At the event (Photo: VNA) Hanoi (VNA) – The Ministry of Industry and Trade (MoIT) held a forum in Hanoi on October 29 to look at ways to improve the competitiveness of Vietnamese goods and take advantage of new generation trade agreements. Participants said new generation trade agreements could hold the keys to success for many Vietnamese enterprises, especially smaller firms, so they should be making every effort to seize opportunities they offer. According to MoIT Deputy Minister Do Thang Hay, Vietnam is now a member of many new FTAs including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam Free Trade Agreement (EVFTA). “Participating in FTAs has helped the import and export market expand and diversify, and the financial services market become more developed with the participation of foreign investors, so institutional systems and policies must be completed to meet the requirements of integration and the implementation of these commitments,” he said. “Along with the country’s accession to the WTO in 2007, FTAs have contributed to boosting the country’s GDP to more than 300 percent and increased import-export turnover by 350 percent,” he added. Hai said while the COVID-19 pandemic is ongoing and influencing the global economy, commodity retail in Vietnam has emerged as one… Read full this story
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