Tag: FTAs

Along with India, Canada, and China, Vietnam has experienced the fastest average annual export growth from 2019 to 2023.

Trade between Vietnam and CPTPP member countries stood at $88.1 billion in the first ten months of 2022, a year-on-year increase of 19.2 per cent.

Utilization rates down to 32.7 per cent in 2021 from 39.7 per cent in 2017.

The space to take full advantage of new-generation FTAs remains significant if proper solutions are introduced.

At a discussion session on October 27 regarding the results of the socio-economic development plan in 2022 and the proposed plan for 2023, National Assembly (NA) deputies lauded the 2022 results but also expressed concern about high but unsustainable economic growth. They also proposed a host of solutions, such as exploiting the strengths of free trade agreements (FTAs) to expand and diversify export markets.

The Ministry of Finance has said it is developing a Decree on preferential tax rates to implement a series of FTAs in the 2022-2027 period, with some tax lines to come down to 0 per cent under a roadmap. An analyst from the Australian Economic Reform Program (Aus4ReForm) said that its participation in many bilateral and multilateral agreements with major economies in the world means Vietnam has become one of the most open countries in the region and the world.

Vietnam’s process of international economic integration has increased the number of foreign trade remedy cases against its exports. The Ministry of Industry and Trade (MoIT) is therefore developing an action plan to implement a project entitled “Strengthening capacity in trade remedies in the context of participating in new-generation FTAs”.