Vietnam joins 20 FTAs and seeks new trade deals
VOV.VN - Vietnam has joined 20 free trade agreements (FTAs), including 16 FTAs that have already been implemented, heard a conference held on January 6 in Hanoi to review activities and devise orientations for the year ahead by the Ministry of Foreign Affairs.
The country also signed an FTA with the United Arab Emirates (UAE) which is awaiting ratification while conducting negotiations to ink FTAs with Qatar and Saudi Arabia in the near future.
Upon addressing the event, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that amid the trend of trade protectionism emerging in many countries globally, Vietnam has pursued a process of international economic integration, thereby contributing to robust import-export growth.
Statistics compiled by the General Department of Vietnam Customs indicate that Vietnam's total trade turnover exceeded US$786 billion last year, with trade surplus reaching US$24.7 billion for the ninth consecutive year
In 2025, complex geopolitical fluctuations worldwide are anticipated to affect the global economy and trade activities.
In order to achieve the target of trade growth, Vietnam will therefore continue to promote international economic integration by effectively carrying out existing FTAs and proactively participating in multilateral mechanisms such as APEC, ASEM, G7, G20, and WEF.
Simultaneously, the country aims to put the FTA ecosystem into operation and implement the FTA Index to help businesses utilize FTA’s benefits.
Vietnam is poised to record a 12% growth in exports in 2025, Tan said, adding that the Ministry of Industry and Trade will work with relevant agencies to assess the feasibility of negotiating FTAs and agreements on facilitating bilateral and multilateral trade with new potential partners, and expanding Vietnam's free trade network, especially with strategic and potential markets.
