Seminar discusses new opportunities from FTAs in ASEAN region
VOV.VN - The Free Trade Agreements (FTAs) of ASEAN are anticipated to create new opportunities for businesses of member countries , according to details given by insiders at a seminar on December 8 in Ho Chi Minh City.
Delegates pointed out that along with proactively accessing market information and taking advantage of opportunities from FTAs, local businesses should strive to diversify their investments to grasp market trends.
Nguyen Duc Trung, deputy director of the Department of Enterprise Development under the Ministry of Planning and Investment, assessed that economic integration and ASEAN co-operation has offered a wealth of economic development opportunities for Vietnam.
As of February, the total export turnover from the nation to ASEAN reached about US$2.85 billion. However, these achievements failed to fully reflect the potential for developing trade among ASEAN member states.
Vietnamese small and medium-sized enterprises (SMEs) continue to face numerous challenges in terms of seizing upon these opportunities, he said, noting that it is essential to support businesses as they attempt to take full advantage of digital platforms and market search skills through networks within the ASEAN region.
Experts also pointed out new opportunities from the ASEAN Economic Community (AEC) and related FTAs such as the ASEAN Comprehensive Investment Agreement (ACIA), the ASEAN Trade in Goods Agreement (ATIGA), and ASEAN Trade in Services Agreement (ATISA).
According to insiders, although these agreements have put greater competitive pressure on businesses, local firms also see many possibilities to realise opportunities from these agreements if they meet the requirements to enjoy economic incentives.
Long-term growth prospects in the regional bloc are expected to be sustainable despite global uncertainties, experts said, adding that local businesses also need to pay attention to shifting investment to a low-carbon economy, with a specific focus on the digital economy
Businesses are also required to have a long-term digital technology and e-commerce foundation, diversify their choices to minimise risks, and capture the most suitable opportunities.
At the conference, organisers introduced businesses to two new portals at addresses such as https://business.gov.vn and https://aseanaccess.com to support businesses in accessing market information.
