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VN considers international trade cooperation as key strategy

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Vietnam hopes to integrate extensively and comprehensively with the world, focusing on international economic integration, said Foreign Ministry’s spokesperson Luong Thanh Nghi on November 8.

Nghi made the statement in response to reporters’ question that in light of Vietnam ’s high ratio of trade turnover with China , does the country want to increase trade ratio with other countries through expanding negotiations for free trade agreements (FTAs) with them.

The spokesperson cited that so far Vietnam has signed FTAs with many partners including the ASEAN as a whole, and joined the association’s FTA with six partners - namely Japan , the Republic of Korea (RoK), China , India , New Zealand and Australia .

Vietnam reached a FTA with Chile and an economic partnership agreement (EPA) with Japan . It is also negotiating FTAs with many other partners such as the Trans-Pacific Partnership (TPP), the Russia-Kazakhstan-Belarus Customs Alliance, the European Union, the European Free Trade Association (EFTA which includes Switzerland, Norway, Liechtenstein and Iceland), and the RoK.

Nghi highlighted that strengthening trade ties with other countries is one of the core basis that helps the country implement its socio-economic development strategy up until 2012.-VNA
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