Viet Nam International Economic Integration Forum 2018: Proactive, Pragmatic and Politic Approach

In the morning of December 4 in Ha Noi, the Viet Nam International Economic Integration Forum in 2018 took place with the theme International Economic Integration in the new context of Proactive, Pragmatic and Politic Approaches.

The Forum was organized in the context that Vietnam has made progress in preparing to implement the new generation FTAs, among which the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) was signed in March 2018 and approved by the National Assembly of Viet Nam on November 12, 2018 and would officially take effect on 14 January 2019. Viet Nam and the EU have announced the conclusion of the legal review process of the EVFTA Agreement and agreed to separate the Investment Protection Agreement from FTA in June 2018 in preparation for the signing of these agreements.

Meanwhile, in the world and the region, the economic situation has many complicated changes with the emergence of trade protectionism, the increased trade tension between the US and China, the Brexit process for the UK to leave the EU,... which all are creating an increasing uncertainty, threatening a profound impact on the global economy and trade. These events require Viet Nam to soon have appropriate analysis, forecasting and policy making to minimize negative impacts and proactively provide solutions for the current and subsequent years.

Deputy Prime Minister Vuong Dinh Hue, member of the Politburo, Chairman of the Viet Nam Inter-sectoral Committee on International Integration said: “Although there are a number of factors negatively affecting the multilateral and regional integration situation but the Government of Viet Nam still persists in comprehensive integration policy with a focus on international economic integration. The deeper and more comprehensive integration into the global economy also means that Viet Nam will face with impacts from trend and development from the world and regional economy. It should be considered as an objective issue that requires a proactive and flexible response. Besides, it is necessary to recognize issues in a multi-dimensional way, in both positive and negative aspects, from which to bring the solutions to be rationally handled, suitable to the domestic situation in particular and the world’s economic aspect in general. With that view, international economic integration in the new situation needs to ensure 4 factors: initiative, innovation, practicality and efficiency".

Under the leadership of Deputy Prime Minister Vuong Dinh Hue, the International Economic Integration Forum in 2018 focused on discussing, analyzing and forecasting trends in the world and regional economic situation. Especially, the trend of trade protection and the development of trade relations between the major economies of the world, that can affect the world’s economy in general and Viet Nam’s in particular.

The Forum also assesses aspects related to the implementation of Viet Nam's new generation free trade agreements (CPTPP and EVFTA), issues for institutional reform and market access, thereby to propose solutions to remove difficulties in implementing international economic integration commitments, to exchange key issues in the implementation of policies and action programs on national economic integration.