Economic integration has made Vietnam one of the countries "leading the way in joining international economic integration", according to Deputy Foreign Minister Bui Thanh Son.
The process of international economic integration has made important progresses, a bright spot in foreign affairs, Deputy Foreign Minister Bui Thanh Son said in an interview on January 4 about economic integration in 2020. He
From the beginning of the year, Vietnam cooperated with the European Union (EU) to complete the ratification of the Vietnam-EU Free Trade Agreement, which was put into effect on August 1.
The Vietnam-UK free trade agreement was also signed in the last days of 2020, promoting economic, trade and investment relations with the UK after the country left the EU from December 31.
Vietnam as ASEAN Chair in 2020 has worked closely with ASEAN members and partners, promoting the signing of the Regional Comprehensive Economic Partnership (RCEP) within the framework of the first ASEAN Summit.
The RCEP Agreement, with the scale of 30% of global GDP, shows the determination of countries to continue to keep the momentum of cooperation and linkage, creating a driving force for regional economic recovery.
Vietnam also promotes many important initiatives in ASEAN on Covid-19 response, regional supply chain restoration, intra-regional integration associated with sustainable development, strengthens Mekong cooperation frameworks, and
Also in 2020, Vietnam has basically shaped a network of 17 free trade agreements and economic and trade cooperation frameworks with many leading economic centers in the world.