The 2024 FTA Index which assessed the implementation of Free Trade Agreements (FTAs) by localities and businesses last year was announced in Hanoi on April 8 with the presence of Prime Minister Pham Minh Chinh and many other senior officials.

This is the first FTA Index created by the Ministry of Industry and Trade in coordination with relevant ministries and agencies.

The FTA Index is based on four main pillars: FTA dissemination and advocacy; implementation of legal regulations on FTAs; support policies to enhance competitiveness; and the implementation of commitments on sustainable development.

The top 10 localities leading the country in terms of FTA Index score in 2024 are: Ca Mau, Thanh Hoa, Binh Duong, Khanh Hoa, Tra Vinh, Long An, Ha Giang, Bac Lieu, Ninh Binh, and Dien Bien.

To date, Vietnam has signed and implemented 17 FTAs with more than 60 partners on all the five continents.

Addressing the announcing ceremony, Prime Minister Pham Minh Chinh said the FTA Index, based on business surveys across 63 provinces and centrally-run cities nationwide, aims to provide transparent and objective data for the Government, central agencies, and local authorities to guide, monitor, and manage economic integration. It will also serve as a foundation for policy formulation and local development strategies, contributing to sustainable export growth.

PM Chinh stressed that the effective implementation of the FTAs is not only about fulfilling international commitments but also serves as a catalyst for domestic reform, market expansion, and better economic competitiveness.

The government will continue to optimize the FTAs' advantages, strengthen international commitments, expand markets, pursue new trade agreements with potential partners, and diversify markets and supply chains, the PM noted.