To ensure the effective and synchronized implementation of international commitments, Deputy Prime Minister Bui Thanh Son has signed key decisions clearly assigning the roles and responsibilities of ministries and sectors in executing three major new-generation free trade agreements (FTAs) to which Vietnam is a member.
Under Prime Ministerial Decisions No. 126/QD-TTg, 127/QD-TTg, and 128/QD-TTg, the Ministry of Industry and Trade (MoIT) will take the lead in overseeing the EU-Vietnam Free Trade Agreement (EVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the UK-Vietnam Free Trade Agreement (UKVFTA).
In this capacity, the ministry is tasked with coordinating implementation efforts across various government bodies, synthesizing progress reports for the Prime Minister, and managing technical assistance proposals from international partners.
The MoIT will also represent Vietnam in various committees and working groups, particularly concerning emerging issues within the CPTPP framework.
To ensure a deep and comprehensive implementation of the agreements, the government has detailed specific responsibilities for various ministries across the different chapters of each agreement.
For the EVFTA, the coordination is designed to maximize benefits from the European market, with the MoIT handling trade remedies, non-tariff barriers in renewable energy, competition policy, and state-owned enterprises.
Meanwhile, the Ministry of Finance will oversee customs procedures and government procurement, while the Ministry of Science and Technology focuses on technical barriers to trade and industrial property. Agricultural market access and sanitary and phytosanitary measures remain under the purview of the Ministry of Agriculture and Environment.
Regarding the CPTPP, which requires a diverse range of participation, the MoIT is responsible for cross-border services, competition, trade remedies, and dispute settlement.
The Ministry of Finance manages tariffs, customs, and data on state-owned enterprises, while the Ministry of Home Affairs has been assigned to lead labor-related matters.
The implementation framework for the UKVFTA largely follows the structure of the EVFTA, with specific adjustments made to reflect the unique bilateral trade relationship and characteristics between Vietnam and the United Kingdom.
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