Vietnam involved in 16 Free Trade Agreements
Vietnam is one of the most active countries to participate in free trade agreements (FTA) in the world. Up until August 2018, Vietnam has signed 12 FTAs and 4 Agreements are in the negotiation round.
Overview of Vietnam’s FTAs
During the economic development process, Vietnam has signed many Trade Agreements. The earliest FTA of Vietnam was AFTA in 1996, one year after its accession to ASEAN – now replaced by the ASEAN Economic Community (AEC). Then in 2007, Vietnam joined the World Trade Organization (WTO) and officially embarked on the international economic integration.
2015 is a landmark year when Vietnam signed four FTAs with the EU, South Korea, EEC and TPP. By the end of 2016, Vietnam has signed, implemented and are negotiating a total of 16 FTAs; This is a very impressive number for a developing Asian nation. Out of these 16 FTAs, 10 FTAs were implemented (six of which were implemented as ASEAN members, the other four FTAs with Chile, Japan, Korea and EEC); Two FTAs have concluded negotiations: TPP and the Free Trade Agreement between Vietnam and the EU (EVFTA); Four FTAs being negotiated are the Comprehensive Economic Partnership Agreement (RCEP), the ASEAN-Hong Kong FTA, the FTA with Israel and the EFTA. Up to 2017, many foreign investors have plans to invest in Vietnam with a total registered FDI of $ 307.86 billion with 23,737 projects. 59 percent of the projects is in the field of processing and manufacturing.
- ASEAN Free Trade Area
- ASEAN-Australia and New Zealand Free Trade Agreement
- ASEAN-India Comprehensive Economic Cooperation Agreement
- ASEAN-Japan Comprehensive Economic Partnership
- ASEAN-People’s Republic of China Comprehensive Economic Cooperation
- ASEAN-[Republic of] Korea Comprehensive Economic Cooperation Agreement
- Chile-Viet Nam Free Trade Agreement
- Japan-Viet Nam Economic Partnership Agreement
- Viet Nam – Eurasian Economic Union Free Trade Agreement
- [Republic of] Korea-Viet Nam Free Trade Agreement
Signed but not yet in effect
- ASEAN-Hong Kong, China Free Trade Agreement
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership
- Regional Comprehensive Economic Partnership
- ASEAN-Hong Kong Free Trade Agreement
- Viet Nam-European Union Free Trade Agreement
- Viet Nam-Israel Free Trade Agreement