Hanoi to promote global economic integration (08:13 11/09/2020)

HNP - Hanoi People’s Committee issued a document No.4302/UBND-KT on September 7, regarding the conclusion of Deputy Prime Minister Pham Binh Minh at a meeting of the Steering Committee on global economic integration in 2020. 

Under the document, Hanoi People’s Committee requested departments, units, and people’s committees at district- and ward levels to enhance the study,  evaluate and forecast work related to the process of global economic integration, especially new focuses in international cooperation in the post-Covid-19 pandemic, as well as trade tension and multilateralism, among others, adding those are factors that could significantly impact the flow of trade and investment. 
Regarding the implementation  of current free trade agreements (FTAs), all local authorities are expected to raise the public’s awareness regarding FTAs in general, and the implementation of the Comprehensive and Progressive Agreement for Trans - Pacific Partnership (CPTPP) and the EU - Vietnam Free Trade Agreement (EVFTA) in particular, which could be done via various platforms of conferences, workshops, training courses related to FTAs, publications, portals on global economic integration, among others. 
Meanwhile, Hanoi’s authorities would continue to revise legal frameworks to ensure the compatibility of existing legislation with commitments in the EVFTA, while staying active in implementing plans regarding global economic integration. 
Hanoi is expected to carry out its action plan in implementing the EVFTA. In this process, Hanoi People’s Committee requested the Department of Industry and Trade to summarize reports on plans of global economic integration, and report back to the Committee for timely address of potential issues, if any.

By Ngoc Lam



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