Announcing the FTA Index for 2024

On the afternoon of April 8, Prime Minister Pham Minh Chinh attended the conference to announce the set of indicators to evaluate the implementation results of free trade agreements (FTA Index) in localities in 2024, organized by the Ministry of Industry and Trade . Attending at the provincial bridge were leaders of the Department of Industry and Trade and related departments and branches.

Delegates attending at Cao Bang bridge point.

The FTA Implementation Performance Assessment Index (FTA Index) is a quantitative, objective, comprehensive and systematic tool, built on the basis of a survey of enterprises in 63 provinces and cities nationwide. The FTA Index is a composite score of 4 component indices on a 10-point scale and synthesized into a 40-point scale. The 4 component indices include: The level of access to information about FTAs ​​by enterprises; compliance with domestic legal regulations from FTA commitments; effectiveness of programs and policies to support enterprises in taking advantage of FTAs; implementation of sustainable development commitments at the local level.

Faced with the trend of globalization and increasingly deep international economic integration; increasingly fierce strategic competition and trade wars between major countries, especially the increasing trend of trade protectionism, along with the recent decision of US President Donald Trump to impose reciprocal tariffs from 10% - 49% on goods of all countries when imported into the United States, negatively affecting international trade activities..., Free Trade Agreements (FTAs) have become the main trend, promoting trade exchange between countries.

According to the survey, Ninh Binh is the province with the highest score of 8.3 points, followed by the Top 10 provinces: Quang Binh, Thanh Hoa, Ca Mau, Ha Giang, Quang Ninh, Thai Nguyen, Dien Bien, Long An and Bac Lieu. The provinces outside the Top 10 with scores of 6 or more: Khanh Hoa, Tra Vinh, Tien Giang, Hai Phong, Binh Duong, Ho Chi Minh City, Ben Tre, Ba Ria - Vung Tau, Kien Giang, Phu Yen, Dong Nai, Binh Dinh, Lam Dong, Quang Nam, Binh Thuan, Dak Lak, Can Tho, An Giang.

Speaking at the announcement ceremony, Prime Minister Pham Minh Chinh affirmed that in the context of globalization and increasingly deep international economic integration, Free Trade Agreements (FTAs) have become a mainstream trend to promote trade exchange between countries. These FTAs ​​bring many great benefits to the economy such as promoting export growth, expanding markets, attracting foreign investment, and improving production capacity and competitiveness of Vietnamese enterprises. Commitments to reform and institutional transparency within the FTA framework also create momentum to improve the domestic business environment. Evaluating the results of FTA implementation through this Index is not only for comparison but also a driving force for localities and business communities to effectively implement and optimize opportunities from FTAs ​​to diversify markets, supply chains and export products, contributing to maintaining sustainable export growth momentum and realizing the goal of international economic integration in a practical and effective manner. The implementation of the Index is also one of the measures and the basis for the development strategy for Vietnam to strive to achieve the growth target of 8% in 2025, creating momentum, creating momentum, and becoming a high-income country.

Da Dang

Source: https://baocaobang.vn/cong-bo-bo-chi-so-danh-gia-ket-qua-thuc-hien-cac-hiep-dinh-thuong-mai-tu-do-fta-index-nam-2024-3176412.html