Minister of Industry and Trade Tran Tuan Anh (Photo: VNA) Hanoi (VNA) – The Ministry of Industryand Trade (MoIT) will continue its efforts to achieve the National Assembly’starget of total export turnover growing from 7-8 percent and trade deficit beingkept at below 3 percent, Minister Tran Tuan Anh has said.
To that end, it will keep a close watch of market developments in order to rollout the best business and production plans, expand its presence to foreignmarkets, optimise free trade agreements (FTAs), and effectively cope withprotectionism and technical barriers imposed by other countries, the ministertold the Vietnam News Agency in an interview.
Of note, he said, the MoIT will work to build, amend and supplement the legal systemto realise the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP) and promote the signing and ratification of major FTAs,especially the EU-Vietnam FTA (EVFTA), as the two deals will make Vietnam moreattractive to foreign investors.
The ministry will improve its capacity for settling disputes and coping withtrade protectionism, and intensify IT applications and administrative reform,Anh added.
Given uncertainties of the global economy, the Vietnamese Government, the MoITand other ministries and agencies have employed various measures to ease therisks, according to the official.
Due attention has been paid to export market expansion, he elaborated, addingthat apart from the US and China, the EU, the Republic of Korea (RoK), Japanand the Association of Southeast Asian Nations (ASEAN) have also becomeVietnam’s major trade partners.
The MoIT has also stepped up trade promotion to boost production and productconsumption, he said.
Reviewing the ministry’s performance in 2018, Anh said it fulfilled andoverfulfilled targets set by the Government.
In the year, the ministry took the lead in cutting 675 investment and businessconditions, which has created an open environment for investors while improvingthe efficiency of State management, he added.-VNA
VNA
