Int’l economic integration helps to recover growth

Deputy PM Phạm Gia Khiêm presides over the summing-up session on international economic integration in 2009, Hà Nội, February 2, 2010 - Photo: VGP/Hải Minh

Last year, Việt Nam earned over US $22 billion in FDI and over US $8 billion in ODA.

The country inked many important documents on economic cooperation, including the ASEAN Agreement on Trade in Goods, ASEAN Comprehensive Investment Agreement, ASEAN-Australia-New Zealand Free Trade Agreement, and the ASEAN-China Investment Agreement, creating a favorable legal corridor for international trade activities of the Vietnamese business community.

Negotiations are being conducted for bilateral agreements with different partners, including EU, Republic of Korea, Chile, and the US.

After three years joining in the World Trade Organization (WTO), Việt Nam has effectively realized its commitments and is participating deeper in the Doha Round.

Recently, the Ministry of Finance issued the revised Export Tariff and the Preferential Import List in order to cut down tax under WTO commitments.

In 2010, according to Deputy PM Phạm Gia Khiêm who is the President of CIEI, the focus of the international economic integration should be placed on goals of the ASEAN Presidency, securing the economic connectivity among ASEAN members and highlighting the bloc’s central role in regional economic activities.

Besides, Việt Nam will spare no effort to campaign for the recognition of its market economy while actively taking part in the Doha Round.