Vietnam set to ratify RCEP by November
A fish processing factory in Vietnam (Photo: VNA)
Vietnam is taking final steps and scheduled to complete the ratification of the Regional Comprehensive Economic Partnership (RCEP) by November this year.
So said Deputy Minister of Industry and Trade Tran Quoc Khanh during an interview granted to the Vietnam News Agency on the sidelines of a recent economic ministers’ consultation between ASEAN and dialogue partners.
He noted the theme of Brunei’s ASEAN Chairmanship 2021 as “We Care, We Prepare, We Prosper”, with 13 priorities and initiatives on economic cooperation.
Aside from implementing these initiatives, Vietnam and other ASEAN countries have also actively discussed the continuation of the economic cooperation initiatives proposed by Vietnam as the Chair of the bloc in 2020.
ASEAN countries also agreed to maintain the current market opening commitments relevant to trade and investment and to increase trade facilitation measures, Khanh added.
Deputy Minister of Industry and Trade Tran Quoc Khanh (Photo: VNA)
He held that the RCEP deal is one of the contributions to the success by Vietnam as in the role last year.
Amid the complex COVID-19 pandemic, both ASEAN members and partners hope this agreement will take effect soon, in early 2022, to promote regional trade and investment, thus helping with the post-pandemic economic recovery in the region.
Given this, the RCEP signatories have been carrying out procedures for ratifying the agreement, the official said, noting that Vietnam is set to complete the ratification by November 2021.
The RCEP agreement, gathering the 10 ASEAN member nations and Australia, China, Japan, New Zealand and the Republic of Korea, will make up nearly 30 percent of the world’s gross domestic products and create a market covering nearly one-third of the global population.
It was signed last November and will come into effect 60 days after it is ratified by at least six ASEAN members and three other signatory countries./.
Related News
Wood exports started well
13:26 | 20/04/2024 Import-Export
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Vietnam-China trade reaches over US$ 27 billion
09:29 | 10/04/2024 Import-Export
How more than 6 tons of smuggled gold transported to Vietnam?
07:49 | 05/04/2024 Anti-Smuggling
Latest News
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Tra fish export to UAE jumps 67% in Q1
13:46 | 24/04/2024 Import-Export
Pepper prices continue increase trend
13:44 | 24/04/2024 Import-Export
More News
More efforts needed to maintain export growth to China: Insiders
13:55 | 23/04/2024 Import-Export
It is expected that there are higher orders and revenue in the second quarter from European businesses
09:31 | 23/04/2024 Import-Export
Vietnamese rice prices on the hike
15:08 | 22/04/2024 Import-Export
FDI flow into garment and textile sector bounces back
15:06 | 22/04/2024 Import-Export
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Find ways to a corporation for businesses in industrial parks
10:38 | 22/04/2024 Import-Export
Export turnover of two agricultural product groups grows three-digit
18:10 | 21/04/2024 Import-Export
Early warnings reduce risks in trade defense
18:09 | 21/04/2024 Import-Export
Rubber exports are flourishing, promising potential
17:51 | 20/04/2024 Import-Export
Your care
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Tra fish export to UAE jumps 67% in Q1
13:46 | 24/04/2024 Import-Export
Pepper prices continue increase trend
13:44 | 24/04/2024 Import-Export
More efforts needed to maintain export growth to China: Insiders
13:55 | 23/04/2024 Import-Export