Business owners joined a workshop in Hanoi on May 22 to share their opinions on the opportunities and challenges they will face once Vietnam joins the Regional Comprehensive Economic Partnership (RCEP) by December 2015.

A representative from the Central Institute for Economic Management shared the positive news that farming, industry and construction exporters will be able to access wider markets and they will stand a chance of buying materials at lower costs and joining the global value chain.

However, some voiced concern over the possibility of high tariff ceilings for several kinds of goods, and warned of barriers to a few exporting items.

As Vietnam mainly exports crude materials, it will face a stiff competition with regional rivals which are striving to meet better quality requirements and overcome tax barriers.

Claudio Dordi, chief advisor of the European Trade Policy & Investment Support Project vowed to help Vietnam enter the global trade system and boost agreements with ASEAN and the EU. He said he will help ensure that the country will fully enjoy the fruits of economic development, including comprehensive growth and poverty reduction.

The RCEP is a proposed free trade agreement between ASEAN member states and Australia, China, India, Japan, the Republic of Korea and New Zealand.-VNA