Vietnamese Prime Minister Nguyen Xuan Phuc, announced that Vietnam would create a Free Trade Area (FTA) with 55 partners during the 17th Asian Banker Summit in Hanoi. The 55 partners will include all G7 members states and 15 members from the G20 group. The FTA will be operational from 2016 until at least 2020. Phuc, who was addressing more than 1,000 investors, said that Vietnam would also undertake significant administrative reform to boost competitiveness and enhance the business environment.
The FTA aims to create a sustainable financial community in the ASEAN markets. Vietnam intends to use the FTA to attract investors into the country. The agreement comes in the wake of several other FTA signed by neighboring countries in recent months. Vietnam wants to keep pace with other ASEAN countries and ensure that the country enjoys sustainable development through expanding regional trade.
Source : http://www.vietnam-briefing.com
Keyword : Government Plans, to Create Free Trade Areas, with 55 Partners.
