International integration promotes economic development

Participating in international economic integration, Binh Thuan is aiming to effectively exploit Free Trade Agreements (FTAs) of which Vietnam is a member, while at the same time mobilizing external resources to contribute to promoting local socio-economic development...

Actively integrate into international economy

As an agency performing the function of assisting the Provincial Subcommittee on International Economic Integration, the Department of Industry and Trade has always paid attention to propaganda work. Thereby enhancing dissemination as well as raising awareness of relevant subjects about the position, role, guidelines and policies in economic development and international integration. In addition, it also regularly monitors and grasps information on technical barriers in exporting goods to coordinate and provide to local associations and enterprises.

International economic integration creates opportunities to promote production and export of advantageous products of Binh Thuan (Illustration photo).

Along with that, the functional department also proactively and promptly deploys to units in the province about the content of knowledge related to our country's international economic integration. Or about the roadmap for implementing commitments to negotiate free trade agreements (FTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Comprehensive Regional Economic Partnership Agreement (RCEP). Or such as the Vietnam - Eurasian Economic Union Free Trade Agreement (EAEU), the Vietnam - EU Free Trade Agreement (EVFTA), the Vietnam - United Kingdom of Great Britain and Northern Ireland Free Trade Agreement (UKVFTA), the Asia-Pacific Economic Cooperation Forum (APEC) ...

According to Mr. Bien Tan Tai - Deputy Director of the Department of Industry and Trade, Vietnam's deep international economic integration is contributing to promoting trade activities between domestic enterprises and foreign enterprises. In particular, participating in new-generation free trade agreements is an important step in our country's international economic integration process. Currently, Vietnam has signed and participated in 17 free trade agreements (FTAs), including many new-generation FTAs such as: CPTPP, EVFTA, UKVFTA, RCEP... Reality also shows that FTAs help businesses enjoy tariff incentives, increase market access, and bring competitive advantages to exported goods. In addition, implementing commitments in new-generation free trade agreements is both an opportunity for Vietnam to perfect institutions, policies, and mechanisms domestically, while improving the business environment and creating conditions for businesses to boost exports.

In this work, the local functional department has coordinated with the Ministry of Industry and Trade to organize and deploy to associations and export enterprises in Binh Thuan to attend conferences related to the EVFTA, UKVFTA, RCEP. On the other hand, it also organized work with associations and export enterprises to grasp the operational situation and coordinate to support the resolution of difficulties and obstacles. Thereby, improving the quality, efficiency, and competitiveness of enterprises to promote the production and export of advantageous products of Binh Thuan, especially dragon fruit, rubber, processed seafood, etc.

Towards fast and sustainable development

In the period of 2023 - 2030, Binh Thuan requires the implementation of international economic integration tasks to be comprehensive, in-depth, flexible, proactive, creative, and predictive in order to bring about real efficiency and promote the province's rapid and sustainable socio-economic development... Therefore, in the coming time, the locality will focus on reforming and perfecting economic institutions as well as improving the business environment and enhancing competitiveness. In particular, reviewing legal documents related to international economic integration for proactive implementation, or recommending competent authorities to amend, supplement, replace, abolish or issue new ones in accordance with obligations and commitments to international economic integration.

In the coming time, the locality will also strengthen ideological work, raise awareness of state management officials, businesses, and people about international economic integration in particular and international integration in general. Especially about opportunities, challenges or requirements to be met when implementing international economic integration commitments in order to create high consensus and effectively participate in the integration process... In addition, it will coordinate with ministries, branches, the Vietnam Federation of Commerce and Industry (VCCI) and business associations to promptly and effectively respond and handle adverse developments in international trade and investment that may cause damage to the international economic integration activities of the province in particular and Vietnam in general.

In the coming period, Binh Thuan will also focus on implementing a number of key tasks: Effectively implementing Free Trade Agreements (FTAs); Promoting post-Covid-19 economic growth and sustainable development; Comprehensive integration in the fields of culture, society, science and technology, national security and defense, etc. Including organizing and supporting enterprises and cooperatives in the province to participate in conferences on international economic integration. Guiding and supporting raising awareness of trade defense measures, proactively responding to trade barriers in export markets and taking advantage of opportunities when implementing new-generation Free Trade Agreements of which Vietnam is a member. Focusing on promoting measures to restore the supply chain, ensuring the circulation of goods, safe and smooth production and business activities of enterprises as before the pandemic. In addition to focusing on removing difficulties for businesses, localities also encourage new, green, low-emission investment methods and business models with the participation of foreign-invested enterprises and private investment, especially promoting the effectiveness of the public-private partnership model in infrastructure investment...

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