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sector’s policies and governance institutions on
various subsectors such as taxation, customs,
price management, capital market development
and others. Financial integration has made up
further promotion of international economic
integration and domestic economic reform
through encouraging international trade, sectoral
and regional economic restructuring.
Trade dynamism in integration context
The economic integration has created
opportunities for promoting exports due to
advantages of FTA partners’ market access. The
expansion of FTA negotiation with different
partners is not only helping avoiding heavy
reliance on traditional markets for raw materials
but also diversifying exportingmarkets, especially
to trading advantages with new markets. In 2011,
Viet Nam exported agro-products to nearly 160
countries around the world then this number
increased to almost 240 countries and territories
in 2013. The markets reached over US$ 1 billion of
export increased from 25 of 2012 to 27 of 2013 and
of import markets from13 to 17, respectively. Total
commodity import-export turnover of over US$ 1
billion markets accounted for approximately 90%
of export turnover and 88% of import turnover of
the whole country.
In general, it seems that the growth trend
of importation has increased speedily since the
country’s accession to the WTO. The import
value increased from US$36.8 billion of 2005
to US$128 billion of 2013, mainly made up
by commodity groups of raw material for
processing, manufacturing for export or of what
that is necessary of importation due to inability of
domestic production or be produced but does not
meet the demands such as machine, equipment,
iron and steel products, petroleum, textile and
footwear’s materials and decorating articles,
automobile and its spare parts and accessories. On
goods’ importation by individual FTA, in practice,
the proportion of goods that used certificates of
origin for preferential treatment purpose was
relatively high and always in the trending up over
implementing years. Specifically, the proportion
with form D utilization for exporting to ASEAN
countries increased from about 6% of 2005 to 29%
of 2013 (15% on average for 2005-2013 period).
important integration milestone of Viet Nam since
accessing to the WTO, and has been considered as a
driver to promote foreign investment in Viet Nam,
boost two-way trade between Viet Nam and EU
and the USA and improve institutional mechanism
and policies.
TheAgreements in negotiation process include:
(i) Viet Nam-EFTA (Switzerland, Norway,
Iceland and Liechtenstein) FTA, (ii) Regional
Comprehensive Economic Partnership between
ASEAN and 6 partner countries (RCEP), and (iii)
ASEAN-Hong Kong FTA. In addition to economic
benefits, these FTAs are also contributing to the
enrichment of relations in trade and politics of
Viet Nam with those counterpart countries.
Last year, the Financial sector has actively
participated in financial cooperation activities
of ASEAN, ASEAN+3, APEC, East Asia
Summit (EAS) and G20; aggressively deployed
formulation works of negotiation options, free
trade agreement conclusion options; continued
the revision and conversion of tariff schedules
and issued Circular providing Tariff schedule
for the implementing and just entered FTAs. At
the same time, the activities of external affairs
relation and international financial cooperation
have given strong hands to attraction of direct,
indirect investments from overseas; absorbed
efficiently official development assistance
funding sources and medium and long-terms
capital sources for the country’s development
investments; taken parts in perfection of financial
2,8
billion
people
41
USD
trillion
21
USD
trillion
39%
World population
57%
GDP
47%
World trade
The APEC economy
21 member economy
APEC’main objectives
Liberalization,
open trade and investment
Encourage economic
and technical cooperation
Promote a favorable
business environment
FIGURE 1: BRIEF INFORMATION ABOUT APEC
Source: Ministry of Foreign
