VN spares no effort for economic integration in ASEAN

Photo: VNA

At the meeting, delegates affirmed their determination to establish the ASEAN Economic Community (AEC) at the end of 2015. As of July 2015, ASEAN has launched 91.5% of prioritized measures, greatly affecting trade and investment proposed in the overall plan to establish the AEC.

The Ministers welcomed the establishment of the ASEAN one-door mechanism and the ASEAN Trade Repository (ATR).

Viet Nam is preparing to ink the frame Protocol of the ASEAN one-door mechanism and intends to connect the national one-door customs mechanism with Singapore, Malaysia, Thailand and Indonesia in next September. 

At the meeting, Viet Nam actively discussed with ASEAN nations on measures to complete the establishment of the AEC in 2015 and the overall roadmap to set up the AEC by 2025, focusing on trade promotion to reduce expenditures and increase competitiveness for businesses.

The nation also enhanced initiatives on regional cooperation with Cambodia, Laos, and Myanmar, and those between the Greater Mekong Subregion and Japan, Cambodia, Laos and Myanmar to promote bilateral economic and trade relations.

After 14 years of joining ASEAN, ASEAN has become the top trade partner of Viet Nam. In 2014, Viet Nam’s total export and import turnover with ASEAN attained US$42.12 billion.

On  investment, ASEAN invested in 2,632 valid projects, worth US$54.6 billion, focusing on manufacturing, real estates and construction in Viet Nam.

By Thuy Dung