To deploy the development of the FTA Index in Vietnam

To deploy the development of the FTA Index in Vietnam (Internet image) 

The Governmen of Vietnam issued Resolution 93/NQ-CP dated July 5, 2023, on improving the efficiency of international economic integration, promoting rapid and sustainable economic development in the 2023–2030 period.

The common goal when improving the efficiency of international economic integration in Vietnam

Successfully implementing major guidelines and policies set out at the 13th National Party Congress in the context that our country is implementing the 5-year socio-economic development plan 2021–2025 and the socio-economic development strategy for the period 2021–2030, in which the focus is on: Building an independent and self-reliant economy, improving the efficiency of international economic integration; ensuring fast and sustainable economic growth on the basis of macroeconomic stability, scientific and technological development, and innovation; rapid economic recovery, overcoming the negative impacts of the COVID-19 pandemic; proactively integrating comprehensively, extensively, and effectively in order to attract external resources for development, strengthen the linkage of interests with partners, enhance Vietnam's position and prestige in the international arena, and ensure national security.

To deploy the development of the FTA Index in Vietnam

Resolution 93/NQ-CP assigns the Ministry of Industry and Trade of Vietnam to implement the following:

- Implement the development of the FTA Index to create a basis for evaluating the results of FTA implementation in ministries, branches, and localities across the country.

The focal point is to urge the effective implementation of FTAs that Vietnam has participated in, especially the Implementation Plan for new-generation FTAs such as CPTPP, EVFTA, UKVFTA, and RCEP.

- Develop and complete legal documents in the fields of industry and commerce to effectively implement international commitments.

Research and build a new system of policies and laws to create breakthroughs in the development of domestic industries and trade, especially new industries suitable to the development trend of the digital economy and the Fourth Industrial Revolution; enhance competitiveness and capacity to participate in global value chains.

- Effectively implement the Project "Improving the competitiveness of Vietnam's export products to 2020, with a vision to 2030" according to Decision 1137/QD-TTg in 2017 of the Prime Minister, and the Project "Improving capacity on trade remedies in the context of participating in new generation free trade agreements under Decision 1659/QD-TTg 2021 of the Prime Minister.

- Assume the prime responsibility for, and coordinate with relevant ministries, branches, and the Government Negotiating Delegation to study, propose to negotiate, and develop an FTA negotiation plan for the commitments in the field the Ministry is in charge of and submit to the Prime Minister the overall plans on the organization, negotiation, and signing of FTAs as well as the implementation of the signed FTAs; regularly consult with VCCI, associations, and the business community on the negotiation of FTAs that are or will be deployed; and overcome difficulties in the implementation of FTAs.

- Strengthen coordination with ministries, branches, and localities to improve the effectiveness of propaganda activities on international economic integration in the direction of diversity in forms and in-depth coverage of the contents of interest to the business community.

- Continue to organize the meetings of the Intergovernmental Committee, the Joint Committee, and the Trade Sub-Committee, the established agreements and cooperation mechanisms, and negotiate the establishment of the Intergovernmental Committee, the Joint Committee, and the New Trade Sub-Committee with Partner Countries.

More details can be found in Resolution 93/NQ-CP dated July 5, 2023.

Duong Chau Thanh

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