The signing of free trade agreements (FTA)
with the US and other countries will facilitate Vietnam’s trade growth, Prof.
Susan Schwab, former US trade representative, told a seminar in Hanoi on April
19.
Schwab
said this at a seminar on negotiating and signing free trade agreements, which
wa jointly held in Hanoi by the Vietnam's National Assembly (NA) External
Relations Committee and the Support for Trade Acceleration Project (STAR)
project under United States Agency for International Development (USAID) in
Vietnam on April 19.
FTA
will help Vietnam shift the import-export structure as applied to the global
supply chain, increase FDI, improve the quality of goods and services, and
create more jobs, said Schwab.
She
pointed to the fact that Vietnam has enjoyed low tariffs on its exports to
other countries after it joined the World trade Organisation (WTO) in 2007.
Vice
Head of the NA External Relations Committee Ngo Duc Manh and the US Ambassador
to Vietnam Davis B. Shear emphasized that globalization and international
economic integration are objective trends which involve more and more nations
and cover all fields.
In this
process, they said, nations have shown their great interest in trade,
considering it a driving force behind their development, as well as promoting
mutual understanding among peoples.
Manh
reiterated Vietnam’s consistent policy of embracing on the international
economic integration on the basis of national independence, self-reliance,
equality and mutual benefit.
Former
Deputy Prime Minister Vu Khoan proposed Vietnam take the opportunities to
compete negotiation and signing of FTA.
The
success of FTA negotiation is also dependent on the direction of the Government
and cooperation between ministries and agencies, he said.
According
to Deputy Minister of Industry and Trade Tran Quoc Khanh, Vietnam has signed
eight FTAs with its partners. He proposed that Vietnam integrate FTA
negotiations into its 2011-2020 socio-economic development strategy and
restructuring of the economy.
VOV
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