PM lays out tasks for FTA implementation

Prime Minister Nguyen Xuan Phuc has set facilitating business and export activities as an urgent task to realise free trade agreements (FTAs) Vietnam has signed.

pm lays out tasks for fta implementation hinh 0

In Directive 38/CT-TTg, PM Phuc, also head of the National Steering Committee on International Integration, assigned ministries and ministerial-level and Government agencies to channel resources into effectuating the FTAs. 

It is also necessary to simplify administrative procedures and develop the “one-stop-shop” mechanism to shorten licensing duration, cut export costs and accelerate customs clearance, he said. 

Apart from amending and scrapping regulations unsuitable with commitments of the FTAs, ministries and agencies should propose measures to the Ministry of Industry and Trade (MoIT) to protect Vietnam’s rights and interests in case the FTAs are violated. 

The regulations of the FTAs should also be made clear to different sectors to avoid misunderstandings, the leader said, adding that intellectuals and experts should be helped to assess the impacts of international integration on Vietnam. 

The competitiveness of sectors should be evaluated to devise plans aiming to promote those with a competitive edge and adjust production of less competitive sectors and businesses, thus maximising benefits generated by the FTAs, the PM said. 

The MoIT was also assigned to work with other ministries, agencies, institutes, associations and the Vietnam Chamber of Commerce and Industry (VCCI) to make the best use of incentives offered by FTAs in each sector. The outcomes will serve as a basis to roll out activities helping Vietnamese enterprises take deeper steps into regional value chains. 

PM Phuc also asked the ministry to work on non-tariff measures like technical barriers and trade protection measures allowed in the World Trade Organisation and FTAs to protect the rights of domestic firms in the face of fierce competition with foreign rivals. 

He also suggested the ministry intensify, renovate and diversify trade promotion activities, update product and market information, and expand distribution channels, with attention paid to FTA members. 

The Ministry of Foreign Affairs was urged to monitor regional and international political, security and economic developments, as well as Vietnam’s foreign relations to forecast and propose measures for issues that may affect trade ties between Vietnam and its FTAs partners. 

PM Phuc requested the Ministry of Planning and Investment to partner with other ministries and agencies to review domestic business conditions, making them suitable with relevant international treaties. 

Meanwhile, the Ministry of Science and Technology was asked to increase international scientific and technological studies to apply advances in production, while paying attention to intellectual property protection. 

People’s Committees of cities and provinces need to raise awareness of local firms about international economic integration in general and FTAs in particular. 

The VCCI should strengthen integration capacity and competitiveness of its member businesses, promote ties with foreign counterparts to help its members seek promising partners and expand business networks, and exchange information and experience in FTA implementation with its foreign counterparts, PM Phuc said.


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