PM Dung: Focus on economic integration

07-Mar-2015 Intellasia | TBKTSG | 6:00 AM Print This Post

Prime minister Nguyen Tan Dung has emphasized the need for Vietnam to integrate deeper into the world’s economy with a specific focus on the economic aspect.

Vietnam needs to concentrate more on negotiations over new free trade agreements and at the same time make full use of the already-signed FTAs to fuel the nation’s economic growth, Dung told the first meeting of the National Steering Committee for International Integration in Hanoi on Tuesday.

The PM said Vietnam has obtained important results from its integration into the world. These results have contributed to the country’s development, according to a statement released by the government’s office.

International integration has helped Vietnam obtain stable growth and get more support from the international community for national defense and sovereign protection, said Dung, who is also head of the National Steering Committee for International Integration.

It has also made it possible for the country to expand export markets and achieve an annual export growth rate of 18 percent in the past years, create more jobs for local people, and mobilise resources for development.

A highlight of international integration last year was the accelerated talks on some FTAs. The country and its partners signed joint statements on completion and near completion of negotiations over FTAs between Vietnam and the Eurasian Economic Union, the European Union (EVFTA) and South Korea (VKFTA).

The remaining agreements – the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership (RCEP) and the agreement between Vietnam and the European Free Trade Association (EFTA) – are progressing well.

The PM also pointed out a number of ministries, agencies and localities that have yet to attend enough to Vietnam’s integration.


Category: Economy, Vietnam

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