A farmer harvests rice in the Mekong Delta, Vietnam’s primary rice-producing region – PHOTO: TRUNG CHANH
HCMC – The Ministry of Industry and Trade is seeking to make the most of the 17 free trade agreements which Vietnam has signed and accelerate talks on new rice trade pacts with partners in Asia and Latin America, aiming to lift rice exports by 12% this year.
The ministry has issued Notice No. 6193/BCT-TTNN to implement tasks for strengthening economic diplomacy, the Vietnam News Agency reported.
Under the direction of Minister Nguyen Hong Dien, the Foreign Market Development Department will take the lead in coordinating with units inside and outside the ministry to make full use of the 17 existing free trade agreements (FTAs), while also pushing to launch negotiations on new FTAs with potential partners.
In the Americas, potential partners include the Mercosur bloc; in Asia, the Gulf Cooperation Council (GCC), India, and Pakistan; and in Africa, Egypt and the Southern African Customs Union (SACU).
The country is also pushing for talks on a reciprocal tax agreement with the United States, as well as sign rice trade agreements with Indonesia, the Philippines, Malaysia, Singapore, and Brazil.
The Multilateral Trade Policy Department has been tasked with leading and coordinating efforts to conclude FTA negotiations with the EFTA bloc in 2025, while preparing reference documents to launch talks with other partners.
At the same time, the ministry will carry out tasks related to the implementation of major existing FTAs such as the CPTPP, EVFTA, and UKVFTA, and will develop the 2025 FTA Index along with an ecosystem to maximize FTA utilization.
The Vietnam Trade Promotion Agency will work with the nation’s overseas trade offices to organize networking and promotional activities, and to roll out the national trade promotion program with a focus on markets where FTAs are already in place or under negotiation.
The minister requested Vietnam’s overseas trade offices closely monitor local developments, promptly report and propose solutions, while stepping up promotion efforts to expand markets, with the goal of achieving 12% export growth in 2025.
By Binh Duong
