VN is negotiating FTAs with 60 economies

Deputy PM Vuong Dinh Hue at the first session of  the Steering Committee on international integration, Ha Noi, January 11, 2017

Mr. Hue made the point on January 11 while chairing the first session of the Steering Committee on international integration.

The year of 2017 marked the 22th anniversary of Viet Nam’s accession to ASEAN and the 50th founding anniversary of ASEAN. Viet Nam successfully accomplished the APEC 2017 chair with a series of domestic large-scale conferences and initiatives, thus making important contributions to the expansion and economic integration in the Asia-Pacific Region. 

Viet Nam has accelerated international integration by enforcing internationally economic integration, and speeding up institutional reform, economic restructuring, and growth model renovation. 

So far, Viet Nam has ratified 10 bilateral and multilateral FTAs with regional and international partners. Besides, Viet Nam is negotiating the Regional Comprehensive Economic Partnership (RCEP), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and bilateral FTAs with Israel and Cuba. So far, about 60 economies have been negotiating FTAs with Viet Nam including key trade partners holding about 90% of Vietnamese trade turnover. 

Addressing the session, Deputy PM Vuong Dinh Hue said that 2018 was an extreme moment for Viet Nam to enforce its international economic commitments. 

Mr. Hue proposed relevant ministries work with the Ministry of Industry and Trade to make proposals to early finalize negotiations and  signing for other FTAs such as the RCEF, Viet Nam-EFTA, and Viet Nam-Israel FTA; the action program to implement the Government’s Resolution 49 and Resolution 31 to assess the five-year implementation of Resolutions on international integration and economic integration. 

Especially, the Deputy PM noticed the importance of strengthening research on international integration and consulting the Government./.  

By Khanh Phuong