizations and FTAs.

VOV

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