(VOVworld) – Participation in free trade agreements (FTA) will generate motivation for businesses and economic growth in the future. The comment was made at an online conference organized by the government web portal on Friday.

According to the Ministry of Industry and Trade, Vietnam has signed 8 FTAs with Chile, Japan, and ASEAN members and partners.  Vietnam is negotiating 7 FTAs including the Trans-Pacific Partnership and the Vietnam-EU Free Trade Agreement.
Deputy Minister of Industry and Trade Tran Quoc Khanh said: “As Vietnam will participate in several FTAs, the government has built a strategy for FTA negotiation and participation. It identifies partners, interests, and challenges. Participation in FTAs must generate a driving force in line with Vietnam’s reform effort with minimum adverse impact. It will also manage the international integration roadmap to avoid overlap.”
Most opinions agreed that global economic integration is the best way for businesses to improve their competitiveness.