DPM attends second VN Int’l Economic Integration Forum
16:36 | 04/12/2018

VGP – Deputy PM Vuong Dinh Hue supposed that Viet Nam needs to promptly release analysis, forecasts and policy response to mitigate negative impacts and actively launch suitable measures to cope with the international and regional economic situations. 

Deputy PM Vuong Dinh Hue attends the second Viet Nam International Economic Integration Forum, Ha Noi, December 4, 2018 - Photo: VGP/Thanh Chung

The Deputy PM made that statement while chairing the second Viet Nam International Economic Integration Forum, which was held on December 4 in Ha Noi with the theme “Viet Nam’s international economic integration in the global new context: proactive, pragmative and politic approach”. 

Speaking at the event, Deputy PM Hue highlighted that Viet Nam has enhanced negotiations and signing new free trade agreements (FTA), contributing to the national socio-economic development, especially the export value of US$239 billion, up 11.2% against in 2017. 

The proportion of making the best use of preferential from markets with FTA reached around 40% compared with 35% of previous years, he said. 

He referred to shortcomings in launching international integration at some localities, lack of connectivity and coordination between Foreign Direct Investment (FDI and domestic firms, low capacity in addressing trade conflicts and inability to take advantages of opportunities brought by the FTA.  

He proposed delegates at the forum discuss and analyze changes in the world and region, especially impacts of the trade protection trend and trade relations between big economies on the world’s economy in general and Viet Nam in particular. 

Delegates at the event also evaluated aspects related to the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Viet Nam Free Trade Agreement (EVFTA), issues on institutional reform and access to market as well as proposed measures and specific actions to effectively launch the international integration in a more effective manner. 

The event, attracting the participation of 400 delegates from the ministries, agencies, embassies, domestic and foreign businesses, was co-organized by the Intersectoral Steering Committee for International Economic Integration, the World Bank and the Australian Embassy in Viet Nam. 

By Thuy Dung

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